SoFlaJets Posted August 10, 2010 Share Posted August 10, 2010 A Potential Wrinkle in the Revis Holdout Just a small update on the Darrelle Revis holdout. Almost anyone following the situation knows that an important date in the Revis holdout is August 10th. Its been talked about on various Jets websites , including by our buddies over at The Jets Blog , as well as a few national media sources. In case you were unaware the reason the date is important is because of a rule in the CBA that states For the purposes of calculating Accrued Seasons under this Agreement , for any League Year beginning with the 1993 League Year , a player shall not receive an Accrued Season for any League Year in which the player is under contract to a Club and in which he failed to report to such Club at least thirty (30) days prior to the first regular season game of that season. Under the standard CBA agreement a free agent requires four accrued seasons of service to become an unrestricted free agent. Revis currently has three. Most have disregarded the date because Revis is under contract for the next three years and odds are five years of service , which is what he would have at the end of 2012, is going to be enough to reach unrestricted free agency at the end of his contract. However , we have to realize that the Revis contract is unique. Revis' contract has a unique feature in which he can buyout the last two seasons of his contract , worth about 1.3 million dollars , which the Jets can then buyback for around 15 million dollars , a number that can rise to 20 million based on Revis' on field performance. But most people are failing to take into account the actual mechanism by which Revis' contract operates. Darrelle does not simply tell the Jets that he is going to buyout his deal and they simply buy it back. Revis will actually void his contract when he exercises the buyback. The day he buys out the deal he becomes a free agent. His agents negotiated a clause into the deal to not allow the Jets to designate him a franchise player in lieu of buying back the contract for a guaranteed 20 million dollars , so we know for a fact that Revis is a free agent when he buys the deal out. This is what seems to make the August 10th deadline potentially so important. If Revis loses a year of service he will only have three years of service under his belt. Rather than being an unrestricted free agent he will be a restricted free agent under terms of the CBA. As a restricted free agent the Jets hold tremendous leverage on Revis as they would no longer be under obligation to buyback those years at the high price tag. Instead they could tender Revis at a cost significantly lower than his buyback salary and then begin to use the franchise tag thereafter to keep him property of the team. That would be a significant loss of earnings for Revis if such a situation were to occur. Again this is nothing new if you are following the team around the internet as the subject has been discussed many times. So that seems to make August 10th a huge date for the team. But reality is often different than it seems. We are all forgetting that a new set of rules are in place in 2010 because 2010 is an uncapped season. In an uncapped year the required time for unrestricted free agency jumps from four years of service to six years of service. All signs at this point in the labor negotiations basically point to both sides playing the year out without a new CBA in place and then seeing who blinks first in March. Here is why this affects Revis and makes the August 10th date likely meaningless. It also adds a new dimension to his holdout from the team. Revis' contract will void the week following the Super Bowl , which is part of the 2010 League Year. Its more or less that limbo period in football during the month of February where not much goes on besides a few cuts and its so far beyond the end of the regular season that most believe its a new year. But on the NFL calender it is not. The 2011 League Year does not begin until March and teams do not begin workouts until mid-March. That mid-March date is likely the first date by which the NFL and the NFL Players Union will hammer out a deal in order to preserve all aspects of the offseason as a loss of three weeks of free agency is not enough of an impediment to either side as players an easily be integrated into the system and get their money whether they are signed March 5th or March 20th. The next important date would be the NFL draft in April. Regardless of what the sides consider the make or break date , its fair to say that it is after March. Even if a new agreement were to occur before then it's likely it would not take affect until March so as to not hamper the salary cap for the 2010 NFL season as some teams will come in below negotiated minimums and others will be far higher than allowable limits. And all of this leaves a superstar cornerback in limbo. When Revis voids his contract in February all signs point to the fact that he is going to be a restricted free agent whether he sits out all of training camp or all of the NFL football season. Three years or four years of service makes no difference in a year where you need six seasons to become an unrestricted free agent. This also sheds new light on a potential reason why Revis is holding out right now and willing to give up 20 million guaranteed by doing so. Revis was likely not playing in 2010 for 20 million dollars. He was likely playing for a 3 million dollar or so qualifying offer from the Jets in 2011 and a 9 million dollar franchise tag in 2012. Sure he could hope the Jets would exercise the buyback , but that would be putting faith in an organization and there is almost no trust between the players and teams right now. Is it possible that Revis is protected from being tendered? It is possible , but highly unlikely. When Revis signed his original contract in 2007 there was labor harmony and no person anticipated that an uncapped season would occur that changed the limits for unrestricted free agency. Considering no players escaped restricted free agency with the new rules in place in 2010 it is hard to imagine that Revis' agents would have negotiated that type of protection into the contract. All in all the uncapped year may have added a new reason as to why Revis is now staging this holdout and why it may go on longer than any of us thought. And as always you can receive updates Via twiter @nyjetscap http://www.nyjetscap.com/revisholdout.php Link to comment Share on other sites More sharing options...
