Baker Mayfield sues Camwood Capital, his dad's company, for over $12M

AUSTIN, Texas - Lake Travis alum and Tampa Bay Buccaneers quarterback Baker Mayfield is suing his father's company for stealing millions and failing to pay him back. The lawsuit states Mayfield is owed a little over $12 million from Camwood Capital Group. 

Camwood Capital Group was founded by Baker's dad, James Mayfield, and it lists his brother, Matt Mayfield, as a managing director.

Beginning in 2018, the same year Baker was drafted into the NFL, the lawsuit states Baker, his wife, and their company's bank accounts had money stolen from them. 

James Mayfield's company is accused of using that money to fund various business interests, inlcuding buying several Austin companies.

When Baker's camp noticed, a settlement was reached to repay the money owed. Camwood Capital Group was obligated to pay $11,741,000, plus interest — totaling a little over $12 million — on a schedule beginning Sept. 30, 2024. The quarterback was also expected receive access to Camwood Capital Group's books.

However, the lawsuit stated the settlement has yet to be honored, leading to new legal action.

"To date, Camwood Capital has not repaid even one dollar under the Settlement Agreement, Defendants have failed to refinance their existing loan, and Defendants have not provided Plaintiffs with access to their books and records," reads the lawsuit. "In other words, Defendants have satisfied none of their obligations and have refused even to respond to Plaintiffs’ outreaches about those breaches."

In the lawsuit, filed in a US District Court in Austin, Mayfield is seeking the money owed, interest, attorney fees and any other relief the court believes is justified.

FOX 7 Austin reached out to Camwood Capital Group on Tuesday, and have not heard back.