Salary Cap Update – Revis to Become Free Agent in 2011?
Lifting the infamous Bassett/Florio embargo, we had to address the latest article from PFT, especially after the report was picked up by the NY Post. Perhaps tellingly, it has only been picked up by the NY Post.
Here’s what the article said, which – if true – would be a major blow to the Jets in terms of their ability to re-sign Revis to a reasonable deal:
A league source tells us that persons familiar with the Revis contract believe that the Jets ultimately won’t be able to buy back the final two years of the deal, once Revis opts to void the remainder of the contract after the coming season.
Here’s how it works. Revis signed in 2007 a six-year deal that, upon the achievement of certain modest triggers (which he has satisfied), can be reduced at his option to four years. Then, the Jets can buy back years five and six at $5 million guaranteed in 2011 and $15 million guaranteed in 2012.
Here’s the problem. When the contract initially was approved in 2007, the 30-percent rule that limits the giving of raises in uncapped years to players under contract didn’t apply, because a salary cap was in place. The thinking is that, when the Jets try to buy back the last two years of the deal, the NFL will block the maneuver as a violation of the 30-percent rule.
And because the contract includes language preventing the Jets from applying the franchise or transition tag to Revis, he’ll be able to walk away.
Florio then goes on to say that the Jets might be able to sign him to a tender as a restricted free agent, but that this would depend on the CBA and the exact language in his contract (of which Florio himself has a copy because he once joked about using it as a door-stop, so he might even be referring to himself as “persons familiar with the contract”).
At first glance, this would appear to be a devastating revelation, which with the way negotiations have broken down, could allow Revis to explore the free agent market at the end of the season and might make the Jets think about trading him while they can still get decent value for him. However, you have to consider the source. Florio has a reputation for bringing up ideas that nobody else has considered and they often don’t work because he has overlooked something. Is it realistic to consider that this wouldn’t have been considered by the paid professionals that drew up, negotiated and signed the contract and have actively been looking to extend it? The fact that nobody other than the Post has even reported what would be a pretty big deal if true, during a quiet period for NFL news, also would suggest that either nobody is buying it, or they’ve checked with some sources and been told it’s a non-issue.
I’ve discussed this briefly with Jason at the unofficial Jets cap site and after the jump is a list of reasons why we don’t think the buyback can be blocked.
- The buyback was subject to approval by the league when the contract was initially signed in 2007 and they signed off on it.
- When a contract is approved under one set of rules, but then new rules apply at the time of execution, the contract would likely be subject to a grandfather clause, which would enable the old rules to continue to apply.
- We are not aware of any precedent for a similar situation, which would make it almost impossible for the NFL to enforce.
- The 30% cap rules refer to the final capped year (2009), so 2010 is not relevant. The fact that $5m is more than a 30% increase on Revis’ 2010 salary is irrelevant, because it is the final capped year (2009) that sets the base value and the maximum increase. 2010 did not have to comply with the 30% rules, and no contracts around the league are being voided in those circumstances (which are commonplace).
- If you did compare 2011 to 2009, then that would appear to comply with the 30% rules anyway, although 2012 compared to 2011 may not.
- When the deal was signed, the increase from 2011 had to comply with the 30% rules, because at the time 2012 was scheduled to be an uncapped year. The NFL signed off on it back then, so it would be unusual to see them have a change of heart.
- The 30% rule comprises sums of money that are fully within the player’s control, such as salaries and easily-earned incentives like workout bonuses. It also includes things such as roster bonuses. What it does not include is anything that is beyond the player’s control. Since the buyback option is up to the Jets to execute, this means it should fall outside those rule, which probably explains why it was signed off on in the first place. Although it is salary rather than bonus money, the fact that it would count as “not likely to be earned” under the NFL guidance would seem to confirm this.
- When the two years are bought back, this is not an extension of his contract, it just replenishes the full six-year terms of the original deal which was signed and approved by the NFL.
- If you tried to argue that this was a new two year deal, then that may not be required to meet the 30% rules, either because the deal would commence in 2011 rather than during 2010 or because the original contract had expired, effectively making him a free agent at that point, even though the exercise of the buy-back option would immediately put him back under the Jets’ control.
- Since the contract has already been agreed, they might not even need to seek approval from the league to execute the buy-back which had already been improved.
- I doubt very much that the intention of the law would be for the Jets to spend several years believing they had a two-year option, only to find out they couldn’t exercise that option over three years later. Especially, when they would never have signed the deal in the first place if there was a chance that was the case.
- Even if the league did try to block the move, the Jets would have such a strong case to appeal it, that it seems pointless for them to even attempt that.
Now, I don’t have a copy of the contract nor do I claim to have the appropriate level of experience with US Contract Law to make a definitive declaration one way or the other. However, the signs all point to this being more scare-stirring, cage-mongering and pot-rattling by Florio and I’d be very surprised if he had a rebuttal for ALL of the above points.
We have to report these things though, because even the boy who cried wolf was correct one time. As Jason said in an e-mail to us: “I guess one day he has to be right about one of these things he reports.” We both remain hopeful that this will not be that day.
98 Responses to Salary Cap Update – Revis to Become Free Agent in 2011?
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Organized Chaos says:
If this is true then offer him some guarentees!!
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BigBadBob says:
Let it play out…anything before that is speculation and a waste of time. Everyone needs to stop getting their panties in a bunch before anything actually happens.
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Bent says:
Both parties have referenced the buyback as if it’s a certainty multiple times in the media, so if it WAS blockable, this would be a surprise to all concerned. They certainly wouldn’t have known about it when they got Cromartie and Wilson. Those acquisitions were clearly made because the Jets didn’t have enough depth at corner (and have subsequently lost Lito and Strick).
