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10 Terrible Sports Contracts

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RockaFowler Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-31-11 05:36 PM
Original message
10 Terrible Sports Contracts
http://www.cnbc.com/id/43928560?slide=2

Albert Haynesworth - He earned an unpaid suspension from the team in December 2010 for " conduct detrimental to the club ," and this cost him approximately $847,000. However, that’s a drop in the bucket compared to his $100 million contract, 41 percent of which is guaranteed.

Alex Rodriguez - The previous record was a 10-year, $252 million contract from the Texas Rangers that also went to Rodriguez. Despite his nearly flawless performance with the team, they decided that his contract was simply too expensive and traded him to the New York Yankees, buying out the remainder of his contract for $67 million

Alexei Yashin - Yashin suffered a knee injury in 2006 that sidelined him until the following year. After a disappointing return to the team, the Islanders called it a day and bought out what was left of his contract for $17 million. This decision ultimately amounted to a recurring nightmare for the team’s bottom line, as it requires them to keep paying him over $2 million a year until 2015.

Bobby Bonilla - Bonilla’s performance was a disappointment, and the Mets decided to cut him loose. However, he still had a year left on his contract and almost $6 million left of his salary. Rather than just cut him a check and get rid of him, the team made a deal to defer payment for 12 years, to accrue interest annually at 8 percent . The deal sure worked out for Bonilla, who received his first $1,193,248 check in July 2011 and will keep getting them every year until 2035.

Ben Wallace - Wallace’s two years with the Bulls were notable mainly for knee injuries that compromised his game and gave him a six-point average. In 2008, the team decided to cut their losses and get rid of him, but he still had two years left on his contract . The Bulls traded him to the Cleveland Cavaliers, though they were stuck with a $30 million bill for the remainder of his contract.

Allan Houston - The new contract guaranteed him $100 million over six years. However, knee injuries began to plague him, and in the 2003-2004 season he missed 32 games. By late 2005, he was forced to concede that he couldn’t continue and he announced his retirement, almost a full year since the last time he had actually set foot on the court .

Stephon Marbury - When the New York Knicks signed Stephon Marbury to a four-year, $76 million contract in 2004, expectations were high. He had been a standout member of the Minnesota Timberwolves, the New Jersey Nets and the Phoenix Suns, and made the All-Star Team in 2001. Things went south with the team almost immediately.

Nate Odomes - His glory days were in the early 1990s, when he was considered one of the NFL’s greatest defensive backs, and in 1993 he signed a four-year, $8.4 million contract with the Seattle Seahawks.
Odomes never made it to the field. Before starting training camp in 1994, he injured his knee so badly that it prevented him from playing for the entire season.

LeCharles Bentley - In 2006, before his first season with the Browns had begun, he suffered a knee injury on day one of training camp. His left patellar tendon had been torn, a devastating injury that brought his first season to a close before it had even started.

JaMarcus Russell - Russell was released from the team in 2010. Shortly thereafter, the Raiders filed a lawsuit to get back the $10 million they paid him for the three seasons left in his contract. The pay was part of his guarantee, however, making it likely that the team paid him $10 million to not play for them.

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mojowork_n Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-31-11 11:39 PM
Response to Original message
1. Players who get hurt are one thing,
especially when the timing is really bad (in the first week or month with the new team),
but what about a head coach who messes up?

Whatever the Atlanta Falcons paid Bobby Petrino, it was too much. He was insult on top
of injury, when he quit the team to take a college job, 13 games into the season.
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dakota_democrat Donating Member (334 posts) Send PM | Profile | Ignore Mon Aug-01-11 12:20 AM
Response to Original message
2. I like how they use Ben Wallace's low PPG as the reason the contract was bad.
And by like, I mean I love it when non-sports people talk sports.
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TZ Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-01-11 07:22 AM
Response to Original message
3. Pretty sure the Haynesworth one is head and shoulders the worst
Over any other on this list. I know its certainly the worst ever by the Skins.
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RockaFowler Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-01-11 07:32 AM
Response to Reply #3
5. That Bonilla one is pretty bad, too
The Mets are not the smartest organization in MLB.
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Chan790 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-06-11 05:51 PM
Response to Reply #5
14. Fred Wilpon is not the smartest owner in baseball...
especially when it comes to money management. How this man became a self-made millionaire and managed to actually hang on to the money is mind-boggling.

