Good Morning, Broncos fans! According to Mike Klis, Denver asked the league office on Friday if it would honor the verbal agreement between the team and Elvis Dumervil on a reduced 2013 salary.
As one might expect, the Ginger Hammer said no, once he was able to get his laughter under control. Or something like that.
NFLPA executive director De Smith has apparently sought an inquiry into the matter, given that it's likely Elvis who has the most to lose.
We're skeptical that the league would bend here, but there is something to be encouraged about - if the Broncos are looking for help, then it would follow that Dumervil has not changed his mind (yet) about sticking around.
Broncos release Elvis Dumervil because new contract too late
In the meantime, Dumervil is a free agent, and Magid said his cell phone “has been blowing up” by calls from interested teams. However, two sources close to the situation said Dumervil wants to get his paperwork fiasco fixed and return to the Broncos.
This situation can be rectified, with no harm, and no foul. But you know what they say - money talks, bullshit walks.
Following the stunning news that a fax snafu had resulted in the release of Elvis Dumervil after he'd agreed to a pay cut, both the Broncos and Marty Magid, Dumervil's agent, have shared their versions of events.
This drama has the potential to join Jay Cutler's alleged phone snub of owner Pat Bowlen, and Tim Tebow's claim that the Broncos didn't give him a choice between trade destinations, in the annals of Broncos communication breakdowns.
As usual, the truth likely lies somewhere between Magid's retelling, which he shared with USA Today's Mike Garafolo, and John Elway's, as told to Mike Klis of the Denver Post. Let's line them up to compare:
Updated 9:28pm ET
So, the Broncos apparently dropped the ball on this one. Reports Mike Klis:
Hold on, contract not filed in time. Elvis Dumervil has been officially released...I'm serious. Contract was not filed by 1:59 p.m. Elvis Dumervil informed Broncos he was taking the new deal at 1:25. Broncos didn't get fax with Elvis Dumervil signature on contract until 2:07 p.m. -- 7 minutes and 1 second past the deadline! Broncos could still sign Elvis Dumervil but there are salary cap implications. Not that simple.
We're about to find out just how good a sales pitch John Elway gave Elvis, and what kind of agent Marty Magid is. Well, aside from his slowness at faxing contracts.
A few days ago, we suggested that cutting Elvis Dumervil before the start of free agency would be the right thing to do, and the proper sendoff to a player who'd given seven years to the team.
Turns out, waiting was the best course of action.
According to Adam Schefter, Dumervil has agreed to a pay cut, and will remain with the Broncos for the 2013 season.
Elvis Dumervil landed $43.156M in guarantees in 2010. More recently, Tom Brady got $57M guaranteed, while Joe Flacco got $52M. Staggering figures, and big news, right?
Sure, except for the part about the guarantees.
Here at IAOFM, we've long taken pride in focusing on the guaranteed portions of player contracts. The advertised length and total value of deals tend to be farces, which only serve to make players seem better paid than they really are, and for their agents to prop up their own reputations.
Originally reported as a one-year deal for $5M, it turns out Dominique Rodgers-Cromartie got a two-year contract, with a voidable second year.
According to Aaron Wilson, DRC's deal is worth $10M over two seasons, with a $4.2M signing bonus, $800K salary in 2013, and voidable $5M salary for 2014. Jason La Canfora reports that the second year voids as long as Rodgers-Cromartie is on Denver's roster five days after the next Super Bowl.
Adding a voidable year, which is essentially a phantom extension of a one-year contract, is done solely for the purposes of spreading a cap hit.
Now that the excitement of free agency's opening act has ended, defensive stars (or former stars) in their mid-thirties are taking the stage.
On Friday, New England will host Colts DE Dwight Freeney, who has been discussed as a possible replacement for Elvis Dumervil in Denver. The Pats will also host Cards S Adrian Wilson and Falcons DE John Abraham.
San Francisco is reportedly having serious discussions with both Packers S Charles Woodson and Eagles CB Nnamdi Asomugha.
Baltimore remains interested in Steelers LB James Harrison.
Updated 9:30pm ET
Happy Friday, Broncos fans! Thursday was the lull after the storm at Dove Valley, as new players were shuffled in and introduced.
But it may also be the calm between storms, as a 4pm ET deadline regarding the contract impasse with Elvis Dumervil looms over Dove Valley.
As we suggested yesterday, and Mike Klis later confirmed, the Broncos are currently up against the salary cap following their hyperactive start to free agency. They're not done adding players though, and any new acquisition must wait until the team frees some more cap space.
That doesn't preclude the Broncos from announcing an agreement with another free agent before Dumervil's situation is resolved, though, as a player doesn't hit the cap until his contract is filed with the league.
Kiszla: Elvis Dumervil's clock is ticking, but Broncos aren't budging
These are the deals that wrench your gut. As an ex-player, I hate to see that. I hated to see that happen to a teammate. And I hate having to do it, in the position I’m in. But I’ve got to do what’s best for this football team.
It’s not all about dollars. But when it’s way out of whack? Then it’s so out of whack that you’ve got to say: That (salary) can’t be it. Especially when you look at the market and what’s out there now. It’s so far out of whack. Hopefully, he realizes that.
Daaaamn. John Elway was a cold-blooded killer on the field, and he's apparently a cold-blooded killer as an exec. The Duke is not messing around, and I love it.