SoFlaJets Posted August 10, 2010 Author Share Posted August 10, 2010 I need somebody who is smarter than me (and who doesn't have ADD) to explain this in simpler terms for me. Spermy is always good at deciphering Jason stuff Link to comment Share on other sites More sharing options...
RutgersJetFan Posted August 10, 2010 Share Posted August 10, 2010 The part I'm lost on is why the Jets can't buy back the contract if he voids it anymore. I understand it's not guaranteed because of the holdout, but why don't the Jets at least have the option now? Link to comment Share on other sites More sharing options...
NIGHT STALKER Posted August 10, 2010 Share Posted August 10, 2010 I am so dizzy from reading all this sh*t. That's all I got... Link to comment Share on other sites More sharing options...
lamont_jordan_rules Posted August 10, 2010 Share Posted August 10, 2010 ... brain not smart enough ... ... luckily, mikey t's is! ... l_j_r Link to comment Share on other sites More sharing options...
THE ILK Posted August 10, 2010 Share Posted August 10, 2010 The part I'm lost on is why the Jets can't buy back the contract if he voids it anymore. I understand it's not guaranteed because of the holdout, but why don't the Jets at least have the option now? Even if they can't buy back the contract anymore, they still hold his rights for the next 4 years if he holds out all of today. So regardless it's the same thing no? Either he gets a new deal, they trade him, or they sit on him. I'm not sure how much changes if that's true anyway. Link to comment Share on other sites More sharing options...
SoFlaJets Posted August 10, 2010 Author Share Posted August 10, 2010 ... brain not smart enough ... ... luckily, mikey t's is! ... l_j_r yea ljr-me neither Link to comment Share on other sites More sharing options...
GandWFan Posted August 10, 2010 Share Posted August 10, 2010 The part I'm lost on is why the Jets can't buy back the contract if he voids it anymore. I understand it's not guaranteed because of the holdout, but why don't the Jets at least have the option now? As I read it, they can do the buyback, but why should they? Since this is an uncapped year, you can't get to free aganecy until 6 years of service, not the 4 years it was when they negotiated the original contract. So Revis is a RFA, if he reports by Aug 10, and he is still a RFA if he reports after Aug 10. the Aug 10 date has no teeth since this is an uncapped year. Link to comment Share on other sites More sharing options...
Bleedin Green Posted August 10, 2010 Share Posted August 10, 2010 The part I'm lost on is why the Jets can't buy back the contract if he voids it anymore. I understand it's not guaranteed because of the holdout, but why don't the Jets at least have the option now? They can still exercise the buyback, the theory is just they would have no incentive to do so under the current labor conditions. Reason being, Revis would be an RFA come the end of this season and outside of the risk of someone signing him away, once Revis voids the end of the contract the Jets could just as easily pay Revis the RFA tender amount, which would be less than the $5 million he would get if they exercised his buyback. After that year, the Jets would then have to franchise him if he didn't sign a new deal by then, but even in that case the cost of the franchise tag for CBs is still likely to be significantly less than the $15 million he would be due if the Jets exercised the buyback. It's not a matter of them not being able to buyback, it's more a matter of not having any incentive, outside of the risk of losing him for a 1st and 3rd after this season (which would probably be a very realistic risk). Link to comment Share on other sites More sharing options...
RutgersJetFan Posted August 10, 2010 Share Posted August 10, 2010 As I read it, they can do the buyback, but why should they? Because it's a dick move and it would be hilarious? Link to comment Share on other sites More sharing options...
