Tampa Bay Buccaneers quarterback Baker Mayfield filed a lawsuit against his father and brother’s company, Camwood Capital Management Group, for nearly $12 million for violating a settlement agreement, according to court documents.

In the lawsuit, Mayfield alleges that his father and brother’s companies took millions of dollars from him without his knowledge and have now failed to meet the deadlines to repay that money as part of a settlement agreement.

The civil lawsuit, filed Nov. 22 in U.S. District Court, lists Mayfield, his wife Emily and their company, Team BRM, LLC, as plaintiffs. Texas Contract Manufacturing Group, Unitech Tool & Machine Inc., Apex Machining, Inc. and Lor-Van Manufacturing Inc. are listed as defendants in the lawsuit, along with Camwood Capital.

James W. Mayfield, Baker’s father, is the senior managing director of Camwood Group, and Matt Mayfield, Baker’s brother, is the managing director. Camwood Capital, a private equity firm in Austin, Texas, is one of two divisions of investment firm The Camwood Group.

The lawsuit alleges that the defendants, through “a collection of interconnected entities with common ownership,” transferred more than $12 million from the plaintiffs to themselves without the plaintiffs’ knowledge.

From 2018 to 2021, the defendants transferred “significant amounts of money” from the personal accounts of Baker and Emily Mayfield to the accounts of Team BRM and then to the accounts of the Texas Contract Manufacturing Group. The Mayfields believe the defendants took the money without thinking it would have to be paid back, the lawsuit says.

The defendants then used the money “as they saw fit,” according to the lawsuit, including financing acquisitions and covering general operating costs such as payroll.

After plaintiffs became aware of the transfers, the two parties entered into a settlement agreement in January requiring defendants to pay a total of $11,741,000 plus interest. Payments were scheduled to begin in September. Camwood Capital was required to pay Team BRM an initial payment of $250,000 no later than September 30.

An additional $250,000 was due on or before December 31st. An additional $3 million plus interest is due annually in December 2025, December 2026 and December 2027. The final payment, reported for $2,241,000 plus interest, is due in December 2028.

As of Nov. 22, the Mayfields have not received any amounts owed from the settlement, according to the lawsuit.

The defendants were also required to provide the plaintiffs with access to their records and to refinance an existing loan to free up capital to repay the Mayfields under the settlement. According to the lawsuit, the defendants have not yet concluded either.

Under the settlement agreement, failure to meet contract requirements constitutes an event of default, which allows the Mayfields to immediately seek full repayment of the outstanding balance, according to the lawsuit.

Camwood Capital did not immediately respond to a request for comment.

After Tom Brady retired in February 2023, Mayfield signed a one-year deal with Tampa Bay in the offseason, competing with Kyle Trask for the starting job. The 2018 No. 1 pick became QB1 and delivered one of his best seasons as a pro, leading the Bucs to the NFC South title and a wild card victory.

In March, the Buccaneers signed Mayfield to a three-year, $100 million contract, including $50 million guaranteed and a maximum of $115 million, according to league sources.

Mayfield has completed 71.4 percent of passes for 2,799 yards and 24 touchdowns with nine interceptions in 11 games this season.

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