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Thread: Havent seen this posted....Revis "buyback"

  1. #1
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    Havent seen this posted....Revis "buyback"

    June 18, 2010 10:36 AM ET, by Mike Florio



    When the possibility of Jets cornerback Darrelle Revis skipping a mandatory minicamp first arose a couple of weeks ago, some believed that the Jets were hoping he'd do so, since it would void the guarantees applicable to $20 million he's scheduled to earn in 2011 and 2012.

    As it turns out, the guarantees may be irrelevant.

    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.

    The only potential limitation on his movement comes from the rules applicable to unrestricted free agency. If, come 2011, a player needs five or six years of service to qualify, the Jets could be able to apply a restricted free agency tender to Revis. That said, it's possible that the contractual language preventing the use of the franchise or transition tenders is sufficiently broad to prevent any effort to limit his movement.

    But even if the Jets can still use the highest possible RFA tender, which other team wouldn't gladly give up a first-round pick and a third-round pick in order to book a six-year vacation on Revis Island? Though the Jets would have the right to match any offer Revis receives, the reality is that, in 2011, he'll be in line for a long-term, market-value deal.

    It's unknown whether the Jets or Revis' camp previously knew about this potential complication. It's fairly safe to say that they soon will.

    Hope this isn't true. or is it?

  2. #2
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    so interesting. I feel the goal going into this season, regardless if they knew or not, was to sign Revis to a lucaritive, long-term extension. Figured Mangold as well. Revis was a tough one to sign in '07. I'm still confident he will be a Jet for the next 6 years.

  3. #3
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    the 30 percent rule will not apply with the new CBA i believe.

    that is something that happens in an uncapped year, which 2010 is. Any year following this year will not have the 30 percent rule i think. No way the NFLPA accepts something that wont allow more than a 30% increase. If there isnt a new CBA after this year there will be a lockout, so this kinda is moot.

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    [QUOTE=Mathis81;3627788]June 18, 2010 10:36 AM ET, by Mike Florio

    [B]As it turns out, the guarantees may be irrelevant.

    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.[/B][/QUOTE]

    I actually just saw this posted elsewhere and came over here to see what people thought about it. Of course I probably would have added it to one of the other dozen Revis threads, but you roll how you roll...

    SSDD

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    [QUOTE=ListerFiend;3627797]the 30 percent rule will not apply with the new CBA i believe.

    that is something that happens in an uncapped year, which 2010 is. Any year following this year will not have the 30 percent rule i think. No way the NFLPA accepts something that wont allow more than a 30% increase. If there isnt a new CBA after this year there will be a lockout, so this kinda is moot.[/QUOTE]

    RE the 30%, you are probably right, but I would think it at least partially depends on when Revis can opt out. Everything says he can opt out after this season, but does anyone know the date? Post SB? End of league year? If it is the former, he very well maybe able to opt out before the new CBA (assuming there is one) takes effect .... could be interesting.

    SSDD

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    [QUOTE=SEPatsFan;3627808]RE the 30%, you are probably right, but I would think it at least partially depends on when Revis can opt out. Everything says he can opt out after this season, but does anyone know the date? Post SB? End of league year? If it is the former, he very well maybe able to opt out before the new CBA (assuming there is one) takes effect .... could be interesting.

    SSDD[/QUOTE]

    if he opts out before the new CBA, he wont get a new contract with any team before a new CBA is in place due to the potential lockout. Then once the new CBA is in place we can buy back i think.

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    [QUOTE=ListerFiend;3627812]if he opts out before the new CBA, he wont get a new contract with any team before a new CBA is in place due to the potential lockout. Then once the new CBA is in place we can buy back i think.[/QUOTE]

    Maybe, again I think it would come down to how the contract is written, and what time frames are specified in the contract IE when can he opt out, and how long do the Jets have to buy back.

    SSDD

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    [QUOTE]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.
    [/QUOTE]

    Bull****. The contract and all of it's parameters were already approved by the league. Tannenbaum is meticulous and knows the contract rules as good as anyone.