GandWFan Posted August 10, 2010 Share Posted August 10, 2010 They can still exercise the buyback, the theory is just they would have no incentive to do so under the current labor conditions. Reason being, Revis would be an RFA come the end of this season and outside of the risk of someone signing him away, once Revis voids the end of the contract the Jets could just as easily pay Revis the RFA tender amount, which would be less than the $5 million he would get if they exercised his buyback. After that year, the Jets would then have to franchise him if he didn't sign a new deal by then, but even in that case the cost of the franchise tag for CBs is still likely to be significantly less than the $15 million he would be due if the Jets exercised the buyback. It's not a matter of them not being able to buyback, it's more a matter of not having any incentive, outside of the risk of losing him for a 1st and 3rd after this season (which would probably be a very realistic risk). It is a risk, but at that point they could just match the offer, no? The Jets still have the upper hand. I doubt any team is going to pay him 16M over a long term deal, so it is win-win for us. Let Mevis negotiate with some limited subset of teams that need a corner and are willing to kill their draft, and will probably pay around the 12M range, then we just match the offer. Link to comment Share on other sites More sharing options...
GandWFan Posted August 10, 2010 Share Posted August 10, 2010 Because it's a dick move and it would be hilarious? Actually, it would screw Mevis more to tender him high and pay him 3M in 2011 and 9M in 2012. Pay him 12M over 2 years instead of 20M. Now that is hilarious! Link to comment Share on other sites More sharing options...
Dude Love Posted August 10, 2010 Share Posted August 10, 2010 The only thing I could discern out of that was basically Revis is pulling this crap now because it coincides with the NFLPA's contract expiring after this season, and that this season has no salary cap. I don't think the guy is smart enough to have figured all this stuff out on his own, and this plan has been in the can for at least a year--- Revis knew he was going to do this. My only other thought is- Why is he the only one? Why are there no other NFL players doing this? Link to comment Share on other sites More sharing options...
JohnnyHector Posted August 10, 2010 Share Posted August 10, 2010 Why is he the only one? Why are there no other NFL players doing this? He's got one of the most unique contracts in the league... don't know that any other player is in a remotely similar situation. The expectation was, at least to us outsiders, that if Revis turned out to be a Pro Bowl caliber player, the Jets would exercise the buyout and pay him $20 million in the last two years of his rookie deal. Who knows if the Jets or Revis's camp (or both) had though of this scenario when the deal was originally signed. Link to comment Share on other sites More sharing options...
ZachEY Posted August 10, 2010 Share Posted August 10, 2010 It is a risk, but at that point they could just match the offer, no? The Jets still have the upper hand. I doubt any team is going to pay him 16M over a long term deal, so it is win-win for us. Let Mevis negotiate with some limited subset of teams that need a corner and are willing to kill their draft, and will probably pay around the 12M range, then we just match the offer. Someone will make an offer, and probably with one of those poison pill contracts. So, if I'm reading this correctly, the obvious move is that Revis sits this year, and then we get a 1st and a 3rd for him next year. Link to comment Share on other sites More sharing options...
Sperm Edwards Posted August 10, 2010 Share Posted August 10, 2010 What makes matters worse for Revis is that by the time he's eligible to be franchise tagged in 2012, Aso's contract with Oakland will have already expired, thereby removing one bloated $15-16M CB salary from the top-5 average. Same with Champ Bailey's deal with Denver. Samuel in Philly will be at $8.4M, Robinson $6M, and Clements $9M. This is just pure salary, but it also doesn't take into account the possibility of any of them getting dropped if their production decreases. While there will surely be some other new contracts signed between now and then, it's possible the franchise tag will be less than $9M. Link to comment Share on other sites More sharing options...
war ensemble Posted August 10, 2010 Share Posted August 10, 2010 Someone will make an offer, and probably with one of those poison pill contracts. So, if I'm reading this correctly, the obvious move is that Revis sits this year, and then we get a 1st and a 3rd for him next year. I thought they got rid of those poison pill contracts? Link to comment Share on other sites More sharing options...
Dude Love Posted August 10, 2010 Share Posted August 10, 2010 He's got one of the most unique contracts in the league... don't know that any other player is in a remotely similar situation. The expectation was, at least to us outsiders, that if Revis turned out to be a Pro Bowl caliber player, the Jets would exercise the buyout and pay him $20 million in the last two years of his rookie deal. Who knows if the Jets or Revis's camp (or both) had though of this scenario when the deal was originally signed. Thank you. Link to comment Share on other sites More sharing options...
