Reiss: Brady Got Extra Money; Moss gets less

[solman]

According to Reiss, Brady's 2009 salary was increased by $2.7M as part of the recent restructuring.

Its a little uncharacteristic of the Patriots to give a player something for nothing, but Brady is obviously a special case.

We also gave Troy Brown a $50K pick me up at the end of last season, again a very special case.

I hope this will put Brady in a good frame of mind when he negotiates his big contract extension (possibly BEFORE 2009).

Reiss also reports that Moss's deal is worth a maximum of $4.5M: $2.5M salary, $0.5M roster bonus and $1.5M in incentives.

 

[psychoPat]

Sure, he's Tommy Terrific.
But ... huh ???

 

[zippo59]

If I read it correctly, it didn't say Brady got more money, he gets the same, they just pushed some of this years back so he gets less this year and more in the following years.

 

[psychoPat]

If I read it correctly, it didn't say Brady got more money, he gets the same, they just pushed some of this years back so he gets less this year and more in the following years.

Mike sez:
Here are the details of quarterback Tom Brady's restructured contract:

The Patriots took Brady's $6 million base salary in 2007 and paid $5.28 million of it to Brady in the form of a signing bonus.

That lowered Brady's base salary in 2007 to $720,000.

By restructuring Brady's contract, the Patriots saved $3.96 million in cap space in 2007.

As for the rest of the deal, Brady's base salary remained the same in 2008, at $5 million.

His base salary increased to $5 million in 2009. He was previously scheduled to earn $2.3 million in base salary in 2009.

Brady's base salary remained the same in 2010, at $3.5 million.

Brady did not take a pay cut as part of the restructure.


As i read that,
TB got 5.28 mil of this year's 6 mil paid in advance.
For cap calc purposes, the club then can amortize that over the remaining life of the contract.
But he gets the money sooner. The only change for '07 favors TB.

The cap reduction was needed only during those few hours before Moss signed his new deal here
... and while his old 9.25 mil contract was still in effect.

2008 and 2010 salaries remain unchanged.

But 2009 is up 2.7 mil.

Perhaps it's just a finder's fee for reeling in Randy.
But in any case, would Don Yee become my agent please?

 

[NE39]

The 2009 money might be separate from the contract. It sounds like he hit some sort of escalator clause and they just got around to updating it. He probably has a similar clause for 2010.

 

[smg93]

From what i understood of the situation, I thought this was a case of timing rather than amount. He got more of his money sooner so i guess in a case of "Time Value of Money", Brady did get more. But in terms of nominal numbers, they have stayed the same.

 

[maverick4]

Mike sez:

But in any case, would Don Yee become my agent please?[/COLOR]

Seriously, WHO IS THIS GUY!?

 

[psychoPat]

Seriously, WHO IS THIS GUY!?

Brady's agent.

 

[tombonneau]

From what i understood of the situation, I thought this was a case of timing rather than amount. He got more of his money sooner so i guess in a case of "Time Value of Money", Brady did get more. But in terms of nominal numbers, they have stayed the same.

Exactly. Even if Brady just takes the money he gets now and invests it conservatively in a 5.50% 1-yr CD, that's not a bad chunk of change.

Though just a pebble in a ocean for Brady ....

 

[MoLewisrocks]

The 2009 money might be separate from the contract. It sounds like he hit some sort of escalator clause and they just got around to updating it. He probably has a similar clause for 2010.

He doesn't have escalators, per se. Probably some of the usual awards and achievements based incentives, but those are generally in the low to mid six figures if a player makes them. His contract was difficult to craft because of the expiring CBA and all the confusing rules that triggered regarding salary vs. bonus and length of amortization. What he did have are $3M roster bonuses in the out years that also had very small salaries (no backloading in this deal). And he got some injury protection guarantee language covering all or part of his 2007 and 2008 salaries. And there was also mention that had they not exercised his bonus option in 2006 his 2009 salary would have increased to $5M.

So perhaps they just reworked that whole part while they had the file out to make it a more reasonable deal for him in the event they can't get an extension done for cap or cash reasons after 2008. This way he will make $8M (and perhaps some of that is now also guaranteed) in a year they likely originally figured he'd never see due to an eventual post CBA extension. And now he's not a must extend/re-do until 2009-2010

 

[psychoPat]

He doesn't have escalators, per se. Probably some of the usual awards and achievements based incentives, but those are generally in the low to mid six figures if a player makes them. His contract was difficult to craft because of the expiring CBA and all the confusing rules that triggered regarding salary vs. bonus and length of amortization. What he did have are $3M roster bonuses in the out years that also had very small salaries (no backloading in this deal). And he got some injury protection guarantee language covering all or part of his 2007 and 2008 salaries. And there was also mention that had they not exercised his bonus option in 2006 his 2009 salary would have increased to $5M.

So perhaps they just reworked that whole part while they had the file out to make it a more reasonable deal for him in the event they can't get an extension done for cap or cash reasons after 2008. This way he will make $8M (and perhaps some of that is now also guaranteed) in a year they likely originally figured he'd never see due to an eventual post CBA extension. And now he's not a must extend/re-do until 2009-2010

Not totally clear to me.
But still ...
makes more sense than anything i've been able to think up.

 

[Mike the Brit]

Seriously, WHO IS THIS GUY!?

That's MR Don Yee, please!