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    [QUOTE=Buzzsaw;3627841]Bull****. The contract and all of it's parameters were already approved by the league. Tannenbaum is meticulous and knows the contract rules as good as anyone.[/QUOTE]

    My first response would be that when the contract was written three years ago, no one would assume we would get to this point without a CBA. Now of course assuming anything is stupid when dealing with mulitmillion dollar contracts, but it is a possibility.

    I started looking around, and while I didn't look that deep, I did find mentions of the 30% rule that predated Revis' '07 contract (I found one in '06, so I stopped looking at that point), so claiming Tannenbaum didn't know about the rule, or that it post-dated the contract aren't valid.

    I also found the following post, which explains what the rule actually is a little better:

    [url=http://www.askthecommish.com/salarycap/faq.asp]LINK[/url]
    [quote]
    Question 1.7a ...

    ...The "30% Rule" governs veteran contracts that are entered into in a capped year and extend into the final year of the CBA. The rule states that these contracts cannot have an annual increase of more than 30% of the salary, excluding amounts treated as a signing bonus, provided for in the FINAL CAPPED YEAR. If the CBA is not extended, then 2009 will be the final capped year and this contract would not be valid. [/quote]

    According to that, it definitely sounds like Revis' contract falls under the rule.
    1) It was entered into during a capped year ('07)
    2) and it extends into the final year of the CBA

    Now again alot of it depends on how the guaranteed money is allotted, IE is it a bonus? Salary? I would think if it is a bonus, all of this is about nothing, the 30% rule doesn't effect that. If it is a salary, it does effect it as it is at greater than 30% bump in salary.

    Again too much is unknown to really know if this is going to be an issue, but it is kinda interesting.

    SSDD

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    [QUOTE=Buzzsaw;3627841]Bull****. The contract and all of it's parameters were already approved by the league. Tannenbaum is meticulous and knows the contract rules as good as anyone.[/QUOTE]

    I'd agree with this but would love to hear Tanny discuss the situation....which he likely won't do.

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    [QUOTE=jetstream23;3627870]I'd agree with this but would love to hear Tanny discuss the situation....which he likely won't do.[/QUOTE]

    If I ever ran into Tanny, this is the kind of thing I'd want to ask him. If you ask him about player development/evaluation, etc. he'll likely give you his wishy washy "We love this guy as a player/person" crap. But, if you ask him "Hey Mike, did you take into account the 30% rule and the possibility of an uncapped year when you created the 'buyback' provisions in Revis's contract?" he'd probably first looked shocked and then may even answer it.

    My guess is that this is just another in a long list of leaks from both sides in an attempt to get leverage in these negotiations.

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    If true, it certainly explains why the Jets would consider re-negotiating with three years left.
    Because it is more like one year left.

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    We have all speculated on why Revis was so adamant about renegotiating and we have all equally speculated WHY the Jets would seem to be willing to redo a deal that had 3 years left on it. Now we know why. He can opt out at the end of THIS coming season.

    Face it Jet fans, a deal WILL be done. Revis would seem to have sufficient leverage. I guess he always had it, we just didn't know why. The only questions now are for how long and how much....and what the impact will be on the salary structure and the many other key players with salary issues.

    You can all go back to patting yourselves on the back and telling the rest of the league how talented your team is. :rolleyes:

  14. #14
    [QUOTE=patsfanken;3627880]We have all speculated on why Revis was so adamant about renegotiating and we have all equally speculated WHY the Jets would seem to be willing to redo a deal that had 3 years left on it. Now we know why. He can opt out at the end of THIS coming season.

    Face it Jet fans, a deal WILL be done. Revis would seem to have sufficient leverage. I guess he always had it, we just didn't know why. The only questions now are for how long and how much....and what the impact will be on the salary structure and the many other key players with salary issues.

    You can all go back to patting yourselves on the back and telling the rest of the league how talented your team is. :rolleyes:[/QUOTE]

    Nice. You can go back to obsessing over us. :yes:

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    [QUOTE=Buzzsaw;3627841]Bull****. The contract and all of it's parameters were already approved by the league. Tannenbaum is meticulous and knows the contract rules as good as anyone.[/QUOTE]

    ...and I'm sure THIS is why he's been willing to talk about redoing a contract that seemingly had 3 full years to run.

