Geno Smith deal ties big money to workout bonuses
Posted by Mike Florio on July 22, 2013,
If any NFL agents are thinking about writing rap lyrics bashing Jay-Z, they now have a little ammunition.
Per a source with knowledge of the details of the deal, Jets quarterback Geno Smithís contract ties nearly $700,000 to Smith participating in the teamís offseason voluntary workout program.
Specifically, $276,328 of Smithís $861,328 compensation in 2015 depends on Smith showing up for the otherwise voluntary offseason drills. In 2016, $414,491 of Smithís $1.08 million compensation in 2016 is tied to working out in the offseason.
Typically, players must participate in 80 percent of the offseason workouts to earn the bonus. For Smith, this puts extra pressure on him to be able and willing to show up and work out in the final two years of his deal. If he fails to meet the minimums, heíll potentially lose hundreds of thousands of dollars.
Itís not unprecedented for the Jets to use workout bonuses in rookie deals, but the amounts have been much lower. Last year, for example, second-round receiver Stephen Hill had $50,000 tied to workout participation in 2013, and $100,000 each in 2014 and 2015. Still, some will look at the decision to tie nearly $700,000 of compensation to Smithís decision to show up and work out as an indication that the Jets are concerned that, without a clear financial incentive to put in the work, Smith wonít.
The clause also sets up inexperienced agent Kim Miale and her boss, Jay-Z, for criticism from the agent community, which tends to criticize anyone and anything if it means helping them expand their portfolio of clients. In this specific case, given the details of the rookie deals signed by the players taken before and after Smith, the criticism may be justified.
You heard drugs don't work? Great tune, provided a link if you have not.
Kudos on knowing who he is not being big in the states, great find.
Here's my response to Florio's analysis that will likely get removed from PFT website:
Mike Ė that is one spin on the contract language, as expected you took the negative spin.
Another spin on the contract language is that it can be very favorable Geno who now has very easily attainable incentives for guaranteed money late in the contract.
Suppose 2015 and 2016 roll around and Geno is a bust? He is nothing more then a 2nd or 3rd string QB. The Jets could easily cut him in any of those years. ButÖ.if heís around for those offseason workouts he still gets that money.
I donít see how obtaining a contract with easily attainable incentives is a bad deal for a player or reflects badly on the agent.
Would you rather have guaranteed money tied to winning the Superbowl and/or making the Pro-Bowl Ė or have it tied to the player showing up to a few offseason workouts that most players attend anyway?
It didnt take long for Cimini to run with it as well.
Rich Cimini @RichCimini
Report: Geno's deal tied to workouts: Interesting wrinkle in Geno Smith's four-year, $5 million contract:
Report: Geno's deal tied to workouts
Interesting wrinkle in Geno Smith's four-year, $5 million contract:
About $690,000 is tied to his participation in the voluntary off-season program, according to ProFootballTalk.com. It comes into play during the final two years of the deal. In 2015, $276,328 of his $861,328 salary hinges on him showing up for at least 80 percent of the workouts. In 2016, it's $414,491 of $1.08 million. Essentially, they're workout bonuses in lieu of guaranteed base salaries.
This sort of thing isn't unprecedented in rookie contracts (the Jets did it last year with WR Stephen Hill), but this is getting more attention because it was the first deal negotiated by Jay Z's Roc Nation Sports.
It's being speculated the Jets wanted to include the workout language because they're concerned about Smith's desire to participate in the offseason. While that can't be ruled out, the more logical reason is that it allowed the two sides to bridge a gap in the negotiations.
Smith was drafted in the second round, same as QBs Colin Kaepernick and Andy Dalton in 2011, and he was playing off their contracts, seeking guaranteed money in the third year. GM John Idzik was opposed to that. The workout "bonus" allows Smith to earn easy money (as long as he shows up) before the start of the season. But it's not guaranteed. If they cut him before he completes the off-season program, he gets nothing. Also, as we learned with Darrelle Revis, Idzik won't cut him any slack if he misses workouts.
Next step in moving forward cant wait to see what he can do.
No idea if anything came of it... Honestly, I think they're kind of our weaker ones, but they would've fit for whatever it was... lol.
If you here anything similar to cas or produce something of your own worth a listen, give me a shout or pm me.
I just don't see how Hill can be good. He has no instincts, ball skills, can't catch, has no idea how to use his size. I mean, Tyrone Calico was a hell of an athlete too. Look at how that one turned out.