Attempting to make sense of the Darrelle Revis departure from the Super Bowl Champs Patriots

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Attempting to make sense of the Darrelle Revis departure from the Super Bowl Champs Patriots

Miguel Benzan

Attempting to make sense of the Darrelle Revis departure from the Super Bowl Champs Patriots

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[Ring 6]

Excellent work Miguel.

 

[grux]

Great job Miguel.

 

[mayoclinic]

Great stuff, Miguel.

The question I am struggling is why would Revis prefer a pay as you go structure from the Jets over a signing bonus structure from the Patriots. With a signing bonus he gets most of the money up-front. Please note that the Patriots often pay their large signing bonus in installments. In a pay as you go structure Revis has to wait until September to first receive any money. That is, unless the Jets agreed to deviate from the usual payment plan of 17 paychecks during the regular season. Six months of interest on $20 million is pretty significant.

I am also puzzled why Revis would prefer the pay as you go structure of the Jets over a signing bonus from the Jets. The Jets can get out of the deal and save cap space by releasing Revis before the start of the 2017 League Year. The Patriots can get out of my preferred Revis deal and save cap space on June 2, 2017. By that time a replacement will not be available in free agency.

The Patriots could have done what they did with McCourty (fully guaranteed the 2015 and 2016 salaries and have the 2017 season eventually become fully guaranteed). This would have bumped his fully guaranteed money at time of signing to $35.5 million.

Should the Patriots have matched the Jets structure? No, it would have meant a $21 million cap number for Revis ($16 million salary and $5 million signing bonus proration) in 2015. I currently have the Patriots under the cap by $13,611,603. Matching the Jets offer would have caused the Patriots to quickly create $2.4 million in cap space. As I show in this blog, the Patriots could have done so but it is not wise to make business decisions under pressure.

Very good analysis. I also had proposed deals with similar AAV and guaranteed money, but with a substantial signing bonus, and not all of the money necessarily fully guaranteed.

It's interesting that Revis chose a "pay as you go" approach with Tampa Bay in 2013, and effectively with the Pats last year. He got $16M in 2013, $12M in 2014, and $16M this year. It's consistent with his 2010 contract with the Jets as well, which had no signing bonus:

Per a source with knowledge of the situation, here’s the basic data on the Darrelle Revis deal: no signing bonus; 2010 base salary of $7.5 million; $18 million option bonus due on the first day year of the first league year after the 2010 league year ends (the language reflects the potential for a lockout); 2011 base salary of $7 million; 2012 base salary of $7.5 million; and 2013 base salary of $6 million.

And so, as of right now, Revis has $13.772 million in guaranteed money for skill and $13.772 million guaranteed for injury. As a practical matter, he’ll get one or the other, if he’s cut or if he suffers a career-ending injury.

After 2010, after he has earned $7.5 million in non-guaranteed base salary, he’ll have $21.272 million earned or guaranteed. After the option bonus is exercised, he’ll have $25.5 million in his pocket plus $6 million guaranteed for skill and $7.5 million guaranteed for injury. After the 2011 season, he’ll have $32.5 million in his pocket, with $6 million still guaranteed for skill and $7.5 million still guaranteed for injury.

http://profootballtalk.nbcsports.co...t-1625-million-per-year-over-first-two-years/

Sounds a lot like his current deal. I don't know why Revis likes it that way, but he's consistent.