Call me Mr. Skeptical, and I wasn’t going to put this in the main article, but I wonder if: “A league source tells us that persons familiar with the Revis contract believe that…” means Florio called up Lombardi and had a chat with him about it.
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Also, can we like make a petition for the league to disallow Al Davis to make any moves.The Aso contract and he is the reason for the Jamarcus Rusell allowing rookies to make MAJOR bucks.
Could you imagine if the radiers actually got a good QB – He would ruin EVERYTHING. -
hanknaples says:
Bent:
STOP, please stop!!!
I cant get past the second paragraph which says: ”
Here’s how it works. Revis signed in 2007 a six-year deal that, upon the achievement of certain modest triggers (which he has satisfied), can be reduced at his option to four years. Then, the Jets can buy back years five and six at $5 million guaranteed in 2011 and $15 million guaranteed in 2012.”
This first part…”upon the achievement of certain modest triggers (which he has satisfied), can be reduced at his option to four years”
If it can be reduced at “…..his option to four years’ (I assume Revis’s) then why is it that that….’ the Jets can buy back years five and six at $5 million guaranteed in 2011 and $15 million guaranteed in 2012′
It sounds mutually exclusive. Cant work…… there is a conflict here….. and Florio has it MIXED UP..
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sunsetmusic says:
Since Woody and Tanny as well as Revis have mentioned the signed for another 3 years deal….it trumps whaaatttever this article says. I’m pretty sure they are more aware of their contracts than Florio so I think this is a wasted worry….
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Bent says:
Hank – I’ll try to explain it better than Florio did, then I’ll post the description from Jason’s site. Hopefully you’ll get your head round it one way or another. I agree, he didn’t explain it too well.
Basically, it’s a six year deal, but years 5 and 6 are voided because Revis met some performance targets. If he didn’t meet these, he’d remain under the original six year deal with low (non-guaranteed) salaries in those last two years. When the contract is voided, the Jets have the option to buy those two years back at much higher sums, so obviously Revis would void those two years, expecting either to be locked into those two years or hit the free agent market.
So he reduces the modest six year deal to a four year deal and then the Jets buy back those last two years at a higher rate, effectively giving him a payrise and extension that is built into the contract if he plays well enough to earn it, but they could choose not to give him if he didn’t.
Here’s the link to where Jason describes it in more detail:
http://nyjetscap.com/darrellerevis.html
Hope that helps.
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Randy says:
Concidering it is Florio who said this…I take this with a grain of salt.Anything that can make Jet fans become outspoken, this guy makes a news story.he is the same guy who thinks the jets wont make the playoffs this year.He also was the same guy who said Revis could be paid 100 million dollars and when Management was asked about it, they had no idea where the rumor came from.
He hates the Jets anyway so why should we listen to this bafoon.
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NamVetJet says:
Story should have been tabbed under Fantasy Mill not News and Rumors.
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david harris says:
Damn… sign him already. I’ve had enough of this trade him for some great value… he is great value. we lucked out in drafting such a good player, you can’t do that every time. when do we start valuing our own players and showing them they are meant to be jets rather than shipping them off at the first sign of trouble?
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Tos9987 says:
I dosent make much sence shouldnt the NFL have to honor the previous contracts .
I would think the 30% rule would be applied to new contracts only .
Making Revis a free agent if we decide not to pay the guarentee .
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Bent:
Thanks, I appreciate it, you’re the best !!
I followed the link, but I’m still not clear.
The whole thing is : Is Revis a free agent or not?
Only ONE party can hold the option.
It all depends all on who is holding the option. I believe the Jets are.
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That contract s actually a good indication where Revis’ head is at. As you can see 2010 was a HUGE contract year compared to his other years he was playing.Imagine going from 7 Million to under 2 million after coming off a ALL Pro Year. I can understand why he wants a new contract.I think whats going to happen is the jets will give him a contract that will pay somewhere over 10 million and around 15 million dollars over 5 or 6 years. That should give Revis a contract of between 60 Million dollars and 90 Million dollars.
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of course im not the Jets management but thats what I expect to see happen.
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What we have on our side is the fact Revis has a ceiling of upside and Most Teams would trade the 1st overall pick in the draft if they wanted him.The Jets with the best Trade scenerio could land 2 1st round picks or even 3 depending on the order of the picks.Revis is the kind of player that comes along every 20 years or so and makes ANY defense that much better.But even without Revis,Ryan would still have a top 5 defense in the NFL by just using Cromartie and Wilson.Revis is the guy that puts us OVER the top in a League that lacks a lot of good cornerbacks.
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Dylan says:
To everyone demanding that the Jets trade Revis, PLEASE STOP! There is NO CHANCE that the Jets win the Super Bowl this year without him. He is the most important player on this team, even more important than Sanchez. Cromartie was great a couple years ago, but there is no guarantee that he will ever be a shutdown corner again. Wilson is a rookie, and is getting embarrassed by J-Co in practice. Will he be really good? Eventually. But right now he isn’t ready to start. He will contribute at nickle and PR, but thats all. Do you really want Cromartie, Lowery and a rookie CB starting against Mr. Manning in the playoffs? I’m shocked that people are actually asking for a trade. Revis IS 100% irreplaceable. The only player who is even in the same league as Revis is Nnamdi, and if the Jets won’t pay Revis Nnamdi money, they certainly won’t pay it to Nnamdi.
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Bent says:
Tos – The 30% rule does apply to extensions in an uncapped year, but not new contracts. This is neither, anyway.
Hank – It hasn’t happened yet, but I’m sure you can see that Revis WILL definitely void the last two years. It is then that the Jets can buy those years back, so it is their option.