Which was dumber:

*Deferring $6M of Bonilla's contract at twice the most optimistic projection of economic growth over the term of deferment?

*Investing money with Bernard Madoff after the rumors began to spread, as a sign of faith in a friend. So much money that most finance people looking at the team-budget, Wilpon's personal wealth (now negligible) and his possible legal liabilities (He's being sued by the people Madoff scammed as an accessory and unwitting co-conspirator) concede that he will eventually have to sell the team, though he refuses to consider that a possibility.
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Chan790 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-06-11 05:33 PM
Response to Reply #3
13. Will it be worse or better...
if he performs well with the Pats while the 'skins are still on the hook for much of the contract? I mean it's Snyder's money, you might think it come-uppance for his Al Davis (can't leave football operations to the professionals) impersonation.
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Auggie Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-01-11 07:31 AM
Response to Original message
4. Barry Zito
Edited on Mon Aug-01-11 07:46 AM by Auggie
He changed his motion the year he signed with the Giants and hasn't been the same since. At the time of his signing -- December 2006 -- it was the biggest contract for a pitcher in baseball history: $126 million over seven years. As a Giant: 43 wins, 61 losses.
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KamaAina Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-06-11 06:58 PM
Response to Reply #4
15. A-yup
BOOOOOOOOOOO!!!!!!
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joeybee12 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-01-11 02:34 PM
Response to Original message
6. Russell's is probably the worst, not the most money lost, but most of the
others on this list are there because of injuries...Russell was just a lazy SOB.
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Auggie Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-01-11 02:42 PM
Response to Reply #6
7. Too much Purple Drank, most likely
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joeybee12 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-01-11 03:10 PM
Response to Reply #7
8. Yeah, didn't he get arrested or questioned about buying a lot of cough syrup? nt
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Auggie Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-01-11 04:11 PM
Response to Reply #8
10. Yes, over a year ago
The case was dropped by a Grand Jury last October.

"A grand jury in Mobile, Ala., has declined to indict JaMarcus Russell on charges of drug possession, closing the case against the former Oakland Raiders quaterback, a source familiar with the situation tells ESPN NFL Insider Adam Schefter.

Russell was arrested in July for alleged possession of codeine. He told ESPN that he tested positive for codeine after the Raiders selected him with the No. 1 pick in the 2007 draft but that he has not used codeine in three years.

Russell was charged with felony possession of a controlled substance, codeine syrup. Authorities said he did not have a prescription for the drug and that he was arrested July 5 at his home as part of an undercover investigation."

LINK: http://www.nflpassers.com/jamarcus-russells-drug-possession-case-dropped/

A friend took the blame... :eyes:

Well, it could be true.

http://blog.al.com/live/2010/08/jamarcus_russell_codeine.html
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TZ Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-01-11 03:19 PM
Response to Reply #6
9. No Haynesworth was both lazy and greedy
AND a menace to the city around him. Its not even close, Joey.
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Angleae Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-01-11 09:13 PM
Response to Reply #6
11. Ryan Leaf was even worse
We only gave up one draft pick for Russell. The Chargers gave up 2 1st round, 1 2nd round, and a four time pro-bowler for Leaf.
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El Supremo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-01-11 09:30 PM
Response to Original message
12. Stray-Rod beats them all.
I mean the Tom Hicks (the Bush enabler) deal that totally blew out all salaries. And he later realized that the Rangers couldn't afford him!
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