|
Bill Johanesen -> RE: General Vikes Talk (5/24/2024 2:37:22 PM)
|
quote:
ORIGINAL: fmaltes
quote:
ORIGINAL: David Levine
quote:
ORIGINAL: TJSweens
quote:
ORIGINAL: fmaltes
In terms of the guaranteed money, an issue for the Wilfs may be that they are cash poor and having to place the total guaranteed contract amount in escrow will be a big deal to them. This is something that separates the ability of richer owners to provide larger guaranteed contracts than the financially weaker owners like the Wilfs. Also, the Wilfs are real estate developers, so it is likely that they do not hold a lot of "liquid wealth".
The NFL has a salary floor and cap. The Wilfs have had no problem guaranteeing money up to the cap for years. Their financial wherewithal is fine. No pro sports organization vets its owners like the NFL.
That's not what he's talking about. Even if a player isn't going to get all his guaranteed money for years, it all needs to be available the day the contract is signed.
quote:
Per current league rules, all future fully guaranteed money due in a player contract must be placed in escrow at the time the deal is consummated.
"This is actually a huge advantage to high revenue, high profit teams, and a huge disadvantage to the smaller-market teams,"
https://www.cbssports.com/nfl/news/nfl-insider-notes-deshaun-watsons-game-changing-deal-and-its-ramifications-hottest-topic-at-owners-meetings/#:~:text=Per%20current%20league%20rules%2C%20all,time%20the%20deal%20is%20consummated.
The Wilfs are one of the bottom five owners in terms of net worth and not even close to the top 15 owners. Also, I doubt they have much liquid wealth either which means they actually have to borrow the money for the quarantees that adds easily another 6%plus a year cost. I still think that they will sign Jefferson, we cannot ignore that contract guarantees are a financial issue for them and the other "poor" owners. Personally, I think the league should guarantee the contract payments to maintain parity but the richer owners will not agree. See rankings below:
https://broncoswire.usatoday.com/lists/richest-owners-in-the-nfl-rob-walton-broncos-ranked-number-one/
Wilf is bottom two according to the link with net wealth not listed. Strange way to rank but following the net wealth of owners 1-30, he may be at 1 billion. So he'd have to tie up at least 10% of his wealth. And like you said, liquidity wise it would be more.
Wilf. Convicted crooks, shitty shopping malls and desperate enough to partner with... Reggie Fowler.
He was one of a group of investors, led by Zygmunt Wilf, who purchased the National Football League's Minnesota Vikings from previous owner Red McCombs in 2005. He initially sought to be the general partner himself, thereby becoming the first minority owner of an NFL franchise, but withdrew his bid when he could not provide details about his stake in the ownership group. Instead, he became a limited partner in the group so that he would not lose his $20 million deposit. He did not disclose any information about his financial situation to the media. By October 2014, he was no longer a limited partner of the Minnesota Vikings.
In April 2022, Fowler pleaded guilty to bank fraud, bank fraud conspiracy, operation of an unlicensed money transmitting business, conspiracy to operate an unlicensed money transmitting business, and wire fraud.[9]
On Monday June 5, 2023 Fowler was sentenced in Manhattan federal court to six years and three months in prison and was ordered to forfeit $740 million and pay restitution of $53 million.
|
|
|
|