Here’s the potential outcomes:
1. Revis misses performance targets and ends up stuck with the original 6 year deal. (This is already out of the equation).
2. Revis makes the targets but decides not to void those last two years. (This would make no sense because he can make much more in those two years).
3. Revis voids those last two years and the Jets buy them back, locking him into an effective 6 year, 36m deal, which is significantly better than the original 6 year deal.
4. He gets an extension.
5. He gets traded.None of them end with Revis being a free agent, unless Florio’s assertion that the buyback could be blocked is correct (and we don’t think it is). The only other possibility that would make him a free agent in 2011 would be if Revis voided the last two years and the Jets decided against buying those two years back, but that would make no sense whatsoever, unless he had suffered a career ending injury or something.
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Bent says:
I agree with Dylan. Why weaken a potential contender? (And why strengthen another team?) Assuming they can execute the buyback, you’ll get equivalent value in a trade next year, or the year after (and it could happen before the draft so you wouldn’t have to wait to benefit from acquiring picks – and the picks wouldn’t reduce in value because he would make the team he goes to win more games). However, trading a player of his quality should be a last resort. Trading him now? Might as well give up on the season.
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phil says:
ummm briefly reflecting back on my college law classes the issue that im having is this: the 30% rule applies to new contracts for players, while what florio is contesting that the buy back provision is basically a new contract. im obviously not a lawyer but it seems like having terms of a contract met and having an option exercised is not the same thing as signing a new contract.
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Bent says:
Phil – Yep, you get an A.
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Charlie D says:
Bent,
Do you think we will loose Revis or will Tany find a way to keep him?
Thanks, -
tyrone says:
WHO CARES ONE DAY THE FANS ARE GOING TO ASK FOR A NEW CONTRACT AND SEND THE PLAYERS BACK TO THE GHETTO WHAT A MESSAGE TO ALL US FANS WHO DO ALMOST ANYTHING TO WATCH OUR JETS WIN.YOU KNOW I WOULD TRADE HIM FOR WOODSON AND 1ST ROUND OR TO THE RAIDERS FOR ASO I LIKE THE GUY BUT THIS IS GETTING CRAZY PLUS OCHO CINCO DROP A SURE TD IN THAT GAME REVIS ALSO GOT BEAT 2TIMES BY WAYNE HE JUST DROP THE BALL HES GOOD BUT HE NOT SUPERMAN.
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Bent says:
As far as I’m concerned, he’s under contract here for three more years. He wants a new deal and can’t get one from anyone else unless he waits, so I expect them to figure it out…eventually.
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THE PATS WON 3 SUPER BOWLS ADDING VETERANS PARCELLS ALSO AS LONG AS SANCHEZ IS OUR QB YOU COULD CHANGE THINGS THE SAINTS CB WERE NOT THAT GOOD AND WON A SUPER BOWL
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A DYNAMITE OFFENSE MAKES THE DEFENSE BETTER AND THE WAY I SEE THE JETS BULT ON OFFENSE WE ARE GOING TO DOMANATE
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MANGLT FERGUSON EDWARDS CROMATIE HOLMS HARRIS POOL ARE NEEDED REVIS COULD BE REPLACE BUT WE WILL BE ALOT BETTER WITH HIM MONEY SOMETIMES GET ME MADE.
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Bent,
Yeah trading him makes even less sense when you consider that the Jets have been gearing up for a Super Bowl run this year. They added two expiring contracts in Cromartie and Homes, and two deals that are essentially for this year only in LT and JT. Why take 1 step forward and 2 steps back? This team is a fovorite to win the Super Bowl right now. Who knows what will happen with all of our free agents next year. This might be the only year that we can keep all of these guys around. Don’t jeopardize everything just because Revis wants a new deal. Worst case scenario, he walks next year. Lets not forget though that we could still offer him a new deal. Its not like once he becomes a free agent, the Jets are banned from signing him. He said he wants to be a Jet for life. I have a hard time believeing that the Jets wouldn’t match any contract for him. Plus, for all we know he still has 3 years on his deal. Wait til he shuts down Boldin, Moss, and Marshall to begin the season. A lot of people will be eating their words lol.
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Hank—
Its basically a mutual option. Revis has the first option. He has to execute the option during the week after the Super Bowl by paying the Jets a certain amount of money. When Revis does that he voids the final two years of his contract, which technically would make him either a RFA or a UFA at the start of March. At that point the Jets have to pay Revis a sum of money to “buyback” the final two years of the deal. I would think the Jets have until the first day of free agency to buy the contract back as escalated salaries.
I dont think the CBA really directly addresses buybacks like this. Normally teams use a buyout clause. The difference between a buyout and a buyback is that in a buyout you pay the player to buyback his option to void the deal. The Giants did that with Eli Manning. Such an amount is treated as a signing bonus and would be unprotected if the player then decides he wants to hold out anyway in camp, which is probably why the Jets went with this other plan where you can eliminate guarantees and add in other safeguards if the player wants to hold out. It also gives the team more salary cap flexibility.
Florio’s assumption is that the buyback somehow constitutes an extension of the current contract similar to how some option bonuses work (i.e the team picks up the option and adds years onto the contract). Option bonuses do count towards the 30% rule even if the deal was signed before the owners opted out of the CBA. The problem with his interpretation is that Revis’ original deal came under a more strict version of the 30% rule which is the 25% rule that is used for rookies, which says that a salary cant grow by more than 25% of the first year’s salary of the deal. The fact that this contract complied with that rule would logically mean it also complies with any 30% rules regardless of what year they come into effect.
