In a federal complaint, Tampa Bay Buccaneers quarterback Baker Mayfield accused his father, James Mayfield,’s financial firm of not repaying roughly $12 million that was obtained without his consent.
On Friday, the 29-year-old NFL player filed a $11.7 million civil case in the U.S. District Court for the Western District of Texas.
According to the lawsuit, between 2018 and 2021, Camwood Capital Management Group paid over $12 million to a company named Texas Contract Manufacturing Group “without his authorization, proper documentation, or adequate accounting of the transactions” from Mayfield and his wife.
According to the lawsuit, Camwood reportedly spent the funds “however they desired,” which may include paying for acquisitions or ordinary running costs.
Plaintiffs were the main source of capitalization and funding for Defendants during the time that Plaintiffs’ money were being transferred to Defendants. The lawsuit claims that the plaintiffs received nothing in return.
Camwood “invented fictional explanations for their actions,” the lawsuit claims, then reportedly evaded Mayfield’s questions after he learned about it and questioned the firm about it.
A request for comment from NBC News on Tuesday was not immediately answered by Camwood.
According to NBC affiliate WFLA-TV of Tampa, James Mayfield is the owner of Camwood, and his son, Matt Mayfield, Baker Mayfield’s brother, has a share in the company.
Both James Mayfield and Matt Mayfield could not be reached. Although they are included in the case as firm members, they are not named as defendants.
The corporation and Baker Mayfield reached a deal in January. According to the lawsuit, Camwood was obligated to pay back $11.7 million plus interest starting on September 30. According to the lawsuit, the business also had to provide Mayfield access to its books and records and refinance an existing loan in order to raise the funds necessary to pay him back.
However, Camwood is accused of violating the settlement agreement in the complaint.
“It is now clear that Defendants had no intention of making Plaintiffs whole when they entered into the Settlement Agreement,” the complaint alleges. “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.”
According to the lawsuit, Mayfield was forced to undertake legal action as Camwood has not fulfilled his end of the bargain.
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