Tuesday Thoughts
Posted By Andrew Brandt On February 24, 2009 @ 11:30 am In The Busine$$ of Football
The Nnamdi Asomugha deal with the Raiders last week continues to send shock waves through the NFL. One of the major contractual differences between the NFL and Major League Baseball, as well as the NBA, has always been guaranteed contracts and a team’s ability to get out of a contract that’s not working. The other two leagues have had those become the norm; the NFL, to this point, has not ventured down that road.
The most stunning contract in 2008, in my mind, was that of Larry Fitzgerald. Because of the highly leveraged situation he and agent Eugene Parker created with their escalated rookie contract, Fitzgerald was able to garner a four-year, $40M contract with an unprecedented 75 percent of it – $30M – guaranteed. Until then, we had not seen that level of guarantee in a substantial contract.
Now, Asomugha has a completely guaranteed contract for the two years prior to the third-year option. All $28.6M of the two-year contract is guaranteed. Assuming he hits some easily attained incentives, he will also have a third year guaranteed, bringing his total guarantee to more than $45M. He would become the league’s highest-paid player in terms of average per year and would have an unprecedented, fully guaranteed contract similar to those in the NBA and MLB. …
We’re at a time when yesterday’s splashy signings are becoming today’s agate-type terminations in the newspaper transactions section. As we’ve mentioned, Jacksonville needed only one season to realize the error of its ways in signing Jerry Porter and Drayton Florence. Oakland has now done the same with Gibril Wilson, a marquee signing at this time last year but now discarded into the free market again (along with Kwame Harris and Justin Griffith — more contracts out the door to make room for Asomugha’s deal). A team’s treasure can quickly become the same team’s trash, although it used to take at least two seasons before that took place. Now it’s happening more quickly than ever before. …
Marvin Harrison’s scheduled $9M salary in 2009 may turn to zero by the end of the day. Harrison, synonymous with excellence over the past decade, has requested, and will be granted, his release by the Colts. He signed a seven-year deal in 2004 for $67M, becoming the highest-paid receiver in the league in terms of contract average, a title he held for several years until deals for Randy Moss and Fitzgerald in 2008. Now, that contract will turn to dust. Harrison seemed very much a player who would always be a Colt, but declining production, a tight Cap situation and a refusal to take a pay reduction have changed that plan. The list of players who spend their entire careers with one team continues to grow shorter and shorter. …