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    [QUOTE=patsfanken;3627880]We have all speculated on why Revis was so adamant about renegotiating and we have all equally speculated WHY the Jets would seem to be willing to redo a deal that had 3 years left on it. Now we know why. He can opt out at the end of THIS coming season.

    Face it Jet fans, a deal WILL be done. Revis would seem to have sufficient leverage. I guess he always had it, we just didn't know why. The only questions now are for how long and how much....and what the impact will be on the salary structure and the many other key players with salary issues.

    You can all go back to patting yourselves on the back and telling the rest of the league how talented your team is. :rolleyes:[/QUOTE]

    Except that if there is no salary cap, he won't be a FA, as it says in the article - he'll be an RFA. The Jets can tender him at a 1st and 3rd and have another team do their negotiating for them. If they don't want to match the deal, they'll take the picks.

    Would I rather have Revis than a first and 3rd rounder? Yeah, probably, but that would be the worst case scenario.

    Does this factor raise his leverage somewhat? Yeah, perhaps, but it doesn't fundamentally change the playing field. Its a forgone conclusion at this point that they are going to negotiate a deal. Even if we would potentially become a FA next year, that still a long ways away for Revis. He still doesn't want to risk his payday by playing a season for $1 million.

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    [QUOTE=patsfanken;3627883]...and I'm sure THIS is why he's been willing to talk about redoing a contract that seemingly had 3 full years to run.[/QUOTE]

    Or it could be that the Jets want to front-load a bunch of cash now due to the uncapped season. They can also get out of the provision on his rookie deal that they would not be able to use the franchise tag after his contract expires.

    All this has probably been mapped out for a long time, the team is really in good hands with Tannenbaum. It's pretty much out of the realm of possibility that Tannenbaum's been blind-sided by these clauses he hadn't thought of, while Mike Florio figured it out sitting behind his keyboard.

  18. #18
    A few things. One when the deal was signed 2012 was supposed to be an uncapped season, so usually to accept a deal the NFL has to take this stuff into account. Granted his 2011 salary (which is what the 30% rule would have been based on) was different than the 2009 one, but 5 million ---> 11 million is certainly more than 30%. Secondly most NLTBE contractual payments are never included in 30% or 25% calculations. Revis' ability to void the deal and thus the Jets ability to buyback the deals are all based on NLTBE incentives. The 30% rules in the CBA specifically talk about buyouts based on such incentives not counting towards the 30% rule. A buyout is different than a buyback(one is a bonus payment and one is escalated salaries), but Id imagine that they would be treated the same way. My guess is this is much ado about nothing.

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    [QUOTE=Jason423;3627936]A few things. One when the deal was signed 2012 was supposed to be an uncapped season, so usually to accept a deal the NFL has to take this stuff into account. Granted his 2011 salary (which is what the 30% rule would have been based on) was different than the 2009 one, but 5 million ---> 11 million is certainly more than 30%. Secondly most NLTBE contractual payments are never included in 30% or 25% calculations. Revis' ability to void the deal and thus the Jets ability to buyback the deals are all based on NLTBE incentives. The 30% rules in the CBA specifically talk about buyouts based on such incentives not counting towards the 30% rule. A buyout is different than a buyback(one is a bonus payment and one is escalated salaries), but Id imagine that they would be treated the same way. [B] My guess is this is much ado about nothing[/B].[/QUOTE]

    Its the Revis' camps latest salvo in return for the Jets leaking the $100 million offer it was set to make. Pretty creative one, actually.

    Are Feinsod and Schwartz trying to become the pariah agents in the league? They only have a few marquee clients -Revis, Roddy White and VIncent Jackson - and each one of them is (or has) engaged in a major contract dispute.

    I don't think that's a coincidence.

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    [QUOTE=crasherino;3627977]Its the Revis' camps latest salvo in return for the Jets leaking the $100 million offer it was set to make. Pretty creative one, actually.

    Are Feinsod and Schwartz trying to become the pariah agents in the league? They only have a few marquee clients -Revis, Roddy White and VIncent Jackson - and each one of them is (or has) engaged in a major contract dispute.

    I don't think that's a coincidence.[/QUOTE]

    Well Kendall is gone and no one wants Baker so they have to get the guys they have left to cause as much mayhem as possible..:yes:

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