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Team exec thinks Jay-Z’s approach to Geno Smith deal was overdue

Geno Smith AP

The contract recently signed by quarterback Geno Smith with the New York Jets was unconventional, in one significant respect.  Nearly $700,000 in 2015 and 2016 compensation has been tied to Smith’s participation in offseason workouts.

Agents likely will use that point against Smith’s agent, Kim Miale, and her boss, Jay-Z.  It forces Smith to do something more than be available for a mandatory minicamp, training camp, the preseason, and 16 regular-season games to get his money, and it puts him in position to lose hundreds of thousands of dollars if, for whatever reason, he can’t attend the offseason program.

But at least one high-level team executive had the opposite reaction.

“I have wondered for years why more agents don’t do what Smith just did,” the source said. “Great for cash flow if you were going to workouts anyway, and every quarterback does. Also, if you are getting cut you have a bunch of money in your pocket before you go to camp. It would be great for established agents to explain why they aren’t using this structure.”

It’s a good point. If the player plans to participate in the offseason workouts anyway, it’s a way to earn money in advance of the season. Then, if Smith is cut between offseason workouts and training camp in 2015 or 2016, he’ll essentially get to double dip, since he will have received a big chunk of his compensation by showing up for offseason workouts.

Still, agents competing with Jay-Z won’t see it that way. It’s a nasty, cutthroat business, and plenty of agents tend to do whatever they can to fend off actual or perceived threats.

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45 Responses to “Team exec thinks Jay-Z’s approach to Geno Smith deal was overdue”
  1. dondada10 says: Jul 22, 2013 11:14 PM

    FYI, he dropped the hyphen. It’s Jay Z.

  2. shadowcell says: Jul 22, 2013 11:18 PM

    Other agents don’t do that because it means committing their clients to more work and giving them an incentive not to hold out for a better deal through the offseason, and thus miss offseason work . One would hope that their clients, being professional athletes, wouldn’t mind working more, but the whole goal of an agent is to get the best possible deal for their client.

  3. jetsoptimist says: Jul 22, 2013 11:27 PM

    Now would be a good time to point out the haters that said he’s lazy and whatnot! I believe he’ll be a hard worker and I think it shows with his contract. He’s not afraid of a little hard work, who knows if he will be good, great, average or a bust, but it seems like he will study and work hard!

  4. gerard33 says: Jul 22, 2013 11:32 PM

    Florio’s trying to get his name in a Jay-Z lyric, and he just might do it

  5. sfm073 says: Jul 22, 2013 11:37 PM

    It’s a great deal for geno, and I don’t know why the jets would agree to it. The guy will get paid just to show up to a building. Workout bonuses are a joke.

  6. amac0109 says: Jul 22, 2013 11:39 PM

    When can we start using Jay-Z’s actual name? seems like he might actually make this agent thing work.. Does he insist on being addressed a Jay-z? Usually everything I post is somehow sarcastic or a joke.. This is a serious question

  7. mikebaltimore12 says: Jul 22, 2013 11:40 PM

    He ditched the hyphen..get it right

  8. EJ says: Jul 22, 2013 11:47 PM

    Wouldn’t it be crazy if Jay-Z took over the market and changed the way Agents look at contracts? A new revolution, you never know.

  9. truthfactory says: Jul 22, 2013 11:48 PM

    I’m no agent, but I would think the reason many agents don’t do this is because it is a double penalty if a player decides to hold out for a higher contract in future years.

    Imagine if Geno does really well over in 2013 and 2014 and wants a new contract in 2014 or 2015. Is he gonna hold out and cost himself hundreds of thousands of dollars and may still not get you a new contract?

    But thats what happens when you hire a full time rapper/ celebrity/ fashion icon/ politician/ who also does NFL contracts on the side.

  10. curtispaintersbackup says: Jul 22, 2013 11:51 PM

    A few days ago Jay Z dropped the hyphen in his name. Why? Who knows.

  11. canetic says: Jul 22, 2013 11:55 PM

    If a “team executive” loves it, odds are it’s a bad deal for the player.