Even if I assume all of the above is wrong there is the question of why would this even be deemed an extension. Revis plays out the 4 year contract, voids years 5 and 6, and is a free agent. The Jets buyback in that case is a new two year contract. There is no clause stating that the 30% rule would be in effect for any team for players signed in an uncapped season. It only applies to capped seasons. He is also making the leap of faith that the 30% rule will even be in effect in 2011. If there is a new CBA it likely will not be.
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TimNY says:
Bent,
Nice to have you around.Tim
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You too Jason.
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Shamik says:
I just love blogs with characters. Eddie, Bent, Hank, and of course, Tyrone. You all make my day!
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Jeff says:
Oh shaith!
Your right Shamik, quite an interesting cast of character we have here. Now all we need is SackDance and we should be good!
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BREAKING NEWS TANNY GETS REVIS A CHAIN OF RESTAURANTS SIGNS CONTRACT AND SAYS I COULD NOW FEED MY FAMILY AND REXES.
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Jason:
Thanks for the imput. But A wise old lawer once told me you can NOT have an agreement to agree. It is non-existant.
Therefore, you blew me away with your first sentence in that ” it is basically a mutual option”
It is impossible to compute. Can’t have two people holding options with different terms over the same contract.
What if both parties wanted to execise their options. Can’t split the baby in half.
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Bent says:
Hank – it’s quite simple. Revis voiding the deal triggers a buyback option for the Jets. Revis can’t void without triggering that option. The Jets don’t have the option if he doesn’t void.
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Hank I think these types of contracts exist in baseball all the time, though usually they work in reverse. Player A has the option to extend his contract by a season. The team then has the right to accept the extension or buy the player out for a specified amount of money. Its considered mutual because both sides have to agree to extend the deal the extra season.
Id look at this as similar. Revis has the option to void his deal. Once he voids the deal he now gives the Jets the option to buy it back (I believe JI Halsell reported that it is for $100) and increase his future salaries. In order for Revis to become a free agent he needs to agree to it and the Jets need to agree to it. In order for the Jets to keep Revis under contract for low money, which the Jets already agreed to in the initial contract, Revis has to agree with it by not exercising his option.
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jleonhard says:
After we win the superbowl and revis is home sitting on his 16.2 mill watching it he’s going to wish he stayed
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Bent/Jason:
Thanks tons for all your info, but my brain is about to explode.
I’m taking two aspirin and contacting you in the AM. Maybe it will make more sense then. Thanks
hank
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I can’t believe we’re wasting time with this guy. Revis ought to go learn about Manute Bol. The guy grew up in freaking Darfur, had his family slaughtered, had success in the NBA and literally gave away all his money to try to make lives better back in his home country. For his trouble, he was thrown in Sudanese jail for years and saw even more family members threatened or killed. Instead of giving up, the man took odd jobs (fighting Refrigerator Perry) just to scrounge up some money to go around speaking in favor of raising money for Sudan or for awareness about Darfur. All this after suffering a crippling car accident that left him in the hospital for months!
My god, the world rarely sees such selflessness, let alone from star athletes. We should all try to follow his example. Revis, believe me, you can take care of your family with far less than you’re holding out for. Bol made less than $10 mil TOTAL his entire career, and he give it all up to help his fellow man.
RIP Manute Bol.
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JetsFan4Life says:
Bent – thx for sound analysis, knew you’d set it straight, and after a night out with the kids where we’re all sweating and surly while watching mind numbing AA baseball, drinking $6 domestic beer and $9 junk food, this is great to read.
p.s. believe I did note in my original post that I always feel guilty (like I’m an NFL addict) after reading PFT, let alone citing to it, as its sorta the equivalent of trying to get serious journalism from the Sun or Mirror (if I recall correctly they’re British tabloid trash just as bad as our our Nat’l Enquirer, right?)
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Shamik – despite what’s been reported, deep down I don’t see Revis as someone who will play hardball with the team – think Rex intimated same when he stated he’s never been a slacker; the man just is in reality a kid letting others negotiate for him and he’s perhaps a bit confused right now, but deep down he’s always come off as a good, hard working, respectful kid.
p.s. nice tribute to Bol – did you catch the Ndamakong Suh pledged $2M to UNebraska pre-draft? Also, Clowney seems to be another kid with a good sense as to how to be selfless…just saying, not all these guys are what they sometimes seem so you can’t stereotype
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You gotta love these guys who give back in ways that really matter. God bless those like Bol and Suh (maybe the trick is to have three letters in your name?). Clowney too. I personally hope that I can do something similar one day!
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jason says:
all contracts signed before the cba expired are honored this has no truth to it. 30 percent rule only applies to new deals.
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Shane L. says:
I hate Florio so much. I stopped reading that site entirely cuz I got so sick of his anti-Jets garbage.
When I see people like him, and people like Francesa getting paid big money to act the way they do, it makes me believe that I could do their jobs even with no training. Where is the professionalism in the media these days? They just have their own agendas and bash teams (usually the Jets) with nothing but opinions and snide, childish wisecracks to support them.
On a side note, 1 of my good friends is now officially a Tampa Bay Bucs cheerleader. Smokin hot, name is Tanya if you wanna check it out on their site lol.
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WW85 says:
Shamik, Thanks for the Manute Bol info. I didn’t realize the extent he went.
We should all appreciate Clowney more.
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if revis leaves, then i leave…ppl need to look at certain team & associate that team with a player who personifies the organization (i.e. franco harris model, roger staubach model, curtis martin, frank gifford, joe montana)…lettin revis go is like losin your meanin
if rex believes you play like a jet in order to win, why hasn’t management paid revis with the swiftness of an air force jet
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Peter K SI says:
cromartie and wilson on the other side…. Maybe this draft pick makes more sense then previously thought. trade him for a 1 and 3… Peace out…
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Bent says:
I too was really upset to hear of Manute’s passing. RIP.
