Tuesday, March 19, 2013

Elvis Dumervil Loses Out

After a rather strange scenario, Elvis Dumervil was cut by the Denver Broncos. Dumervil was set to make $12 million for the 2013 season. After the Broncos negotiated with Dumervil, they decided that his base salary for the 2013 season would be cut to $8 million in an effort to save the team cap room.

Both sides agreed to the new contract and all that was left was the finalization. This is when things got weird.

In order for the new contract to be valid, Dumervil a his agent had to submit the paperwork by Friday at 4 PM eastern time. If the paperwork was not submitted in time, the original contact would be valid. After some confusion, Dumervil was scrambling to get the contract in on time. Reportedly Dumervil was in Miami searching for a Kinko's to fax the contract.  

The contract did not get in on time by the deadline and the Broncos were forced to cut Dumervil. If the Broncos had not cut Dumervil, they would have been forced to pay him the original $12 million base salary that would have hit the Broncos salary cap for $13.6 million.

As a result of the mixup, Dumervil fired his agent, Marty Magid. Marty made it clear that not everyone knew of all the details that went into the contract negotiation. He said about his firing, "I know the people in Denver think I should be fired, but like I said, there were a lot of reasons for why it happened." After the incident, Marty recieved hundreds of angry emails from Denver Broncos fans wondering what happened. 

Final Thought
I dont care what other reasons there were to not having the contract sent it on time. This is terrible. An agent is responsible for making sure his client gets the most value he can. The Broncos offered Dumervil fair compensation and everyone seemed to agree. Marty failed as an agent in this situation because something as serious as a new contract should be taken care of before the last minute deadline. Marty needed to make sure the contract got signed and faxed in. This potential financial loss for Dumervil is enough reason for Dumervil to fire his agent. 

No comments:

Post a Comment