Tampa Bay Buccaneers quarterback Baker Mayfield has initiated legal action against his father's company, Canwood Capital, seeking $12 million in an unresolved financial dispute. The lawsuit alleges unauthorized transfer of funds belonging to Mayfield and his wife between 2018 and 2021.

While a settlement was reportedly reached in January, with James Mayfield agreeing to repay the sum, the quarterback claims no payments have been received. The initial $250,000 installment, due on September 30th, remains outstanding.

The lawsuit accuses Canwood Capital of obfuscation and broken promises, stating they had "no intention" of honoring the settlement agreement. It details a pattern of avoided inquiries and fabricated explanations for the missing funds. The Mayfields assert they were left with "no choice" but to pursue legal recourse, filing the nine-page suit in U.S. District Court in Austin, Texas.

The Buccaneers quarterback is currently in his second season with the team, having secured a three-year, $100 million contract after a successful one-year deal. This legal battle unfolds as Mayfield's team recently celebrated a decisive victory against the New York Giants, a game where the quarterback's touchdown celebration drew attention.

Fox News Digital has contacted James Mayfield's company for a statement on the matter. This ongoing legal dispute adds another layer to Baker Mayfield's season, juxtaposing his on-field success with off-field financial challenges.