Giants exercise buy-back of Manning's contract- see my note at the Bottom
BY ARTHUR STAPLE AND BOB GLAUBER
Giants fans have complained about the team's unwillingness to spend in the free agent market, but they've invested heavily in their own players.
They not only re-signed center Shaun O'Hara to a five-year, $19 million deal just hours before the free agency signing period began on March 2, but they also spent big money to make sure that Eli Manning remains their quarterback for the next three seasons at least.
The Giants exercised a "buy-back" of Manning's contract earlier this month, Newsday has learned, to keep Manning from becoming a free agent at the end of the 2007 season. Newsday incorrectly reported that Manning's contract had been extended through the 2012 season.
Manning is still under contract through 2009, but the buy-back was a costly one.
According to league sources familiar with Manning's contract, the Giants gave him a $5 million buy-back bonus, as well as a $3 million roster bonus. His base salary for the 2007 season will be $6.45 million. It increases to $8.45 million in 2008 and $8.95 million in 2009. The six-year, $54 million deal in July, 2004, but the deal would have voided after four seasons because Manning had achieved play-time incentives in his first season.
Giants sources last night confirmed that the move was made, and that the team had planned the transaction well in advance.
A team source said the money allocated to Manning has not been a factor in the team's reluctance to spend big on free agents. The source indicated that there were simply not enough quality players available in free agency worth pursuing, and that the huge contracts earned by some players was not in line with what the Giants believed their value to be.
And My slant: This is Gigantic(no pun meant!) for the Giants front office, as Eli would have been a Free Agent after this season. For all the crying fans are doing, for better or worse Manning is the Future of this offense, and they should make sure he's happy.
Showing posts with label Contract. Show all posts
Showing posts with label Contract. Show all posts
Tuesday, March 20, 2007
Wednesday, March 14, 2007
CB Nick Harper Jumps From Colts to Titans
Nick Harper Leaves Champs for Titans See my comments below
By Associated Press
NASHVILLE, Tenn. -- Nick Harper is going from the Super Bowl champion Colts to a division rival, the Tennessee Titans.
The free-agent cornerback agreed to a three-year deal with the Titans on Tuesday, agent Ian Greengross said.
"Nick was impressed with what he saw when the Colts played the Titans," Greengross said. "They played the Colts close the first time and beat the Colts the second time. He likes where they are heading."
The 5-foot-10 Harper spent the past six seasons with Indianapolis. The 32-year-old had three interceptions and 58 tackles last season as a starter.
He visited Tennessee last week and said the Titans were his top choice.
That could be in part because the future of cornerback Adam "Pacman" Jones' is in question after a series of off-field incidents. Titans coach Jeff Fisher recently expressed his displeasure with Jones for failing to inform the team of two arrests last year in Georgia. Jones also was interviewed by police after a triple shooting at a Las Vegas strip club on Feb. 19.
Harper has been the Colts' most consistent cover cornerback in the past few seasons.
So Harper Is taking the Money. I can understand that. The part i can't understand is how horrible a situation the Titans are in with Jones, and were they think Harper will "take over" for Jones. Even though we heard published reports last night that he was "obtained" for "Insurance' Purposes". Sure, and i have a Bridge to sell you that connects the Bronx to Long Island.
By Associated Press
NASHVILLE, Tenn. -- Nick Harper is going from the Super Bowl champion Colts to a division rival, the Tennessee Titans.
The free-agent cornerback agreed to a three-year deal with the Titans on Tuesday, agent Ian Greengross said.
"Nick was impressed with what he saw when the Colts played the Titans," Greengross said. "They played the Colts close the first time and beat the Colts the second time. He likes where they are heading."
The 5-foot-10 Harper spent the past six seasons with Indianapolis. The 32-year-old had three interceptions and 58 tackles last season as a starter.
He visited Tennessee last week and said the Titans were his top choice.
That could be in part because the future of cornerback Adam "Pacman" Jones' is in question after a series of off-field incidents. Titans coach Jeff Fisher recently expressed his displeasure with Jones for failing to inform the team of two arrests last year in Georgia. Jones also was interviewed by police after a triple shooting at a Las Vegas strip club on Feb. 19.
Harper has been the Colts' most consistent cover cornerback in the past few seasons.
So Harper Is taking the Money. I can understand that. The part i can't understand is how horrible a situation the Titans are in with Jones, and were they think Harper will "take over" for Jones. Even though we heard published reports last night that he was "obtained" for "Insurance' Purposes". Sure, and i have a Bridge to sell you that connects the Bronx to Long Island.
Thursday, March 01, 2007
After Months Of Delays Chicago Bears Give Lovie Smith 4-Year, 22-Million Contract
The very deserving Chicago Bears Head Coach Lovie Smith got a new 4-year, 22-million contract. More details below:
By The Associated Press
Mar 1, 2007 (AP)— The Chicago Bears decided Lovie Smith was the right coach to lead the team into the next decade with hopefully a few more Super Bowl appearances.