4Life – Sun and Mirror are on a par with PFT. The Sport is level with the Enquirer and the Star is somewhere in between. They’re all pretty unprofessional and hypocritical, but the bigger issue is that a large slice of the UK population is so freaking gullible, these guys can actually affect things like election results.
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James in TN says:
So in reality Florio got a shovel full of @#$% flung it at a wall and hoped that something would stick. Remember when the press used to just report facts not opinions or crazy theories. I am officially tired of the Revis talk. I am going to get HBO this summer to watch hard knocks, but if it is just a more of this contract crap I will be highly disappointed.
Why doesn’t Florio and the bunch find an undrafted free agent to follow through camp to give everyone a feel for the experience? I hope this is how HBO goes about it.
Bent- If there is a lockout next year, what do you think will be the best thing to come out of it?
I am rooting for a reasonable rookie cap and lower ticket and TV prices.
Go Jets
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Shamik- thanks for the Manute Bol info. I always liked him as a player, I never knew he was a greater humanitarian.
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MrJetGreen says:
Offer him 10 years at one billion dollars then:
a. Add a stadium beer drinking license at $500.00/year
b. Charge $3.00 for ketchup or mustard on your dog
c. Add a “stool” license fee, $50.00, for lavatories, LOL -
Organized Chaos says:
I just have a couple of thoughts
If there is a lockout next year – I assume the current contracts for players freeze. I mean you can’t pay someone to do something they just aren’t evening allowed to do (play). Is this causing the jets to hesitate on new contracts or is it mostly the CBA unknowness.Also, Do you think it is too dangerous to put in a Super Bowl latent incentive clause in Revis’ contract, being that all players would then want them. Im thinking where it escalates based on performance of the team and the individual, and a superbowl type season brings him more money than Aso makes in OAK.
Also, what are the odds would you guys put down that Revis makes a real stand and doesn’t show for training camp. How about for Mangold? And if they both don’t show, I’d love to see the Jets lock up Dbrick and Harris (assuming they show). But if the two stars don’t show (I think Revis doesn’t and Mangold does), isn’t in very unTanny – like to negotiate when you aren’t there?
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Bent says:
OC – revis jeopardizes guarantees in future if he holds out, so I think he’s deliberately made a statement (miss a voluntary day, fake an injury) without going to those lengths. That means something.
I don’t know about Mangold, but at least he’s earning a reasonable amount this year (over 3m).
James in TN – the best thing to come out of a lockout? Well, I’d be kept busy, at least. Ultimately, they will hopefully make dramatic improvements to some of the obvious weaknesses in the current system. Also, the window of opportunity is closing for a couple of AFC teams, so a year off might transform the landscape in the Jets favor.
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Pdubbs says:
This is so annoying…. Enough already !
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Zartan says:
So he will opt out and the Jets will buy back the last 2 years!! that is what you said right Bent?
Just sign Revis for 12-14 mill with a bonus already.
Sign Mangold, then Harris and if theres nothing left for Brick, then so be it. Put Vlad there and let Slausen play Guard. If it doesnt work, then we know what our 1st pick will be.
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starz31 says:
Thanks Bent and Jason for clearing this up. You explain it very clearly, I’m not sure why there is much confusion for some out there.
Where is the precedent for this violation of the 30% rule on an existing contract? It sounds more and more like Florio just made that up. You would think there is a reason he is supporting that statement but it just doesn’t make sense.
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Hi Jason:
It is very interesting how Baseball handles “reverse options” contracts.
I find the contract war between Schwartz and Tannenbaum fascinating, if only because all the NFL contract BS is circumvented (eliminated) and it’s survival of the fittest at it’s best.
Reading your June 19 @ 9:52 PM post, the way I simply interpret it is that Revis signed a four year contract with a two additional year option owned by the Jets.
Your explanation that…” these types of contracts exist in baseball all the time, though usually they work in reverse. Player A has the option to extend his contract by a season. The team then has the right to accept the extension or buy the player out for a specified amount of money.”
This simply means to me that the CLUB has, prior to the last year of the contract, the option to….A) “extend the players contract by a season, or B) “buy out the player for a specified amount of money.
Subsequently, reading your June 19 @ 9:52 PM post, the way I simply interpret it is that Revis signed a four year contract with a two additional year option owned by the Jets.
If Revis has the right (Option) to void the contract, then the Jets do NOT hold any rights at all !!!
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Hank, you keep missing the point. Revis does have an option. He has reached the incentives that award him the option to void the final two years. BUT, that corresponding move is tied to triggering an option to the Jets. He either keeps the two years currently on the contract, which would be foolish, or he voids the final two years. Thats the only power Revis has. BUT if he does void the final two years, that triggers an option to the Jets, who then have the option to guarantee Revis $20 million over 2 years. OR they can let him walk. Thats it. Theres no way around that. Revis’ option, if enacted, then puts the power into the Jets’ hands. Revis’ option is tied to the Jets option. Thats it. The only way the Jets lose power in this is IF Revis doesn’t enact his option, which would be foolish.
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Jay says:
this is unreal. I am so SICK AND TIRED hearing about all these players wanting this and that….you know what? If you do not want to play here, GTFO, because we will find someone else to take your spot…..sure revis is great, but this last month has already to this season off on a bad note…..revis and mangold need their diapers changed, i am so sick of it
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Starz31:
(Revis). “…..He has reached the incentives that award him the option to void the final two years”
Lets say he did reach those incentives, what will he do then, PLAY FOR THE JETS UNDER THEIR TERMS ?
OR, do you mean if he did NOT reach those incentivers he could NOT void the last two years?
Then if he could NOT void the last two years, why do the Jets have the Option to exercise them if they have him alrerady? Does not make sense.
