Baphomet (as the figure we know) is a concept invented by Eliphas Levi.
The “rumor” about that entity being a Templar Deity or so is just a myth created to destroy the templar (and highlight their heresy) Historically nothing proved that entity was worshipped.
Eliphas Levi being a Christian magician had no intention to create an entity to worship or at least work with… But when you see how many magicians adopted the figure, plus Satanists using it as a picture of Satan…
Baphomet (the Eliphas one) is a personnification of his concept of Astral Light.