Revis’ rookie deal was structured in a way that practically made it a four-year deal with the Jets having the ability to buy years five and six at a price tag of $15.7 million guaranteed. Due to Revis reaching a playtime threshold of his rookie deal, he will be eligible to pay back the $1.3 million that was advanced to him and void the fifth and sixth years of his contract starting the day after the 2010 Super Bowl. The Jets reserve the right to buy back those years by paying a $100 buyback bonus and guaranteeing Revis’ 2011 and 2012 salaries at $15.7 million, with another $4 million of possible salary escalation in 2012 based on Revis’ performance. Another interesting aspect of this structure is that, in the event of Revis voiding the final two years, the Jets are prevented from franchising Revis instead of buying back 2011 and 2012.
So that means the Jets have a distinct interest in signing you long term.
But at the same time if you were to opt out you would be a restricted FA.
The Jets are going to buy back 2011 and 2012 regardless of what has happened recently. But the Money isnt guaranteed and if you dont report today you wont accrue your year of service.
Wouldnt you be better served playing out the season. Having the season be accrued toward your free agency track
From :
http://www.jetsinsider.co...showthread.php?p=3674634
Revis Holdout/Contract FAQ
Mods, if you want to merge, go ahead, but since I've been seeing the same questions coming up over and over again in the monster Revis thread, I thought there might be some utility to having this as a separate thread (maybe even stickied).
Q: What is Revis' current (as of 8/9) contract situation?
A: When Revis signed his deal in 2007, it was a 6 year deal that, based on performance metrics Revis has already hit, became voidable after 2010 if Revis chose to pay the Jets a buyback. That means that Revis' contract, as it currently stands, can be described 2 different ways.
1) The deal if Revis does not exercise his buyback. If Revis chooses not to exercise the buyback, he is under contract to the Jets for 2010, 2011 at $800,000 ($650,000 salary plus a miscellaneous bonus of $150,000), and for 2012 at $815,000 ($665,000 salary plus a miscellaneous bonus of $150,000) - all numbers taken from NYJetscap.com.
2) The deal if Revis does exercise his buyback. If Revis exercises his buyback, he will become a Free Agent after the 2010 season. The Jets then can (but don't have to) pick up an option on Revis' 2011 and 2012 seasons. His salary in 2011 would be ~5M. His salary in 2012 could be 9M, 11M, or 15M, depending on certain incentives.
Because he did not report to training camp on time, the 2011 and 2012 salaries are not guaranteed - meaning the Jets can pick up the option for both years and then cut him after 2011, at which point Revis would not get paid his 2012 salary from the Jets.
Either way, the Jets (in theory) control Revis' rights through 2012; the only question is at what cost. If Revis exercises his buyback, the Jets cannot Franchise him.
Q: OK, that's as of August 9. What happens if he doesn't report August 10?
A: If Revis doesn't report August 10, then he will not gain a year of "service time" for the 2010 season, no matter how many games he plays.
Q: So what?
A: Under the CBA, "service time" determines what happens when you hit Free Agency. Under the rules, players with 3 years of service time are Restricted Free Agents.
Since Revis has only played 3 years, then if he does not report on August 10 and buys out his contract at the end of the year, he will become a restricted free agent, not an unrestricted free agent.
Q: How does that impact his contract?
A: If Revis is a restricted free agent, the Jets will be able to retain his rights in 2011 without exercising the buy back, simply by making him a tender offer (they'd tender him at the 1st and 3rd round pick level). They could then let the market set Revis' contract price, and either match (if they found it reasonable) or let him walk for the compensation. If Revis signed a one-year deal with the team for 2011, they could franchise tag him in 2012.
If Revis reports August 10, the only way they'll be able to retain his rights is by exercising the buyback.
Q: Can Revis sue?
A: No. He is under contract. Even if Tannenbaum came up to him after the Colts game and promised him to pay him 20M per season for 10 years, that would not be a legally enforceable promise; to be legally enforceable, the Jets would have had to have received something from Revis in exchange. It cannot happen, and he'd probably have to pick up the tab for the Jets legal fees if he tried.
Q: Can the NFLPA do anything to pressure the Jets to pay or release Revis?