Either he has the option, or the Jets have the option !!
No dual, mutual ly exclusive options !!
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Bent says:
If he missed the performance targets, you are correct, he could not void the contract.
In such a situation, the buyback option would not exist because it is only triggered by Revis voiding the deal.
Got it?
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Interesting post. There was a lot that I wasn’t aware of in the way that NFL contracts are structured. This salary cap issue is going to be an ongoing problem for a lot of teams who do not plan accordingly.
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Hi Bent:
Thanks for joining in.
In answer to you comment that if Revis couldn’t void the contract then Jets the Jets optionm is null and void ?
Sorry Bent, then It goes back to the agreement to agree, which is no agreement at all !!!
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Bent says:
Yes, the Jets option would be null and void.
But, If Revis hasn’t voided the last two years there is no need for the option because Revis would be under contract for the duration of the original 6 year, 21m deal.
The mechanism essentially allows Revis to upgrade his 6 year, 21m deal to a 6 year, 36m deal if he plays well enough (and he has), but the Jets can choose to set him free after 4 years (by not executing the buyback) if they don’t want to give him a deal that big (but they will).
So, to recap…
It was a 6 year, 21m deal but if he was going to be locked into a deal for six years, Revis wanted assurances that he’d either earn more or be set free after 4 years. By meeting the performance targets, he earned the right to give the Jets a choice of one or the other.
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Bent:
OK, here we go.
You said…”But, If Revis hasn’t voided the last two years there is no need for the option because Revis would be under contract for the duration of the original 6 year, 21m deal.’
Okay, well and good, pretty straight forward.
But again what if, as you say, Revis does NOT void the option, what then??? He continues to work under the same contract? Giving the Jets the rights to him under the same agreement? It sounds like the option is wholy on the Jets side.
And what if he does NOT void the option, what then??? The Jets do NOT own the rights to Revis for the additional two years????
Doe NOT make sense Bent!!!
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Hank,
Revis is under contract for 6 years and at least $21 million. If he does not meet the incentive then he has no choice, he is contracted as is for the final 2 years. If he does meet the incentive then he gets the choice. If its his choice to NOT void the final 2 years, then he plays under the original agreement and the contract stays as is and he plays out the final 6 year $21 million contract.
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Bent says:
Yes.
It’s either a conventional six year, 21m contract (if he doesn’t or can’t void).
Or, if the Jets choose to buy back those two years, it’s a 6 year, 36m contract, with the last 20m guaranteed.
So, you can see why having the option to void the deal still works in his favor. It just underlines that the Jets were not prepared to lose control over him for the duration of the six years.
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starz31:
I agree, Revis is ….” under contract and at least $21 million ” more for this year and the following TWO years.
The question is….At whose option? Is Revis free to leave at the end of this year, Yes or No?
I say NO!!! The Jets own the Option. Is it clear enough?
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Bent says:
By George, I think he’s got it.
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Bent:
So, we come to square one and you agree…. Revis can NOT become a free agent because the Jets own the rights and Florio is a mess!!!!
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Bent says:
Florio’s contention is that the league will block the Jets from executing the buyback option.
We figure he must be wrong because the league already signed off on it.
In the unlikely event he has it right, that would mean Revis would (essentially) be free at the end of the year.
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Bent:
Between you and I, you’re right and Florio is NUTS!!!.
However, it is incredible that we have come full circle over the last two days to arrive at square one, I think? !!
Last Fri day I posted to SD:
hanknaples, on June 18th, 2010 at 1:45 pm Said:
SD:“I believe the Jets actually do have the ‘right of first refusal’ by holding the option of the last two yrs in his contract!!”
This has been a perfect example of an exercise in futility.
Thanks to you and Jason for sticking with me. Happy Dads day, just in case.
hank
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Off topic but I’m looking for training camp dates. I’m also curious where has AKA Drew been?
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Bent says:
Hank – “Right of first refusal” (in the sense it was being discussed earlier) means that other teams can negotiate with him but the Jets have the option to match.
The Jets control his rights, as we’ve established, so other teams cannot negotiate with him at any point until he’s a free agent.
That’s perhaps where the confusion arose.
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Oh man, I’m sad I missed this fun little chat.
Yesterday I was at the beach, had more than a couple cold ones, and basically was talking to random people about this thing (there was an outrageous % of Jets fans on the beach for some odd reason).
The general sentiment I took away from the conversations I had is that Revis deserves to get paid, but at a reasonable $13 million/year or so clip. A few scholars said he should “just get his $20 mil”, a few angry fans (almost all were older Jets fans) said screw him and trade him. But most felt that this will all be worked out, and because it’s the slow season for NFL sports writers, they’re just kicking up dust to try and start a sandstorm.
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Bent:
The above comments were in response to SD 99 inquiry about the Jets possibly having the “rights of first refusal”.
I suggested that they “could ” very well have that right because if you own any option it intrinsically comes with value. That value, if not spcifically restricted, can be sold or traded. If not sold or traded, then the Jets can exercise that option and own the property under stated terms and conditions.
In my comments to SD, I suggested that the Jets, prior to expiration of the option, may allow Revis & Co the chance to shop arround to other teams and see for themselves the validity of their demands and also get a feel of what the Market may offer the Jets in trade.
Get feelers, similar to Coles (while under contract to the Jets) but holding the right to execise their option.
See, my opinion in all this, as stated in my last post to you and Jason, is that simply put, the Jets own the hammer and can use it untill it expires.
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“prior to expiration of the option, may allow Revis & Co the chance to shop arround to other teams and see for themselves the validity of their demands and also get a feel of what the Market may offer the Jets in trade.”
