Zero2Cool
16 years ago

In the monumental trade of Brett Favre from the Packers to the Jets, there appears to be a twist in the contract that has not been previously reported.

The Jets admirably did not renegotiate Favres 12M salary this year to fit the contract under their Cap, resisting temptation to gain some short-term Cap relief in exchange for added Cap charges from this contract next year and the year after.

We have learned that the contract was renegotiated, however. The terms on the back side of the deal have been altered to the benefit of Favre.

When I negotiated this 10-year, 101M contract in 2001, it required, as all Packer contracts do, a number of appearances on behalf of the club, some workers compensation guidelines, and bonus recovery provisions in case of immoral behavior or retirement. Those clauses are standard boilerplate in the industry. Now in year eight of ten, that contract was assigned to the Jets in the recent trade.

The contract, however, no longer contains those terms. According to multiple sources, there is no backside to the existing contract between Favre and the Jets. Favres agent, Bus Cook, and the Jets have renegotiated the contract to consist of the identical financial terms from the Packers contract 12M this year, 13M next and 14M in 2010 and nothing more. The language concerning appearances for the club and recovery of bonus due to retirement is no longer part of the deal.

Favre, if willing, is free to make appearances on behalf of the Jets to promote the team as it starts to play in a new stadium next season, but he has no contractual obligation to do so. Favre can also retire from the Jets at any time and have no obligation to forfeit any of the bonus monies he has received (Tampa Bay recovered 3.5M from Jake Plummer after trading for a contract that required recovery upon retirement).

A renegotiation such as this could present a dangerous precedent for players who are traded and make certain non-economic demands, as well as for star players who want concessions outside of salary and bonus provisions.

However, it is understandable that Mike Tannenbaum and the Jets made some concessions to bring this iconic brand to their franchise. With Favres tepid interest in playing for the Jets an issue prior to the trade, the renegotiation of his marketing and bonus recovery rights made the trade more palatable to the Favre camp at the time.

Another nugget from the Favre-Packers-Jets biopic; more to come in weeks ahead.


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dfosterf (11m) : The white background beta was hard to read, especially the quotes
dfosterf (27m) : Hopefully the color scheme remains the same
dfosterf (34m) : *Friday*
dfosterf (37m) : 100 million would be 539 million as of Fridsy
dfosterf (37m) : Heck, they could have taken a hundred milliion and invested in DAVE inc. last year (semi random, humor, but real)
dfosterf (49m) : Beer brat and ticket is where the money comes from
dfosterf (56m) : The 40th is Titletown Tech itself. This is a pet project of both Ed Policy and Mark Murphy
Zero2Cool (57m) : New site coming along nicely. The editor is better than what we have here. Oh yeah!
dfosterf (58m) : No profit that I know of. 0 for 40
dfosterf (1h) : The woke reference has to do with the makeup and oftentimes objectives of the companies they invested in
packerfanoutwest (1h) : beer and brats woke? say whom?
beast (1h) : I don't want to get into politics, but how is, beers and brats considered to be "woke"? Food is food...
beast (1h) : That being said, I'm not saying all 100% should be that way, but not surprised if majority are Wisconsin based
beast (1h) : And if everyone has heard of them, then it it probably has less growth potential and less community based
beast (1h) : Well isn't the investing person supposed to invest the money?
dfosterf (1h) : I swear if I were to discover that one of them has invented a virtue signalling transmitter I will not be surprised, lol
dfosterf (1h) : 39 companies so far that I bet no one has ever heard of.
dfosterf (1h) : -Not saying woke, but should- borderline philanthopist venture capital excercise
dfosterf (1h) : Well for one, they are pouring resources into Title Town Tech. Investing beer, brat, hot dog, ticket money into what is pretty much...
beast (8h) : Wow, 95% drop in investment revenue? Would be interesting to hear the details of why...
dfosterf (25-Jul) : It's my one day deal complaint dept. on shareholder meeting day
dfosterf (25-Jul) : Probably a homer access credential intimidation kinda thing
dfosterf (25-Jul) : Meathead "journalists" skip this, concentrating on operational revenue when convenient. They switch when net revenue is more favorable.
dfosterf (25-Jul) : Resulting in an actual drop of net revenue of 12.5%. She is from Minnesota. Just sayin'
dfosterf (25-Jul) : Any plans to hold Maureen Smith (CFO) accountable for a 95% drop in investment revenue?
Mucky Tundra (25-Jul) : In your face, HBO!
Mucky Tundra (25-Jul) : @ByRyanWood Mark Murphy: “A great source of pride of mine is that we were never on Hard Knocks.”
Mucky Tundra (25-Jul) : *years
Mucky Tundra (25-Jul) : @mattschneidman Mark Murphy says he anticipates “many Packers games” being played in Germany, Ireland and/or the U.K. over the next 5-10 yea
dfosterf (25-Jul) : *cafeteria* I have hit my head also, so I sympathize
dfosterf (25-Jul) : Possibly hit his head leaning into the glass protecting the food in the cafateria
dfosterf (25-Jul) : Maybe a low flying drone
dfosterf (25-Jul) : Did Savion Williams run into a goalpost or something?
Mucky Tundra (25-Jul) : also, no bueno when a guy starts getting concussions right off the bat in his career
Zero2Cool (25-Jul) : Concussion is worse. Banks probably vet off day via back booboo claim
Mucky Tundra (25-Jul) : @AndyHermanNFL Jordy Nelson out at camp today. No word if he’s in play for one of the two open roster spots ; )
dfosterf (25-Jul) : Is that better or worse than Banks bad back?
Zero2Cool (25-Jul) : Savion concussion ... not good.
packerfanoutwest (24-Jul) : Aaron Rodgers’s first pass of first team period was picked off
Mucky Tundra (24-Jul) : tbh I didn't hear of his passing
Zero2Cool (24-Jul) : Cosby Show. Malcom Jamal Warner I think is real name
Mucky Tundra (24-Jul) : I was thinking of Ozzy and Hulk
Mucky Tundra (24-Jul) : Who's Theo?
Zero2Cool (24-Jul) : How is Theo alliteration?
Mucky Tundra (24-Jul) : Bad week for people whose names are alliterations
Zero2Cool (24-Jul) : Hulk Hogan gone too.
Zero2Cool (24-Jul) : Oh, it's toe injury
Zero2Cool (24-Jul) : Hope it's not serious. that would stink
dfosterf (24-Jul) : Sounds like an ankle not a knee for Fields
dfosterf (24-Jul) : Ya Flaccp on Browns
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