Vicks new contract...6 yrs $100 Million!

[Thrasher865]

Hasn't been mentioned in the thread yet, so I'll just say it. It's reported closer to $80M than $100M.

[VolsNSkinsFan]

They did the math on CNBC and after taxes and all the money he owes to creditors he will only walk away with like $1.2 Million. And I guarantee Vick has no idea too.

here is the article

http://www.cnbc.com/id/44327928

[BearCat204]

Originally Posted by Thrasher865

Hasn't been mentioned in the thread yet, so I'll just say it. It's reported closer to $80M than $100M.

Where do you see that? Unless you are figuring taxes

Originally Posted by VolsNSkinsFan

They did the math on CNBC and after taxes and all the money he owes to creditors he will only walk away with like $1.2 Million. And I guarantee Vick has no idea too.

here is the article

News Headlines

A year?

[n_huffhines]

I heard the numbers were inflated. Wilbon said the guaranteed money would be closer to $30M. I don't understand why there is a discrepancy.

[BearCat204]

Originally Posted by nbakerld

I heard the numbers were inflated. Wilbon said the guaranteed money would be closer to $30M. I don't understand why there is a discrepancy.

Like I said, unless they are figuring in taxes (why they wouldnt with every other player) then I dont know why or what benefit it would be to "inflate" the numbers

[Thrasher865]

lol....

@erikmal: Michael Vick's new contract: $100 million. ASPCA's annual operating expenses: $88.9 million

[Thrasher865]

Apparently this is the issue:

By now, you've surely seen that Michael Vick's new six-year, $100 million contract with the Philadelphia Eagles is neither, truly, a six-year deal nor a $100 million deal. It can be, sure, but it's certainly not likely to last that long or pay out that much. This is the NFL, where contracts aren't fully guaranteed and the complexities of the salary cap make it easy to twist the numbers to make them look the way you want them to look. Calling it a $100 million deal is a team concession in negotiations -- makes the player and the agent look good.



Vick



Our man Andrew Brandt has a full breakdown of the deal, and there are interesting quirks to it. For instance, the sixth year (and its $20 million salary) disappears if Vick takes at least 35 percent of the team's snaps in any of the first five years. Since that's certain to happen, the deal is really only a five-year, $80 million deal even if all of the non-guaranteed money comes in.

There are also interesting stipulations tied to Eagles team success in the first two years of the deal -- specifically, the Super Bowl. If Vick and the Eagles win the Super Bowl in either of the next two years, he gets a $3 million bonus. His 2013 salary ($16.5 million, of which only $3 million is guaranteed for injury) would drop by $500,000 for each year of the first two in which he does not reach the Super Bowl. And while he's scheduled to make (a non-guaranteed) $15.5 million in 2014, that number would go up by $500,000 if he reaches the Super Bowl in any of the deal's first three years, $1 million if he wins one of those three Super Bowls or $2.5 million if he wins at least two of them.

So the guaranteed money is only $35.5 million over the next three years -- $20 million this year, $12.5 million in 2012 and a $3 million injury guarantee in 2013. The injury guarantee becomes a full skill guarantee on the second day of waivers in 2013.

But in short, this deal includes the kinds of incentives that fans like to see. The best thing Vick can do if he wants to maximize the value of his new contract is to win the Super Bowl. By now, no one should have any illusions about what the Eagles franchise is obsessing over these days.

[BearCat204]

Originally Posted by Thrasher865

lol....

Its why I asked where you got it from.

[BearCat204]

Originally Posted by Thrasher865

Apparently this is the issue:

Thanks for this link

[Thrasher865]

No, that was just a silly tweet I encountered while looking for the ESPN article.

It seems like an odd thing to put in the contract. If you're our primary guy, the contract is shorter, but if you are just a role player, we'll keep you longer. That being said, I can certainly see why this benefits the Eagles. If he takes 35% of snaps, the wear on his body will be tremendous, and they won't want him as long. I think that clause was just as ESPN said, so they could inflate the numbers to make the agent look good. Please him and you get the deal signed.

[BearCat204]

I actually like the sound of this wording in the contract better than what was reported yesterday.

[Thrasher865]

Just noticed you were an Eagles fan. I would be pleased, too.

Forgot, here is the link, but I quoted the whole article:
http://espn.go.com/blog/nfceast/post...de-the-numbers


Here is the full breakdown:
http://www.nationalfootballpost.com/Vicks-Vault.html

[DC Vol]

The Eagles aren't playing around. Maybe they'll finally join the NFC East Super Bowl club? It's tiring having the other 3 teams share 1/4 of the total Super Bowl titles.


Just getting in my shots while I still can.

[possumslayer]

Vickys 2nd half of the season wasn't that great.

[BearCat204]

Originally Posted by DC Vol

The Eagles aren't playing around. Maybe they'll finally join the NFC East Super Bowl club? It's tiring having the other 3 teams share 1/4 of the total Super Bowl titles.


Just getting in my shots while I still can.

Its going to be an awful long year for you