Hank, I highly, highly, highly doubt this would ever happen with a player of Revis’ caliber. That wouldn’t be just playing with fire, that would be dancing on a gas tanker with flaming batons. Coles was an aging WR with diminished skills who thought himself a #1.
The Jets know that there are teams out there who would pay Revis an ungodly amount of money (to hurt the Jets and/or improve themselves), so I doubt they would ever allow Revis to shop elsewhere while they still held control over the situation.
I agree with your assessment of the overall situation, the jets are the “hammer” but Revis isn’t a mere nail right now, he’s a big wedge, so hopefully the Jets’ hammer is of the sledge variety.
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Brendan:
I hear you went to the beach. Be careful with the suncbock, read somewhere that the Chems are more harmful than the rays…..anyway….
Looks like you don’t remember my complete article which also said:
“SD:
I believe the Jets actually do have the ‘right of first refusal’ by holding the option of the last two yrs in his contract!!……………………………………..However, Tannenbaum would be dumb to allow that to happen because he can possibly enter into a bidding war in a No Win situation.” -
Yeah, I didn’t go back and read the old comments you were referring to. If that’s indeed what you wrote, than we’re basically in agreement. The last thing Tanny needs is to have a competitor in the bidding for Revis. Keep it in-house, that’s the only way he can have Revis without overpaying by an insane amount (a slight overpay is probably where we’re headed, which is the norm).
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Brendan:
“……If that’s indeed what you wrote, than we’re basically in agreement.”
See, there you go again, questioning my integrity, or should I say validity !!
Then we do agree that Tannenbaum is underbidding (selling short?) his players AGAIN !!!
The fact is that Tannnenbaum did NOT see the Value of Coles to the TEAM, just like he doesn’t see the value of his core, loyal players to the TEAM.
The value of Green $$$$$$ ALWAYS trumps over the value of Green & White to Mr. Beancounter.
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Hah, wtf? Even when I put the sword away and agree, we’re still arguing? This is comical.
And I never meant to come off as questioning your validity/integrity. That was me basically saying “I’ll take your word for it”.
Um, what value would Coles have had last year? Our #2 receiver (whether that was Cotch or Braylon is debatable) was better than Coles.
Coles? Loyal? The guy who skipped town for the bigger paycheck in D.C.? The guy who openly criticized the team’s management and complained about his usage & earnings? Remember, the Jets were the team that gave him his first break in the league, and he wasn’t very loyal to them. Come on Hank, WE WERE SO CLOSE!
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Brendan:
WTF? I’l tell you what WTF is.
Because the only thing comical is your posts, always defending your BILLIONAIRE boss’ $$$$ and never siding with LOYAL, CORE players………that WTF is, comical, your jokes are !!!
Coles wasn’t loyal by going in the slot?, getting cuncussions? playing banged up?
I guess to you a players loyalty is measured ONLY by the amount of salary a player is willing to give back to his boss, a guy that owns him?
C’mon Brendan wake up and smell the true odor of capitalism !! What is this “All for the good of the throne” ?
And as far as the “Jets not needing Coles”, you are really funny.
I guess they realized how much they did NOT needed after one fourth of the season had passed and decided to give up four for one for his replacement (Braylon).
And, I also guess they realized that Coles replacement was soooo efective, that the had t give up additional picks to help out Coles replacement’s replacemet?
C’mon Brendan, get off the high chair and join the working stiffs. It’s because of plebe like us that Mr. Puppet Face had to lower the cost of PSL’s.
Come down off your high chair and join us plebes !!!
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Hank,
Again, Coles wasn’t loyal. I don’t know how you could think he was.
Loyalty is not “measured ONLY by the amount of salary a player is willing to give back to his boss”. To be honest, I don’t think there is much loyalty in sports in general anymore. But you can’t cry Loyalty about a guy who skipped town for a bigger payday, then came back, then complained about the deal that he had.
Um, I think the Jets make the Braylon trade even with Coles (who had a terrible year 500 yards/5 TDs). And playing “banged up” is only a good thing if they’re still effective. Coles playing banged up on the Jets wasn’t good because he wasn’t able to do anything.
And they go and get Holmes regardless if they have Larry Fitz and Cotch.
I don’t even know what point you could possibly be trying to make by bringing up the fact that Tanny went out and got two Pro-Bowl WRs to pair with his own Pro-Bowl WR, all 3 of which are light years ahead of Coles at this point in their careers.
Revis is being loyal to his $$$$, in the same sense Tanny is protecting Woody’s $$$$. If Revis wasn’t all about the dollar sign, he’d be under contract for a reasonable $12-13 mil/year deal. He’s not any more loyal to the Jets than they are to him.
I’m only 5’8, my chairs can’t get too high Hanker.
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Brendan:
I asked if (to you) a players loyalty is measured by the amount of “CONTRACTUAL” salary you are willing to give back to your boss, not by the amount of punishment you are willing subject your body for the good of the team !!!
You totally circumvented my question and continued you tirade about Coloe for “skipping town for a bigger payday”?
See, there you go again. Selective memory, slanting the facts, to support your weak argument.
Go back and re=read the facts and you will see that it was Mr. Beancounter The Suck-Up that refused to HONOR his contract and pay Coles the Bonus he was ENTITLED to. He also wanted to cut his salary, remember now?
So Coles had to seek his value some place else. He found it and more in Cincy.!!!
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Hank,
I figured the whole “loyalty doesn’t exist” comment would have answered your question.
Seriously, I think you need to come back to reality. When an old, over-30 football player is not playing up to their contract anymore (like Coles) than they get cut. That’s why those years of contracts are never guaranteed for player of that age.
So you can single out Tanny for the practice, but the truth is that EVERY SINGLE NFL TEAM operates this way.