A week after Smith's agent said negotiations were so stalled the coach would probably leave after the 2007 season, the Bears signed Smith to a four-year contract extension through 2011 on Wednesday.
The lowest-paid coach in the NFL last season at $1.35 million when he led the Bears to the Super Bowl, Smith's deal will average about $4.7 million per season over five years. He'll make $22 million in new money and the total value of the five years is $23.45 million, the Chicago Tribune reported. Smith was scheduled to make $1.45 million this season in the final year of his initial four-year contract.
The deal was announced by the team Wednesday night, as was an extension through 2013 for general manager Jerry Angelo.
Smith, the 2005 NFL coach of the year, led the Bears to a 15-4 record and their first NFC championship in more than two decades last season before they lost 29-17 to Indianapolis in the Super Bowl.
By The Associated Press
Mar 1, 2007 (AP)— The Chicago Bears decided Lovie Smith was the right coach to lead the team into the next decade with hopefully a few more Super Bowl appearances.
A week after Smith's agent said negotiations were so stalled the coach would probably leave after the 2007 season, the Bears signed Smith to a four-year contract extension through 2011 on Wednesday.
The lowest-paid coach in the NFL last season at $1.35 million when he led the Bears to the Super Bowl, Smith's deal will average about $4.7 million per season over five years. He'll make $22 million in new money and the total value of the five years is $23.45 million, the Chicago Tribune reported. Smith was scheduled to make $1.45 million this season in the final year of his initial four-year contract.
The deal was announced by the team Wednesday night, as was an extension through 2013 for general manager Jerry Angelo.
Smith, the 2005 NFL coach of the year, led the Bears to a 15-4 record and their first NFC championship in more than two decades last season before they lost 29-17 to Indianapolis in the Super Bowl.
Friday, February 16, 2007
Chicago Bears Not Given Head Coach Lovie Smith New Contract; Team Upset - Profootballtalk.com
Profootballtalk.com reports on this terrible state of affairs.
MUTINY BREWING IN CHICAGO - Profootball talk.com
Keep a close eye on the situation in Chicago, where the Bears have still not given coach Lovie Smith a new contract, and where there is no evidence that significant discussions between the team and the Super Bowl coach aimed at extending the deal that expires after the 2007 have begun in earnest.
A source with knowledge of the situation tells us that some members of the team have agreed among themselves to refuse to do any contract extensions or restructurings until Smith gets rewarded for the team's performance on his watch.
And there's also an intention among some of the players to be candid with the free agents whom the Bears plan to target in March, with some current Bears players ready and willing to tell any new recruits not to count on Smith being around in 2008.
We think the team should move very quickly to lock Lovie up for the next four or five years, at $4 million or so per season. That's fair value for a guy who has one Super Bowl appearance and three years of total head-coaching experience.
The sticking point could be that the Bears hope Smith will have reduced expectations because the team lost in the Super Bowl. Then again, the guy who lost Super Bowl XL ended up with an extension that reportedly pays him $7.5 million to $8.5 million per year.
Smith would have had more leverage if he'd tried to do a new deal in the dead week before Super Bowl preparations, since there was a much better overall feeling in the air about the Bears and their coach before the team put on a so-so at best performance in the February 4 loss to the Colts. But Smith gambled that the Bears would win the Super Bowl, which might have put him in line for a deal worth more than $5 million per season.
MUTINY BREWING IN CHICAGO - Profootball talk.com
Keep a close eye on the situation in Chicago, where the Bears have still not given coach Lovie Smith a new contract, and where there is no evidence that significant discussions between the team and the Super Bowl coach aimed at extending the deal that expires after the 2007 have begun in earnest.
A source with knowledge of the situation tells us that some members of the team have agreed among themselves to refuse to do any contract extensions or restructurings until Smith gets rewarded for the team's performance on his watch.
And there's also an intention among some of the players to be candid with the free agents whom the Bears plan to target in March, with some current Bears players ready and willing to tell any new recruits not to count on Smith being around in 2008.
We think the team should move very quickly to lock Lovie up for the next four or five years, at $4 million or so per season. That's fair value for a guy who has one Super Bowl appearance and three years of total head-coaching experience.
The sticking point could be that the Bears hope Smith will have reduced expectations because the team lost in the Super Bowl. Then again, the guy who lost Super Bowl XL ended up with an extension that reportedly pays him $7.5 million to $8.5 million per year.
Smith would have had more leverage if he'd tried to do a new deal in the dead week before Super Bowl preparations, since there was a much better overall feeling in the air about the Bears and their coach before the team put on a so-so at best performance in the February 4 loss to the Colts. But Smith gambled that the Bears would win the Super Bowl, which might have put him in line for a deal worth more than $5 million per season.
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