John Clayton just reported Ricky will not become a Free Agent

[AtlantaPhin]

One hand bankruptcy lawyer other hand John Clayton?

Who would you believe in this matter?

Also never said it was a given if he filed. Just have always maintain that it is a possibility. Criteria will have to be met I sure, and who knows if RW will met those.

All I've ever said was it was possible.

Actually Clayton cited several cases simliar to Ricky's where precedent has ruled in favor of the team....Dale Carter, Barry Sanders etc. I'd like to think Clayton knows the skinny on this dude. Sorry but he even reported the NFLPA has already decided not appealing the decision because they have seen precedent in this situation and it never goes to the player. Case in point, Barry Sanders actually paid back his bonus money without filing bankruptcy and his rights were still owned by the Lions for several years. According to him, bankruptcy doesn't apply to the contract in this case, only to Ricky's creditors. Sorry I didn't get that in depth earlier but didn't realize a bunch of you thought differently for whatever reason.

 

[KB21]

As long as Miami does not go after the money then they retain his rights.

However if they go after the whole 8.6 at one time then it will get interesting.

Also on Inside the NFL they were talking and they tend to believe Miami will garnish future earnings.

Which would be even more devestating to RW if he plays for another teams.

That's what I figure will happen. Miami will retain his rights. If and when Ricky decides he wants to play, Miami will either negotiate a deal with the Raiders (IMO, the only team that will willingly give up something to get him right now) or tell him to stick it. Once a deal is made, then Miami will likely go after the money that Ricky owes them.

Miami can't fight the bankruptcy thing, because unlike baseball, the NFL does not have an antitrust exemption as far as I know.

 

[AtlantaPhin]

Your post above saying I was no where, because I had not replied in this thread.


Did not say Miami WOULD lose his rights if he filed. Said if he is granted then there is a possibility that he contract could be voided. Not a given simply because he files or is granted it.

Great analogy. Made total sense.


What about when Deion retired?

Apples and oranges.

Deion was not granted bankruptcy either, nor did he ask for it.

I know if you retire and you have years remaining on your deal, then your contract still ties you to that team for the length of the remaining year.

However bankruptcy CAN change that. The contract can be voided.

According to Clayton and NFL precedent he cited on several players, filing for bankruptcy has nothing to do with voiding a contract, only to do with the players creditors. Sorry dude, not trying to bash you here but you're wrong.

 

[Dphins4me]

The Lions got money back from Sanders also and still retained his rights.

Yes, and so would Miami if RW simply paid the money back.

However filing bankruptcy can change everything.

 

[canesfins13]

The Fins losing Ricky's rights would be the same is if I have an employment contract, the obligations I have under that contract do not disapear if I file for personal bankruptcy. How many attorneys are actually posting here? Or should I say, how many of you guys staid in a Holiday Inn Express last night.

 

[AtlantaPhin]

Section 126.... I can't figure out how to write in those big letters but regardless, YOU ARE CORRECT!!! Bankruptcy law is completely different from NFL contract law. Bankruptcy law only pertains to the individuals creditors and can in no way effect the status of a players contract while that contract is still in effect based on the fact that both the team and player originally agreed to the deal. No player has nor ever will be allowed out of their contract with a team, because their personal finances were askew. In this case, Ricky simply didn't fill the term of the contract obligations that he and his agent signed on for. Hence, Miami gets their money back and Ricky is still obligated whether he files bankruptcy or not, to fill the obligations of the original contract which is still in effect until 2007. It can be voided in 2006 at Miami's discretion.

 

[perezferia]

It'll Never Happen. Not In The Nfl. No Way.

You should care, because RW could be playing elsewhere and Miami could be left with nothing in return.

NFL rights are tied to contracts. When the contract expires then you become a FA. If you meet the bargined guiddlines for being a NFL FA.

RW meets those guidelines. What is so hard that you do not understand this.

How can RW contract be void, but Miami could then retain his rights?

Once you are out from under a deal, then your rights belong to you, not the team.

Allow me to interject:

The NFL owners will be addressing this whole Bankruptcy thing soon enough with future language on their rookie and FA contracts that will essentially require the players to waive the right of seeking protection from Bankruptcy as a form of negotiation.

But for the present situation, let's say Ricky files and the Courts grant him protection from ALL creditors including The Miami Dolphins. That means that any money that Ricky owed based on the contract is forgiven. It also means that Ricky will have to take stock of his assets and save his principle residence, everything of value will be fair game for the Dolphins to try and recoup their losses.

Rather than go there, I believe that lawyers on both sides will negotiate a settlement, in which Ricky pays back a percentage of his money owed in exchange for the Dolphins trading him to a team of his choosing ready to rip up the old deal and hand him a new deal.

The Dolphins would get whatever draft picks would be available from this future team (they gave up 2 #1's and a #4 so look for Spielman to initially ask for that) and the money Ricky would repay, say 20% and Ricky would get a new deal, a clean slate and a new contract.

Some would say, brilliant strategy by Ricky, right?

Wrong, cuz the Dolphins will NEVER do that. That's what Ricky hoped they would do, but they wont because there are bitter feelings at play here.

