Posts Tagged ‘Restructured Contract’

Maxwell Jacob Friedman has landed himself a big-money contract renewal with All Elite Wrestling.

The 26-year-old, who returned to the Tony Khan-helmed promotion at All Out 2022 (4 September), has claimed that he is now earning “a stupid, absurd amount of money” per his new terms. As a result, MJF now believes that the bell is in his court when it comes to his wrestling future.

MJF made these comments during an appearance The MMA Hour with Ariel Helwani. An interesting move, given that it was an unapproved appearance on this very show that accelerated the disintegration of the AEW/MJF relationship in the first place, leading, ultimately, to him taking three months off between June and September.

Said Friedman of his previous MMA Hour appearance (h/t Figure Four Online/The Wrestling Observer):

“Did PR get a little upset that I didn’t clear it with them? Yes. Does PR now have absolutely no choice but to just salivate at the fact that MJF is leaving his house to do an interview in regards to Arthur Ashe? Yes, because things have changed a little bit… The ball’s in my court, pal, that’s what’s changed. What does that mean? Let’s talk now. I’m one of the biggest ratings, not just in AEW but in all of professional wrestling minute for minute. If you don’t believe me, hit up Brandon Thurston, he’s a great guy, puts up a lot of great information.”

MJF has continued referring to “the great bidding war of 2024” since returning to AEW, suggesting that his contract, which was originally reported to expire in January 2024, has not been extended despite the new terms. On this subject, MJF claimed that money remains his ultimate motivator:

“I go where the money is at, whoever is going to offer me the most amount of money is where I’m gong to go, that could be anywhere. Hell, if there’s some financial backer out there that wants to start his own wrestling company and use me as the figurehead, that’s where I’ll go. It’s that simple, that’s all I care about is money.”

Friedman then refused to confirm or deny if a plane ticket out of Las Vegas, Nevada had been bought in his name during Double Or Nothing weekend, which was a hot-button topic in May. That’s when he dropped the “stupid, absurd amount of money” quote:

“I cannot confirm or deny there being a plane ticket. What I will say is this, I’m a businessman, I do what I have to do in order to ensure that what I need gets done. It got done, I’m back, I’m making a stupid, absurd amount of money now and I didn’t have to sign a contract extension.”

MJF won AEW’s latest Casino Ladder Match at All Out, banking himself a future World Championship shot. 

Quarterback Jimmy Garoppolo agreed to a restructured one-year contract to remain with the San Francisco 49ers, sources told ESPN’s Adam Schefter.

The new deal is worth $6.5 million in base salary with performance incentives that could lift his earnings to nearly $16 million in 2022, according to Schefter. The contract also includes no-trade and no-tag clauses, ensuring the veteran passer can hit free agency in 2023.

Garoppolo appeared to be on his way out of San Francisco following the 2021 campaign and was the subject of trade speculation for much of the offseason. However, his March shoulder surgery halted any interest from teams.

General manager John Lynch insisted that the 49ers did not plan to cut the signal-caller.

Prior to the new deal, Garoppolo was set to count for $26.9 million against the team’s salary cap. He was entering the final year of a five-year, $137.5-million contract.

The 49ers were expected to turn the offense over to second-year quarterback Trey Lance. Garoppolo provides plenty of experience, having led the team to a Super Bowl appearance. He owns a 31-14 record as a starter.

Garoppolo passed for 3,810 yards and 20 touchdowns while completing 68.3% of his pass attempts in 2021.

The Atlanta Falcons restructured the contract of quarterback Matt Ryan to create $12 million worth of cap room, a source told Ian Rapoport of the NFL Network.

Ryan, 36, was due $23.75 million in 2022, Rapoport reports.

The former All-Pro passer has two years remaining on a five-year, $150-million extension signed in 2018. Ryan agreed to convert salary into bonuses over the previous two offseasons, creating $14 million in cap space (2021) and $5.2 million (2020), according to Spotrac.

The four-time Pro Bowler led Atlanta to a 7-10 record last season, throwing for 3,968 yards and 20 touchdowns against 12 interceptions while completing 67% of his pass attempts.

Prior to Ryan reworking his deal, the Falcons had $4.2 million available in cap room, according to Over the Cap.

The New York Giants have reached an agreement on a restructured contract with wide receiver Sterling Shepard, sources told NFL Network’s Mike Garafolo and Ian Rapoport.

Shepard, who’s entering his seventh season with the club in 2022, is the longest-tenured player on the Giants roster. The 29-year-old’s previous deal would’ve expired after the 2023 campaign.

“You just got to realize it’s not personal,” Shepard told CBS Sports HQ’s Josina Anderson. “Right now I’m just focusing on my Achilles rehab and controlling what I can control.”