ZachEY Posted August 10, 2010 Share Posted August 10, 2010 I thought they got rid of those poison pill contracts? I don't think so. I think they're just frowned upon. Link to comment Share on other sites More sharing options...
neckdemon Posted August 10, 2010 Share Posted August 10, 2010 I need somebody who is smarter than me (and who doesn't have ADD) to explain this in simpler terms for me. Spermy is always good at deciphering Jason stuff what he's saying is that the august 10th date and the fact that revis won't have an accrued season, as it relates to the free agency rules, won't matter at this point because the league is under the uncapped rules which state that revis wouldn't have been an unrestricted free agent anyway. so this in turn affects his contract because there is likely no protection language in it in regards to this situation. so the fact is that revis' camp might be seeing it is that 20 million guarantee that he's lost wasn't going to be guaranteed anyway. since revis wold have voided his contract at the end of the year and the jets held the option to buy it back with the guarannteed money. but since revis won't be an unrestricted free agent at the end of the year, they might see it as there is no reason for the jets to buy it back when they could just tender him an offer and/or franchise him. with the buyback there was language that protected him from being franchised.....but, being that he wouldn't have been an unrestriced free agent the buyback doesn't have to occur for the jets to retain his rights...and therefore they cold franchise him or tender him and still retain his rights. so he is giving this as another reason for the revis holdout....and also as a reason for revis to have not been concerned with losing the guaranteed money because due to the uncapped rules of free agency there might have not been a buyback at all. Link to comment Share on other sites More sharing options...
Doggin94it Posted August 10, 2010 Share Posted August 10, 2010 The part I'm lost on is why the Jets can't buy back the contract if he voids it anymore. I understand it's not guaranteed because of the holdout, but why don't the Jets at least have the option now? They do. They just have no reason to exercise the buyback, since as a RFA they control his rights without needing to agree to a 15M salary in 2012. Link to comment Share on other sites More sharing options...
flgreen Posted August 10, 2010 Share Posted August 10, 2010 I don't think so. I think they're just frowned upon. They are heavily frowned upon. None have been signed is several years. Whereas they are technically legal don’t expect to see one in the near future Link to comment Share on other sites More sharing options...
RutgersJetFan Posted August 10, 2010 Share Posted August 10, 2010 They do. They just have no reason to exercise the buyback, since as a RFA they control his rights without needing to agree to a 15M salary in 2012. Yeah I think I misread the article, for some reason I interpreted it to mean that once Revis voids the contract, the buyback isn't possible due to all of the other crap. I need coffee. Link to comment Share on other sites More sharing options...
ZachEY Posted August 10, 2010 Share Posted August 10, 2010 They are heavily frowned upon. None have been signed is several years. Whereas they are technically legal don’t expect to see one in the near future Frowned upon doesn't mean they wont do it. I expect as a RFA, Revis will be signed away. Link to comment Share on other sites More sharing options...
flgreen Posted August 10, 2010 Share Posted August 10, 2010 Frowned upon doesn't mean they wont do it. I expect as a RFA, Revis will be signed away. Not at 16+ million he won't Link to comment Share on other sites More sharing options...
SoFlaJets Posted August 10, 2010 Author Share Posted August 10, 2010 what he's saying is that the august 10th date and the fact that revis won't have an accrued season, as it relates to the free agency rules, won't matter at this point because the league is under the uncapped rules which state that revis wouldn't have been an unrestricted free agent anyway. so this in turn affects his contract because there is likely no protection language in it in regards to this situation. so the fact is that revis' camp might be seeing it is that 20 million guarantee that he's lost wasn't going to be guaranteed anyway. since revis wold have voided his contract at the end of the year and the jets held the option to buy it back with the guarannteed money. but since revis won't be an unrestricted free agent at the end of the year, they might see it as there is no reason for the jets to buy it back when they could just tender him an offer and/or franchise him. with the buyback there was language that protected him from being franchised.....but, being that he wouldn't have been an unrestriced free agent the buyback doesn't have to occur for the jets to retain his rights...and therefore they cold franchise him or tender him and still retain his rights. so he is giving this as another reason for the revis holdout....and also as a reason for revis to have not been concerned with losing the guaranteed money because due to the uncapped rules of free agency there might have not been a buyback at all. thanks neck dee Link to comment Share on other sites More sharing options...
Bruce Banner Posted August 10, 2010 Share Posted August 10, 2010 The part I'm lost on is why the Jets can't buy back the contract if he voids it anymore. I understand it's not guaranteed because of the holdout, but why don't the Jets at least have the option now? They can still buy it back for $20M for the last two years. The OP is saying that they could pay him less for the those two years if they made him a RFA for one year and franchized him for the second. So in theory the Revis holdout is motivated by avoiding a salary cut due to the Jets following that strategy. The problem I have with this scenario is that other teams would surely pay the draft pick compensation for even the highest level of RFA. I think thats a first rounder and a third rounder. At the very least teams expecting to draft late in the first round would rush to make the offer. Link to comment Share on other sites More sharing options...
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