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NFL's Rookie Pitch: Divert 300M From 1st Rounders - National News Story - WJXT Jacksonville
NEW YORK -- The NFL's proposal to the players for a rookie compensation system would divert about $300 million a year from first-round draft picks' contracts to veterans and player benefits.
More than $525 million went to first-rounders in guaranteed payments in 2010. So nearly half of that total would wind up as veterans' salary or benefits under the proposal, according to documents obtained by The Associated Press.
The league's offer would free more than $1.2 billion by 2016 and slow the growth rate of guaranteed payments to first-rounders, which the documents show increased by 233 percent since 2000. All contracts for first-round picks would become fixed at five years.
Such quarterback busts as JaMarcus Russell ($32 million), Matt Leinart ($12.9 million), David Carr ($15 million) and Joey Harrington ($13.9 million) received huge guaranteed payments that totaled $367 million in the last 10 drafts.
Of course, Eli Manning ($24 million), Philip Rivers ($17.9 million) and Matt Ryan ($34.7 million) have not done too badly for their teams.
Guaranteed money paid to top 10 selections since 2000 reached nearly $2 billion. Guaranteed payments for all first-rounders were at $3.5 billion.
Article continued in link.
NEW YORK -- The NFL's proposal to the players for a rookie compensation system would divert about $300 million a year from first-round draft picks' contracts to veterans and player benefits.
More than $525 million went to first-rounders in guaranteed payments in 2010. So nearly half of that total would wind up as veterans' salary or benefits under the proposal, according to documents obtained by The Associated Press.
The league's offer would free more than $1.2 billion by 2016 and slow the growth rate of guaranteed payments to first-rounders, which the documents show increased by 233 percent since 2000. All contracts for first-round picks would become fixed at five years.
Such quarterback busts as JaMarcus Russell ($32 million), Matt Leinart ($12.9 million), David Carr ($15 million) and Joey Harrington ($13.9 million) received huge guaranteed payments that totaled $367 million in the last 10 drafts.
Of course, Eli Manning ($24 million), Philip Rivers ($17.9 million) and Matt Ryan ($34.7 million) have not done too badly for their teams.
Guaranteed money paid to top 10 selections since 2000 reached nearly $2 billion. Guaranteed payments for all first-rounders were at $3.5 billion.
Article continued in link.