It is currently Fri Apr 25, 2014 1:30 am

All times are UTC - 4 hours [ DST ]





Post new topic Reply to topic  [ 6 posts ] 
Author Message
 Post subject: Falcons could(and likely will) go after signing bonus.
PostPosted: Mon Aug 20, 2007 5:03 pm 
Offline
Superstar
Superstar
User avatar

Joined: Thu Apr 06, 2006 8:27 pm
Posts: 1235
Location: Oklahoma City, OK
The Falcons will not release Vick immediately; rather, they will wait to see what Goodell does and what is in the statement of facts when Vick enters the plea on Monday, Falcons officials told ESPN's Sal Paolantonio. If the league suspends Vick, the Falcons could then go after Vick's signing bonus of approximately $22 million, because if suspended, then Vick would be in default of his contract.

http://sports.espn.go.com/nfl/news/story?id=2983121

_________________
Image


Last edited by SmorgasBorgnine on Mon Aug 20, 2007 5:07 pm, edited 1 time in total.

Top
 Profile E-mail  
 
 Post subject:
PostPosted: Mon Aug 20, 2007 5:06 pm 
Offline
2009 Mock Contest Winner
2009 Mock Contest Winner
User avatar

Joined: Fri Dec 31, 2004 6:16 am
Posts: 12231
Location: Aschaffenburg, Germany
Your byline says "WILL" go after the bonus. The Falcons said they "could" do so. Of course they could do so, but it doesn't mean they WILL. Big difference.

_________________


Show me a good loser, and I'll show you a loser.
Vince Lombardi

"None are so old as those who have outlived enthusiasm".
Henry David Thoreau

Fail to prepare and you prepare to fail.

"Luck is the residue of design." - Branch Rickey


Top
 Profile E-mail  
 
 Post subject:
PostPosted: Mon Aug 20, 2007 5:07 pm 
Offline
Superstar
Superstar
User avatar

Joined: Thu Apr 06, 2006 8:27 pm
Posts: 1235
Location: Oklahoma City, OK
I modified it, but honestly, how stupid would they have to be not to go after it?

_________________
Image


Top
 Profile E-mail  
 
 Post subject:
PostPosted: Mon Aug 20, 2007 5:19 pm 
Offline
2009 Mock Contest Winner
2009 Mock Contest Winner
User avatar

Joined: Fri Dec 31, 2004 6:16 am
Posts: 12231
Location: Aschaffenburg, Germany
Happ wrote:
I modified it, but honestly, how stupid would they have to be not to go after it?


It isn't really that they wouldn't want to go after it, but the legal issues surrounding it. Man Happ...i would love for them to go after it. But it is my understanding the way that Vick's contract is structured, and recently reconstructed twice, it makes it difficult to do so. In other words Vick delayed payments already due to him in order to give the Falcons more room under the cap.These delayed payments would be difficult to recoup. That's why Vick's salary was so low the past few years, as he traded a higher salary for signing bonuses.

_________________


Show me a good loser, and I'll show you a loser.
Vince Lombardi

"None are so old as those who have outlived enthusiasm".
Henry David Thoreau

Fail to prepare and you prepare to fail.

"Luck is the residue of design." - Branch Rickey


Top
 Profile E-mail  
 
 Post subject:
PostPosted: Tue Aug 21, 2007 1:59 am 
Offline
Purveyor of Truth & Justice
Purveyor of Truth & Justice
User avatar

Joined: Thu Dec 23, 2004 3:03 pm
Posts: 25580
Location: North Carolina
BB, again I don't know, but I'm not so sure. Because by Vick delaying those bonuses, they went from roster bonuses to signing bonuses, which may make it easier for the team to go after.

The basic rule exists that Option bonuses teams CANNOT recoup, but signing bonuses they CAN.

There is no official word on how roster bonuses are treated. It would not surprise me to see this issue go to arbitration.

The Falcons are going to get some money back, you can bet that. At the very least they'll get some of the initial $7.5 million signing bonus they paid him back in December '04. Whether they get any or most of the other $30 million in roster bonuses they paid is up in the air.


Top
 Profile E-mail  
 
 Post subject:
PostPosted: Tue Aug 21, 2007 6:47 am 
Offline
Cap Guru
Cap Guru
User avatar

Joined: Fri Jan 07, 2005 12:28 am
Posts: 2071
Location: Macon, GA
Building on what Pudge said, roster bonuses are looked at as option bonuses. However, this is where it gets hairy. His option bonuses were converted to signing bonuses and that may be enough to qualify the argument. Because of the amount of time Vick will miss (not to mention state of Virginia charges) and the fact he lied to the commissioner, it wouldn't shock me if that loophole was used...


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 6 posts ] 

All times are UTC - 4 hours [ DST ]


Who is online

Users browsing this forum: Google [Bot] and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Jump to: