It appears we have finally found the biggest stumbling block in the negotiations, Ladies and Gentlemen. According to Gary Myers of the Daily News, both the Jets and Camp Revis have 10 year deals on the table however the total compensation is about $40 million apart. Myers breaks it down after the jump.
The Daily News has learned the Jets have had a 10-year, $120 million offer on the table for months as one of their two proposals. Although the Jets continue to insist “we are flexible on how the guaranteed money is structured, including the areas of signing bonus, roster bonus and option bonus,” they have not yet attached a specific dollar figure to any of those areas.
The Jets say they need to agree to the total compensation before negotiating the guarantees. It’s hard to argue with a $120 million deal that contains sufficient guaranteed money, which would be about $25 million-$30 million.
Revis has been looking to surpass Oakland‘s Nnamdi Asomugha as the highest-paid cornerback. Over the next two seasons, Asomugha will average $16.5 million. So do the math on a 10-year deal. That brings the number Revis wants in the $160 million range. Guaranteed money? Probably about $30 million.
“The proposal I gave to the Jets on Friday reflected the fact Darrelle Revis wants to be a Jet for life,” agent Neil Schwartz said Tuesday.
For life? How about a couple of lifetimes?
Of course, the numbers on long-term deals inflate the total dollars to unrealistic totals, which the player will often not see at the back end of his career. In either offer, Revis would own the largest contract in the NFL – until Peyton Manning, Tom Brady and Drew Brees sign new deals. But the key, of course, is how much of that money is guaranteed to find its way into Revis’ pockets?
“The Jets have never given us a proposal with one dollar in signing bonus or one dollar in fully guaranteed money,” Schwartz said. “I don’t care what they say.”
The Jets say when they agree on total dollars, they will talk guarantees.
One other thing: The so-called Band-Aid proposal – wonder if those are Johnson & Johnson Band-Aids? – the Jets made two days before camp opened on Aug. 1 is a four-year deal for $40 million. Again, the Jets have not yet attached a figure next to the guarantee column.
Initially in the proposal, the $1 million Revis is scheduled to make this year would be bumped to about $4 million. If Revis had not been holding out and played out the last three years of his contract, it would total $21 million with $20 million of it guaranteed. If the Jets then franchised him, he would make about $18 million in 2013. That would bring the four-year total to $39 million with $38 million guaranteed. The Band-Aid is $40 million with the guarantees yet to be decided.
Breaking down all this information, it is obvious that it was never about guarantees (for the moment anyway) instead it is about Revis milking it for all that its worth. And while Schwartz did not lie about the Jets refusing to provide guarantees and signing bonus’ he forgot to mention that total compensation had to be agreed upon first.
The fact of the matter is that either contract will give Revis the biggest contract in the NFL nevermind at the cornerback position so I ask how is it possible that both sides cannot find some common ground?
Cap tip to Brenden for the heads up!