The Dolphins are going to demand their money from Ricky and demand the league go after him to set an example to every spoiled millionaire athlete who tries to circumvent the system this way. Then, as the Phins chase Ricky's money and assets, they'll demand the league compensate them with Draft Picks for the loss of Ricky to what essentially will be percieved as a loop hole within the system. The Phins gave up A LOT for Ricky and got royally screwed. The Owners will step in and compensate the Dolphins whether Ricky does or not.

Finally, the Dolphins will fight hard to retain Ricky's rights so that he CAN'T come back and play for a team of his choosing. When they trade his rights it'll be to the team offering the PHINS the best deal, NOT RICKY. And if there is a God up in Heaven, let it be a crap team, some place he'll just hate with lots of spotlight and criticism. Please let it be the JETS! They deserve him after having a class act like Curtis Martin for so many years. Man, we should be so lucky.

So that's it. NO WAY MIAMI COMES AWAY WITH NOTHING. Those of you who think that don't understand how things are done in the corridors of power in the NFL. The owners will make it their personal mission to make sure Miami comes out on top on this deal and that Ricky gets as LITTLE as possible.

Don't be surprised if the owners give a bunch of goodies to the Phins and then after Ricky serves his 1 year suspension they suspend him again "mysteriously" for, oh I don't know, pick a reason. If there's one thing you don't do is you don't pick a fight with a billionaire, and Ricky is challenging 32 of them (more or less) with this strategy. This idea that Ricky is trying could undo our beloved NFL and turn it into the misery that is Baseball's salary structure.

I mean imagine, you're a rookie and you get drafted by Arizona. They give you a big signing bonus and you play one year, you quit, they arbitrate, you lose and then you file bankruptcy. Pay back dimes on the dollar and next year you play where you like as a free agent?

My friends, fear not. IT WILL NEVER HAPPEN. NOT IN THE NFL. NO WAY.

Ricky is NOT going to be happy with what the league will do to him. In fact the only way that loser will ever be happy is if the NFL launches a new expansion team in Jamaica.

:roflmao:

Until then, keep the faith.

AND GO PHINS!!!!

 

[Motion]

I don't think us getting his rights is a big deal. I don't think he will come back to football. Still, I'm happy we still have them just in case.

Yeah right what else is he gonna do? He knows he can't make that kinda money doing anything else. He'll be back.

 

[AtlantaPhin]

Yes, and so would Miami if RW simply paid the money back.

However filing bankruptcy can change everything.

Filing for bankrupcty changes nothing. That's his personal business. It in no way changes the terms of a contract him and his agent agreed to. His creditors may not get paid but one of them won't be Miami. They WILL get their money back as that was the orginization who was breached by his retirement. This isn't court law and you need to understand that. This was decided by an agreed upon arbitrator by both parties and the decision is final as agreed upon by both parties. If Miami doesn't get their money back, Ricky could be looking at jail time since he is perfectly capable of earning money by playing football.

 

[Dphins4me]

The NFL owners will be addressing this whole Bankruptcy thing soon enough with future language on their rookie and FA contracts that will essentially require the players to waive the right of seeking protection from Bankruptcy as a form of negotiation.

Why would the NFL need to address this if Bankruptcy did not allow contracts to be voided?

 

[Steel Rule]

If I was a Dolphin fan, I wouldn't worry much. With all the partying Ricky's doing he should be broke before midseason and begging to return to the team.

 

[Dphins4me]

We are simply talking in circles now.

First off RW may never file for bankruptcy.

Second even if he does then its not a given he will be granted it.

Many factors will come into to play.

We will have to see how this plays out before we know for sure.

 

[AtlantaPhin]

Why would the NFL need to address this if Bankruptcy did not allow contracts to be voided?

They won't be addressing it because it a completely seperate issue. You really need to stop here guy, you have no idea what you're talking about. I've been through several business litigations where an arbitrator was used and in all cases the decision was final and not appealable even in the event of bankruptcy. That's why one would do this, in Miami's case, get an arbitrator instead of a court of law, to figure this out.

Bottom line is Ricky owes Miami 8.6 mill and even if he files for bankruptcy after the fact, that doesn't preclude him from owing Miami the money or getting his rights for free agency. End of story.

 

[PhinstiGator]

...I mean imagine, you're a rookie and you get drafted by Arizona. They give you a big signing bonus and you play one year, you quit, they arbitrate, you lose and then you file bankruptcy. Pay back dimes on the dollar and next year you play where you like as a free agent?

My friends, fear not. IT WILL NEVER HAPPEN. NOT IN THE NFL. NO WAY...

I certainly agree with that conclusion. It's just that when our local Miami media (Cole :hi5: Armando, & Marvez) are telling fans that Ricky can become a free agent if Bankruptcy is declared...for some reason people believe them. They site no precident or evidence of this claim. I'd Dan Rather not trust their word. John Clayton is a bit more reliable.

It's likely that the Dolphins will not force Ricky to pay back all the money at once. They will institute a reasonable payment plan so that Ricky has no real grounds for bankruptcy.
.
.

 

[finzfan4life]

As long as Miami does not go after the money then they retain his rights.

However if they go after the whole 8.6 at one time then it will get interesting.

Also on Inside the NFL they were talking and they tend to believe Miami will garnish future earnings.

Which would be even more devestating to RW if he plays for another teams.

YOUR WRONG!!! WRONG!! WRONG!! WRONG!!! My sister is an attorney in Tampa and she looked this up. Miami under certain section laws and with the NFL will hold his rights up to where the length of the contract is through. That's a fact.