Shepard has missed almost 20 games over the past three seasons due to various injuries, including an Achilles ailment that wiped out most of his 2021 campaign.

New York selected the Oklahoma product in the second round of the 2016 NFL Draft. Shepard has hauled in 349 receptions, 3,884 yards, and 21 touchdowns in six seasons.

The Giants continue to carve out space under salary cap this offseason after releasing veterans Kyle Rudolph and Devontae Booker.

Xavien Howard is staying in Miami.

The cornerback and the Miami Dolphins agreed on a restructured contract, head coach Brian Flores announced Sunday.

“We’re excited to have gotten this done,” Flores said, according to NFL Network’s Cameron Wolfe.

“In any negotiation, compromise is important,” he added. “We want all sides to be happy.”

Howard received a $1 million Pro Bowl incentive and $3.5 million in additional incentives as part of his new deal, NFL Network’s Ian Rapoport reports. The Dolphins agreed to rescind all minicamp fines as well.

Miami also assured Howard it will renegotiate a new deal next year and guaranteed $6.78 million of his 2022 salary, Rapoport adds.

However, Howard’s full 2022 salary of $12.98 million is injury protected and will become fully guaranteed on the first day of the league year, Rapoport notes. Additionally, the Dolphins converted Howard’s $500,000 per-game roster bonuses and $100,000 workout bonus for next season to base salary and guaranteed money.

The 28-year-old was frustrated with the Dolphins due to his contract status, and he went public with a trade request last month. Howard cited being paid less than teammate Byron Jones as one of his many issues.

However, the Dolphins remained hopeful they could find a resolution. Howard also appeared open to remaining in Miami shortly after his request, saying it would be the team’s responsibility to fix the situation.

There are still four years left on the five-year, $75.25-million extension the veteran signed in 2019. It’s believed to be the first time in NFL history a player with four years left on his deal has received added money and guarantees, according to NFL Network’s Mike Garafolo.

The second-round pick in 2016 is coming off his best season as a pro. He led the league in interceptions (10) and passes defended (20) in 2020, earning him Pro Bowl and First-Team All-Pro honors.

The New York Giants and Nate Solder agreed in principle to a reworked deal for the offensive tackle to return to the team, a source told NFL Network’s Ian Rapoport.

Solder opted out of the 2020 season due to the COVID-19 pandemic but said recently that he intends to play in 2021. The veteran was set to earn $10 million and carry a cap hit of $16.5 million this upcoming campaign in the penultimate year of his contract.

The 32-year-old presumably took a pay cut in order to secure his place on New York’s roster. The NFC East club could have saved $10 million against the cap by designating Solder as a post-June 1 release, per Over The Cap.

Solder will likely enter the Giants’ training camp as a backup.

New York inserted 2020 first-round pick Andrew Thomas at left tackle after Solder opted out and has 2020 third-rounder Matt Peart set to take over the right tackle spot from pending free agent Cameron Fleming.

Solder, who won two Super Bowls as a member of the New England Patriots, wasranked 54th among offensive tackles in 2019 by PFF. He performed solidly in run blocking but struggled mightily in pass protection, allowing the third-most sacks in the league with 11.

The Kansas City Chiefs are expected to restructure the contract of star quarterback Patrick Mahomes in order to save $17 million against the cap, sources told ESPN’s Adam Schefter.

Mahomes’ $21.7-million roster bonus reportedly will be converted into a signing bonus.

The Chiefs are currently around $4.4 million over the NFL’s $182.5-million salary cap after releasing starting offensive tackle Eric Fisher and Mitchell Schwartz on Thursday, per Over The Cap.

The move should allow the reigning AFC champions to make some free-agent additions as they look to bounce back from their Super Bowl LV loss to the Tampa Bay Buccaneers.

Mahomes signed a league-record 10-year, $450-million contract in July.

The former NFL MVP is coming off another All-Pro season in which he threw for 4,740 yards and 38 touchdowns against six interceptions en route to the second Super Bowl appearance of his career.

The Houston Texans and star defensive end J.J. Watt have reportedly agreed to a restructured contract, according to Field Yates of ESPN.

While there isn’t any significant adjustment to the mega-deal Watt signed just last season, his $10-million roster bonus has been converted to a signing bonus, creating $8 million in salary cap space for the Texans in 2015.

As is the case with every standard restructure, converting either a base salary or a roster bonus into a signing bonus gets the player the same amount of money up front while allowing the team to spread the cap hit over the length of the contract.

Watt is arguably the NFL’s best defensive player and the Texans will now have some additional financial flexibility when it comes to bolstering the roster around him heading into next season.