A: No. He's under contract.
Q: Anything else I should know?
A: Yes. Revis is racking up fines of $16,000/day for each day of the holdout. If he holds out all season (Aug 2-Jan 2) that would be 154 days, meaning he would owe the Jets roughly $2.5 million.
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Revis Holdout/Contract FAQ
Mods, if you want to merge, go ahead, but since I've been seeing the same questions coming up over and over again in the monster Revis thread, I thought there might be some utility to having this as a separate thread (maybe even stickied).
Q: What is Revis' current (as of 8/9) contract situation?
A: When Revis signed his deal in 2007, it was a 6 year deal that, based on performance metrics Revis has already hit, became voidable after 2010 if Revis chose to pay the Jets a buyback. That means that Revis' contract, as it currently stands, can be described 2 different ways.
1) The deal if Revis does not exercise his buyback. If Revis chooses not to exercise the buyback, he is under contract to the Jets for 2010, 2011 at $800,000 ($650,000 salary plus a miscellaneous bonus of $150,000), and for 2012 at $815,000 ($665,000 salary plus a miscellaneous bonus of $150,000) - all numbers taken from NYJetscap.com.
2) The deal if Revis does exercise his buyback. If Revis exercises his buyback, he will become a Free Agent after the 2010 season. The Jets then can (but don't have to) pick up an option on Revis' 2011 and 2012 seasons. His salary in 2011 would be ~5M. His salary in 2012 could be 9M, 11M, or 15M, depending on certain incentives.
Because he did not report to training camp on time, the 2011 and 2012 salaries are not guaranteed - meaning the Jets can pick up the option for both years and then cut him after 2011, at which point Revis would not get paid his 2012 salary from the Jets.
Either way, the Jets (in theory) control Revis' rights through 2012; the only question is at what cost. If Revis exercises his buyback, the Jets cannot Franchise him.
Q: OK, that's as of August 9. What happens if he doesn't report August 10?
A: If Revis doesn't report August 10, then he will not gain a year of "service time" for the 2010 season, no matter how many games he plays.
Q: So what?
A: Under the CBA, "service time" determines what happens when you hit Free Agency. Under the rules, players with 3 years of service time are Restricted Free Agents.
Since Revis has only played 3 years, then if he does not report on August 10 and buys out his contract at the end of the year, he will become a restricted free agent, not an unrestricted free agent.
Q: How does that impact his contract?
A: If Revis is a restricted free agent, the Jets will be able to retain his rights in 2011 without exercising the buy back, simply by making him a tender offer (they'd tender him at the 1st and 3rd round pick level). They could then let the market set Revis' contract price, and either match (if they found it reasonable) or let him walk for the compensation. If Revis signed a one-year deal with the team for 2011, they could franchise tag him in 2012.
If Revis reports August 10, the only way they'll be able to retain his rights is by exercising the buyback.
Q: Can Revis sue?
A: No. He is under contract. Even if Tannenbaum came up to him after the Colts game and promised him to pay him 20M per season for 10 years, that would not be a legally enforceable promise; to be legally enforceable, the Jets would have had to have received something from Revis in exchange. It cannot happen, and he'd probably have to pick up the tab for the Jets legal fees if he tried.
Q: Can the NFLPA do anything to pressure the Jets to pay or release Revis?
A: No. He's under contract.
Q: Anything else I should know?
A: Yes. Revis is racking up fines of $16,000/day for each day of the holdout. If he holds out all season (Aug 2-Jan 2) that would be 154 days, meaning he would owe the Jets roughly $2.5 million.
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Because he did not report to training camp on time, the 2011 and 2012 salaries are not guaranteed - meaning the Jets can pick up the option for both years and then cut him after 2011, at which point Revis would not get paid his 2012 salary from the Jets.
Ok so its clear your real issue as you progress through your career is not being compensated well if you become damaged goods.
But if you don't get UFA status you arent getting paid what you think you might deserve.
Plus if you reported you could have gotten more money for this season/ Possibly got Woody Johnson to guarantee all your bonuses for the years after the buy back, eliminated the cost of the buyback for you so that you kept your 1.3 million and moved
on.
