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Jennings' contract question...
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<blockquote data-quote="TJV" data-source="post: 461465" data-attributes="member: 4300"><p><span style="font-family: 'Tahoma'"><span style="color: #000000">“Security”, as in “financial security” is the perfect descriptor IMO for wanting “guaranteed money in a profession where careers can end in a single play”. Why is desiring financial security in any situation “condescending”? Don’t we all strive to be financially secure? In contract law, “consideration” is “something of value given by <strong>both</strong> parties to a contract that induces them to enter into the agreement to exchange mutual performances.” So “security” in this context, modified or not, describes the money the players receive no matter what, while “consideration” includes the promises of both parties. </span></span></p><p> </p><p><span style="color: #000000"><span style="font-family: 'Tahoma'">Exchanging a discount for security has nothing to do with naïveté, it’s reality. Otherwise why wouldn’t players love playing for the franchise tag amount? Three consecutive seasons of doing so would be more money than any long-term deal after those three years, but the reason players hate it is because of the risk of injury. When looking at NFL contracts, the guaranteed money is the key because of the risk of injury and job security (someone beating the player out). When I look at NFL contracts I look at the guaranteed money and the annual salaries until the year in which waiving the player renders a lower cap number than keeping him. Except for a career-ending injury, I consider the guaranteed money plus those annual salaries as the security the player is receiving. The discussion of Hawk’s contract is an example. BTW, Jennings has been paid approximately $30M since being drafted by the Packers. Even if he kept a little more than one-half of that amount after taxes and pissed one-half of the balance away (unlikely), his net worth should be around $8M. Good for him BTW. Of course he deserves to get market value for his talents, just say’n.</span></span></p><p> </p><p><span style="color: #000000"><span style="font-family: 'Tahoma'">I too have no idea why anyone would bring up race in this discussion. </span></span></p></blockquote><p></p>
[QUOTE="TJV, post: 461465, member: 4300"] [FONT=Tahoma][COLOR=#000000]“Security”, as in “financial security” is the perfect descriptor IMO for wanting “guaranteed money in a profession where careers can end in a single play”. Why is desiring financial security in any situation “condescending”? Don’t we all strive to be financially secure? In contract law, “consideration” is “something of value given by [B]both[/B] parties to a contract that induces them to enter into the agreement to exchange mutual performances.” So “security” in this context, modified or not, describes the money the players receive no matter what, while “consideration” includes the promises of both parties. [/COLOR][/FONT] [COLOR=#000000][FONT=Tahoma]Exchanging a discount for security has nothing to do with naïveté, it’s reality. Otherwise why wouldn’t players love playing for the franchise tag amount? Three consecutive seasons of doing so would be more money than any long-term deal after those three years, but the reason players hate it is because of the risk of injury. When looking at NFL contracts, the guaranteed money is the key because of the risk of injury and job security (someone beating the player out). When I look at NFL contracts I look at the guaranteed money and the annual salaries until the year in which waiving the player renders a lower cap number than keeping him. Except for a career-ending injury, I consider the guaranteed money plus those annual salaries as the security the player is receiving. The discussion of Hawk’s contract is an example. BTW, Jennings has been paid approximately $30M since being drafted by the Packers. Even if he kept a little more than one-half of that amount after taxes and pissed one-half of the balance away (unlikely), his net worth should be around $8M. Good for him BTW. Of course he deserves to get market value for his talents, just say’n.[/FONT][/COLOR] [COLOR=#000000][FONT=Tahoma]I too have no idea why anyone would bring up race in this discussion. [/FONT][/COLOR] [/QUOTE]
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