  12. touchdownroddywhite says: Jul 22, 2013 11:57 PM

    Very interesting take on it. I’m inclined to believe that this is more likely than Jay-Z getting hosed on a deal in NY.

  13. winninitall says: Jul 22, 2013 11:59 PM

    Deals like this keeps players out of trouble in the off-season. To bad we don’t see more contracts like this. You get paid to play, why not practice for say.

  14. marcinhouston says: Jul 23, 2013 12:01 AM

    If he would work out anyway, it also reduces any salary he might lose to per-game suspensions right? Also, if a team is going to cut him, it forces them to decide earlier, when he can still catch on with another team. Finally, it is in the agents interests for the client to work out. The only problem would be if Smith is hurt or has legal troubles that prevent working out.

  15. frankyvito says: Jul 23, 2013 12:11 AM

    Jay-Z is smarter than you.

  16. lancer120 says: Jul 23, 2013 12:14 AM

    “It’s a good point. If the player plans to participate in the offseason workouts anyway, it’s a way to earn money in advance of the season. Then, if Smith is cut between offseason workouts and training camp in 2015 or 2016, he’ll essentially get to double dip, since he will have received a big chunk of his compensation by showing up for offseason workouts.”

    Correction, Mike. It is a great point. Perhaps you should retract your last article…

    The story seems to be that Jay-Z and RocNation (one step ahead per usual) got Geno significantly higher bonuses than ANYONE else in the second round received for attending workouts he’s going to attend anyway.

  17. b3nz0z says: Jul 23, 2013 12:39 AM

    I think HOV will be ok

  18. fafaflunky says: Jul 23, 2013 12:45 AM

    if you show up you get paid..
    genious buisness approach,
    wow wish i would have thought
    of that..

  19. stlunatik says: Jul 23, 2013 1:22 AM

    Man’s a genius. I’m just sayin

  20. harrisonhits2 says: Jul 23, 2013 1:22 AM

    Agents are among the lowest forms of human life. Of course they don’t like anything that might change the way they do business which for most of them maximizes what they make at the expense of what might be best for the players.

  21. crj202 says: Jul 23, 2013 2:10 AM

    “NFL investigations, o don’t make me laugh”- HOV

  22. jgome says: Jul 23, 2013 2:21 AM

    It’s Jay Z now bro!

  23. piemasteruk says: Jul 23, 2013 2:37 AM

    The Jets have 99 problems, but Geno Smith attending off-season workouts ain’t one.

  24. akboot says: Jul 23, 2013 2:58 AM

    Do you you nfl players know what you’re getting into with this j-z clown?
    My colluddage digrie splains it Plz.
    You’re dumb
    Uneducated
    any purpose
    F-the world
    I’m who they said I am, don’t question me, I’ll kill ya.

  25. lostsok says: Jul 23, 2013 3:34 AM

    Great, now Mark Sanchez is going to want a centerfold bonus for every shirtless beefcake pose he makes.

    Although at least that way he’ll still earn SOME of his check.

  26. determineflksmakeit says: Jul 23, 2013 3:41 AM

    but you JUST said….

  27. enochmh2 says: Jul 23, 2013 5:17 AM

    Well i suppose you dont make $500 million dollars without a thinking head,he seems to know what he’s doing so far

  28. murtdurt says: Jul 23, 2013 5:42 AM

    These other agents won’t threaten jay z he’s creating the new rules

  29. greenmeattruck says: Jul 23, 2013 5:44 AM

    I didn’t think the “rapper/agent” idea was a good one at first, but I’ve gotta hand it to Jay-Z, he brought a different idea to the table, and I think it’s a good one.

  30. bigjimatch says: Jul 23, 2013 6:14 AM

    Given the amount of trouble players get into in the offseason and tne competitive nature of the business, it probably in the agent`s and player`s best interest to motivate them to attend offseason workouts as well.

  31. popcrowl says: Jul 23, 2013 7:05 AM

    It’s a hard knock business.

  32. classyjacklambert says: Jul 23, 2013 7:12 AM

    If the team you signed with is really happy with your contract…. Your agent probably could’ve done a better job.

