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Offline Zero2Cool  
#1 Posted : Friday, August 22, 2008 3:18:03 PM(UTC)
Rank: Premier Member

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Quote:
In the monumental trade of Brett Favre from the Packers to the Jets, there appears to be a twist in the contract that has not been previously reported.

The Jets admirably did not renegotiate Favres 12M salary this year to fit the contract under their Cap, resisting temptation to gain some short-term Cap relief in exchange for added Cap charges from this contract next year and the year after.

We have learned that the contract was renegotiated, however. The terms on the back side of the deal have been altered to the benefit of Favre.

When I negotiated this 10-year, 101M contract in 2001, it required, as all Packer contracts do, a number of appearances on behalf of the club, some workers compensation guidelines, and bonus recovery provisions in case of immoral behavior or retirement. Those clauses are standard boilerplate in the industry. Now in year eight of ten, that contract was assigned to the Jets in the recent trade.

The contract, however, no longer contains those terms. According to multiple sources, there is no backside to the existing contract between Favre and the Jets. Favres agent, Bus Cook, and the Jets have renegotiated the contract to consist of the identical financial terms from the Packers contract 12M this year, 13M next and 14M in 2010 and nothing more. The language concerning appearances for the club and recovery of bonus due to retirement is no longer part of the deal.

Favre, if willing, is free to make appearances on behalf of the Jets to promote the team as it starts to play in a new stadium next season, but he has no contractual obligation to do so. Favre can also retire from the Jets at any time and have no obligation to forfeit any of the bonus monies he has received (Tampa Bay recovered 3.5M from Jake Plummer after trading for a contract that required recovery upon retirement).

A renegotiation such as this could present a dangerous precedent for players who are traded and make certain non-economic demands, as well as for star players who want concessions outside of salary and bonus provisions.

However, it is understandable that Mike Tannenbaum and the Jets made some concessions to bring this iconic brand to their franchise. With Favres tepid interest in playing for the Jets an issue prior to the trade, the renegotiation of his marketing and bonus recovery rights made the trade more palatable to the Favre camp at the time.

Another nugget from the Favre-Packers-Jets biopic; more to come in weeks ahead.
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Fan Shout
Zero2Cool (27-May): Penguins are in the Finals!!
Zero2Cool (24-May): Slim Eddie Lacy!
Zero2Cool (11-May): Yeah I was kind of stunned myself. Gordon is pretty much done I believe
TheKanataThrilla (11-May): Wow they kept that secret since January. Impressive leak control.
Zero2Cool (10-May): A source confirmed that Gordon had microfracture knee surgery in January.
Zero2Cool (10-May): I think that surgery was done in Jan, not coming up.
TheKanataThrilla (10-May): Melvin Gordon gettting microfracture surgery.
IronMan (10-May): Curry is so fun to watch
uffda udfa (9-May): Packers waive DT Josh Boyd.
Zero2Cool (9-May): Dan Patrick is a good one, but geez his commercials are ear punishers.
Zero2Cool (9-May): Bill Michaels is good. Rome blows. Jay Mohr is weird.
Zero2Cool (9-May): He's one of the few I enjoy listening to. Albeit, on the short Fox Sports segments Sunday morning.
Pack93z (9-May): But he certainly invokes me wanting to turn the channel... yes... he does that well.
Pack93z (9-May): How... he might think outside the box, but fails to look at all aspects before forming an opinion. For me... he does not invoke thought... t
Zero2Cool (8-May): He's easily thought-provoking too. He thinks outside the box.
Pack93z (7-May): He got the opinionated part right at least... specious.
Pack93z (7-May): From his podcast page... what a crock of dog dung.... The Herd with Colin Cowherd is a thought-provoking, opinionated, and topic-driven jour
Porforis (7-May): SQLzbub
Zero2Cool (6-May): uh oh ---> Size of database: 666 MB
Zero2Cool (3-May): Packers annual shareholders meeting will be held on July 21 at 11 a.m.
Zero2Cool (2-May): Packers decline option on former first-round pick Datone Jones
Zero2Cool (2-May): For the public
Zero2Cool (2-May): OTA practices: May 24, June 2 and June 6
Smokey (1-May): Pecan Waffles !
gbguy20 (30-Apr): i like waffles
Mucky Tundra (30-Apr): mmm Waffles
IronMan (30-Apr): seriously. Waffle House
IronMan (30-Apr): Waffle House!
Mucky Tundra (29-Apr): In unrelated news, a six figure sum was wired to Dr James Andrews bank account in the Cayman Islands
Zero2Cool (29-Apr): Dr. James Andrews, who examined Myles Jack in December, told the UCLA LB today that he does not need micro-fracture surgery.
wpr (29-Apr): 64321 is still available
Mucky Tundra (29-Apr): thanks wpr, now i have to change it :(
wpr (29-Apr): Right. Mucky is 12346. Big difference.
Mucky Tundra (29-Apr): because i'm smarter than he is ;)
Zero2Cool (29-Apr): 12345 didn't fare well for Tunsil, what makes you think it will for you?
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