“[Coles] found it and more in Cincy”. This is true. Would you have been happy paying Coles twice as much as Cotchery, and multiple millions more than Edwards? Because that is “his value” according to the Bengals.
And when did the Jets ask Coles to give his money back? He wanted an extension, the Jets offered to guarantee his remaining years, then they cut him a year premature because he had morphed into a giant Limp. If you’re referring to his release with that year still left, well, you’re way off base. Coles obviously didn’t mind leaving the Jets, giving up $6 million guaranteed in order to get that release. He wanted his $, and gave up his last year with the Jets to get it. Loyalty!
“t was Mr. Beancounter The Suck-Up that refused to HONOR his contract and pay Coles the Bonus he was ENTITLED to” – Haha you’re funny, Hank. That is not even remotely close to what actually transpired. It wasn’t a bonus, it was a salary. Tanny didn’t refuse to pay, Coles refused to play without a long-term deal. But yeah, just throw out random, incorrect statements to support your theory.
Once again, your blind bashing of anything Tanny-related exposes the baseless vendetta you have against him.
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Our team certainly missed Cole’s leadership and dedication when we went to the AFC Championship game last year.
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Brendan:
Brendan, Brendan, Brendan what is going on in that memory of yours? You know, selective memory is one of the first signs of dimentia. You do know it can afflict any one any time?
FYI Coles did have a long term contract that Tannenbaum wanted to restructure for cap purposes.
That contract had a GUARANTEE OF $6 million.As usual, Mr. Beancounter , tried to restructure (should I say SCREW) a players contract WITHOUT much concern to the player, always the green !!!
And as far as me calling it a bonus, I’m more right than not. Think about it, the only REAL $$$ guaranteed in the NFL are Bonu$e$.
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starz31:
“Our team certainly missed Cole’s leadership and dedication when we went to the AFC Championship game last year.”
FOGETABOUIT !!!
Just pray to your lucky starz that Franchez can bring the Jets to win the………………..Division!!!!
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Hank,
That guaranteed $6 million was for ONE season. Coles essentially told the team “I want to extend my contract”. They said that wasn’t happening before he finished out his current deal. A staredown ensued. They came to a MUTUAL agreement: the Jets would cut Coles, freeing him to search for a new contract elsewhere, if Coles would waive the final year (and with it, his $6 million guaranteed) of his deal.
And no, Hank, it was his salary that was guaranteed, as part of his previous agreement with the team. The year prior to Coles getting cut, Coles & Tanny reached an agreement that stated Tanny wouldn’t give Coles an extension, but he would guarantee all money in the final two years of Coles’ deal ($11 million). Coles, the greedy person that he is, played one season and then cried about wanting an extension.
Now, who has the selective memory?
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Hey Brendan:
Been busy w/daughter that is getting ready to go back to Ole Miss. She’s very involved with their football embassador program. Takes after her father, LOVES football more than I do.
Anyway, yes you’re half right in that Tannenbaum guaranteed the last two years and the $6 million was for one year. But the fact is that Tannenbaum wanted to restructure (NOT pay) the $6million for cap puposes and allowed Coles(still under contract) to negotiate his own deal with other clubs.
Wasn’t that really, really nice of our resident Mr. Beancounter?
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Hank,
Always good to have a female that loves the sport. I’ve converted a few girlfriends in my day, so until I have a daughter myself that’s about all I can do to sway the fairer sex.
As for the restructuring, he was still getting that $6 mil. The only fact that really matters was Coles wanted an extension, a long-term deal. Tanny said no way, so Coles stomped his feet and held his breathe until he got his agreement for release.
And it’s not like Tanny ever wants to restructure so he or Woody can pocket the cash, they do it so they can spend the money elsewhere.
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Brendan:
“And it’s not like Tanny ever wants to restructure so he or Woody can pocket the cash, they do it so they can spend the money elsewhere.”
You are right about that…..Like giving Million$ to Faneca for NOT playing. And….
I read somewhere that the Jets are t about the $100 milion cap # ,,,,,so it looks like he is saving tons to make Revis happy.
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Brendan:
PS. I’m quoting the CAP number as a reference only.
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interested jet,
The Jets, like every team in the NFL, is still operating by a budget, and the Jets, like they usually are since Woody took over, are one of the teams spending money.
And in regards to Faneca, they’re saving almost twice as much money than they’re paying Faneca to not play. $16+ million ($15 of which is saved in the ’11 and ’12 seasons) is worth cutting the weakest link on the O-line.
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Brendan:
Got to give you credit , guy. You can even put a positive spin on Tannenbaum’s $5.6 milliom dollar blunder !!!
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Bent says:
So can I. Faneca had a low signing bonus (only $4.2m), so the total money they spent for him over that two years was money well spent, especially with the work he did in helping some other linemen to develop. I assume they always knew he would either be cut after two or three years and structured the deal accordingly. If they paid him a 10m signing bonus and cut him now with no money owed, nobody would bat an eyelid. They just delayed the payment of that last chunk of guaranteed money for two years, which is good for cash flow, if nothing more.
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What was a blunder, Hank?
Feel free to once, just once, admit that Tanny did something right. Cutting an aging veteran to save his team money to upgrade other areas is a GOOD thing.
IF it is all true..
trade him now to the NFC and move on with it. Maybe we traded for Cromartie because of the fact we will lose Revis instead of worrying about the person playing opposite of him!
I think Dallas is always an easy 2 first rounders to trade him away. San Fran is interesting too in maybe we get and revitalize Nate Clements career and a 1st rounder. The other team I think is Green Bay in getting Charles Woodson and a 1st rounder and ofcourse there is alway Minnisota for Winfield and a 1st rounder…(no jet fan may like that)