Thanks.

I see it was explained much better in the SI/Peter King link.

I’m pretty sure you don’t have to pay an agent a fee for an injury related insurance settlement. And lawyers fees for an injury settlement should be provided by the Union.
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Wrong again my clueless friend. Those agents fees are earned when the rookie contract is first negotiated. Obviously, you’ve never been around money.

“Guaranteed contracts for injury. This went over everyone’s heads all weekend. Let’s say a player signs a three-year, $6-million contract with a $2-million bonus and salaries of $1.1 million, $1.3 million and $1.6 million. And say he gets a career-ending injury in game five of the first season. He keeps his bonus. He keeps his first-year salary. That’s normal. Now he’d get to keep $1 million of his year-two salary and $500,000 of year three. In the old days, he’d have been able to keep the bonus and year-one salary, a total of $3.1 million. Now he’d be able to pocket $4.6 million because of the maximum of $1.5 million in injury-protection money.”

Read more: http://sportsillustrated.cnn.com/2011/writers/peter_king/07/24/labor/index.html#ixzz1T89XDMzy

I trust the way he breaks it down.

If a rookie gets injured in year 1, he keeps his year 1 salary AND signing bonus.

THEN, if years 2-4 of his rookie contract total MORE than $1.5 million (say $2M), then he’ll only get $1.5 million as protection (losing out on $500K).

If years 2-4 of his rookie contract total LESS than $1.5 million (say $1M) , then he’ll get that full $1M.

Meaning the most he’d get as protection for career ending injury is $1.5M. Before, they got nothing. So, it is a better deal for the players.

I’m pretty sure you don’t have to pay an agent a fee for an injury related insurance settlement. And lawyers fees for an injury settlement should be provided by the Union.

If you’re gross is 2 million, and you’re going to pay taxes on it no matter what, you still end up with over a million dollars. If its invested properly and you live within your means, you should be able to live the rest of your life.

Of course most people here would get a million bucks and immediately go buy a Bentley and party like its going out of style, so I wouldn’t expect anyone to really understand how to live an extended period of time on a lump sum of cash.

“So if the rest of the rookie’s contract in years two-through-four totaled more than $1.5 million, he would get $1.5 million. If the remainder of the rookie’s contract was less than $1.5 million, he would get all the money due to him.”

That’s saying that the player would get the lesser of the two amounts… shouldn’t he be getting no less than $1.5 million?

You ever heard of taxes agents and attorney fees? Now, how much do you have to live on for the rest of your life? What a dumb azz.

@bleedgreen – you need to read this more closely. The players don’t get a $1.5M payout, plus their salary. They get $1.5M maximum. Some players may get far less (imagine a UDFA making rookie minimum for three years with no bonus).