  33. orndorf2 says: Jul 23, 2013 7:14 AM

    So if he’s cut after the 2014 season he looses about 700k? Uh, yeah I won’t be signing with Jay Z.

  34. orndorf2 says: Jul 23, 2013 7:14 AM

    Loses….I meant to say

  35. jimmysee says: Jul 23, 2013 7:22 AM

    Agents criticize this because the goal is “mailbox money.” Do nothing. Get paid. No matter what.

    With workout bonuses, the client has to actually do something.

  36. yojoemama says: Jul 23, 2013 7:27 AM

    Jay-Z should stick to what he knows best: music. Now with his Mars ego, he wants to be a Superman sports agent. I hope he fails miserably.

  37. therealtrenches says: Jul 23, 2013 7:31 AM

    “I have wondered for years why more agents don’t do what Smith just did,” the source said. “Great for cash flow if you were going to workouts anyway, and every quarterback does.”

    That is the most disingenuous load of hooey I’ve read in awhile.

    This arrangement doesn’t increase the amount the player can make, it takes part of his Pre determined value and puts it in jeopardy. And now, if a player has a legitimate reason to miss one of these events, the burden of proof is on him if he wants to keep his money. Nice work, Jay.

  38. betterandbetterthan says: Jul 23, 2013 7:37 AM

    It’s great for the player as he gets money during a time he wouldn’t, as the executive told you. It’s great for the agent as the player is definitely showing up for workouts which has two positive effects 1. He should stay out of trouble as he is accounted for and 2. He is around the coaching staff and can/should improve making the possibility of a bigger second contract increase. Unless the player is losing signing bonus money this is a plus.

  39. valhalla2013 says: Jul 23, 2013 8:45 AM

    ZZZZZZZ

  40. jiveturkeygobbler says: Jul 23, 2013 8:56 AM

    You’d think Jay Z could afford a proper name now. Time to grow up buddy. Isn’t that clown like 40 years old?

  41. orivar says: Jul 23, 2013 9:16 AM

    “Great for cash flow if you were going to workouts anyway, and every quarterback does. Also, if you are getting cut you have a bunch of money in your pocket before you go to camp.”

    That’s a very good point, never thought of it like that.

    “Isn’t that clown like 40 years old?”

    That ‘clown’ paved his way to success and is bigger than you, I, and everybody on this website will ever be. I think you should reserve the name calling for people who are insult other people they don’t know through the internet on irrelevant subjects, like their rap name.

  42. zeke2517 says: Jul 23, 2013 11:26 AM

    …What’s the threat? How will other agents “use that point against Smith’s agent?” You’re making things up again, Arnold.

  43. bigblu73 says: Jul 23, 2013 12:54 PM

    The mans name is Shawn Carter. Mr. Shawn Carter when it comes to the 500+ Million he has accrued over his lifetime. Jay Z is just his stage name, its a character people!!!! Jay Z is not negotiating deals as an Agent, HE OWNS THE AGENCY!!! He’s not negotiating deals anymore than Kraft, Jones, Blank, or Mara are negotiating deals. He is in partnership with CAA and other experienced agents to do that part of the business. What he does best is open doors to additional revenue streams that the players and agents wouldn’t be able to tap into otherwise.

  44. lancer120 says: Jul 23, 2013 2:49 PM

    Obviously the Jets were unwilling to guarantee any of Geno’s 3rd year salary so JayZ got him maximum bonuses. Which means if Geno shows up to workouts (like any 3rd year QB would), the Jets owe him a significant portion of his salary, which makes it far less likely that he will be cut during camp. Thus it provides Geno with a big chunk of his salary during the offseason and protects him from being cut.

    Good luck spinning that as a bad thing for Geno or RocNation.

  45. 4ever9er says: Jul 23, 2013 3:50 PM

    @
    akboot says: Jul 23, 2013 2:58 AM

    Do you you nfl players know what you’re getting into with this j-z clown?

    Yes, I’m sure they know who they are dealing with since he’s worth more than any of them that his company represents! What we don’t know is why anyone would listen to a Broke Down CLOWN like yourself! I’m guessing your college degree got you what, a little extra time on your coffee break so you can try and Bash someone who’s actually SUCCESSFUL?

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