Athletes First reps lead company checklist with $2 billion in NFL contracts

Josh Allen # 17 of the Buffalo Bills throws a pass against the Pittsburgh Steelers in the first half at Highmark Stadium on September 12, 2021 in Orchard Park, New York.

Bryan M. Bennett | Getty Images

Athletes First is the top sports agency with around $ 2 billion in contracts for 75 active professional footballers, according to a new study of high-earning agents among well-known and accredited National Football League player representatives.

Athlete’s first agent Todd France tops the list, with around $ 1.19 billion in contracts negotiated between 33 active NFL players. David Mulugheta is also on the list with 42 NFL players and $ 830 million in deals. Together, the two have negotiated just over $ 2 billion in active agreements for Athletes First.

The winning data was compiled by the digital sports betting platform Pickswise in cooperation with the global marketing agency ICS-digital. The companies used active NFL player contract information through Spotrac.com, which collects data on teams and player contracts. The study only collected deals from high profile reps and finds that NFL agents receive up to 3% commission on NFL deals. Using this percentage, France has estimated that more than $ 35 million was earned from active contracts.

Athletes First has negotiated over $ 4 billion in sports contracts, earning approximately $ 85 million in commissions Forbes. But this earnings study did not include contracts for players who were retiring or terminated, nor contracts that have expired.

One of the most famous active NFL deals is Buffalo Bills quarterback Josh Allen, who signed a six-year deal for $ 258 million last month. Allen’s average annual contract value is $ 43 million per season, ranking second only to Patrick Mahomes, quarterback for the Kansas City Chiefs. The Chiefs star signed a 10 year old $ 450 million deal with an average annual value of $ 45 million per season.

Dallas Cowboys quarterback Dak Prescott also used Athletes First to secure his $ 160 million four-year deal. Prescott has chosen to sign a shorter-term contract that will allow him to benefit from a higher salary cap upon his re-entry as the NFL’s $ 100 billion media rights deal will add to the league’s total revenue. The current NFL media deal helped the teams raise approximately $ 309 million each.

The NFL is a high risk of injury sport and most teams do not guarantee player contracts due to the high injury rate. Agents are pushing back on it by seeking as much guaranteed money as possible, including signing bonuses.

If you just take guaranteed money into account, Allen’s deal at $ 150 million is the highest in the NFL. Mahomes’ deal includes a guaranteed $ 141 million, and Prescott ranks third with $ 126 million.

Tom Condon from the high-performing Creative Artists Agency has Allen as a client after taking over for France left CAA in 2020. Condon ranks second in the results study with 24 active NFL players and around $ 954 million in contracts. His commission from the agreements is approximately $ 28 million and the client list includes Atlanta Falcons Quarterback Matt Ryan.

Mulugheta ranks third with $ 24 million in commissions, including the deal he negotiated for Houston Texans quarterback Deshaun Watson, a four-year contract valued at $ 156 million -Dollars guaranteed).

Up-and-coming agents who aren’t in the top ten include Zeke Sandhu of Elite Athlete Management and Wasserman’s Doug Hendrickson ($ 10 million in commissions) and Chafie Fields (around $ 5 million in commissions) of $ 158 million active deals.

Fields recently Pittsburgh Steelers star added JuJu Smith-Schuster and negotiated a $ 100 million deal for Cowboys Wideout-Amari Cooper deal. Cooper’s deal is the highest in the NFL for a wide receiver.

This article has been updated to reflect Josh Allen’s current agency.

Bonuses, spending of American Rescue Plan cash, stay sticking level in new Mayfield Heights union contracts

MAYFIELD HEIGHTS, Ohio – The city council did not approve a new contract for the service department on Monday, July 12th, but like previous union deals that also received no approval from the council this year, it will come into effect soon.

The council voted 3-3 (with Council President Diane Snider abstaining because her husband is a police officer) in the vote on the service contract. As negotiated by the city and the departmental union, the new contract provides for a salary increase of 2.5 percent and a one-off bonus in each of the three years (starting retroactively in January). The bonus is 4 percent of each employee’s salaries in 2020. The contract is similar to the contracts signed by police and fire service unions earlier this year. Traditionally, non-union city workers in Mayfield Heights receive the same raise as union workers.

Although the council did not approve the contract approved by the administration, state law provides that the contract with the service department will come into effect within 30 days of the contract being signed.

As it was the fall in May With the contracts for police and fire brigade, city councilor Gayle Teresi was supported by councilors Robert DeJohn and Donald Manno against the service contract. The service department contract is the last to be billed.

“We’re all in favor of everyone getting a raise,” Teresi said when she was contacted on July 15. “Our service department, our fire brigade and our police are great – we are not taking that away. It’s just that when we (council and administration) spoke at the beginning, just before the contracts were approved, it said (workers) would get a lump sum and it came back 2.5 (percent) and a lump sum every year . That wasn’t what we talked about, we either talked about it, or we did.

“If you make $ 80,000 (per year) you will make $ 3,200 more,” she said of the bonus. “But our directors make more than $ 80,000. Some make $ 120,000 or more. “

The city expects $ 1.8 million this year and the same amount as its share of the federal rescue plan (ARP) in 2022. Mayor Anthony DiCicco said the bonus money will be paid thanks to city workers who continued to work during the pandemic. The ARP money can be used to pay for the bonuses that DiCicco said will total around $ 350,000. The bonuses, he said, are only paid once.

Instead of spending the money on bonuses, Teresi would like to see the money spent to help the residents.

“There are many elderly (residents) with permanent home incomes who cannot fix the driveway if they are cited by the building authorities,” she said. “You can’t put a new roof on. You’re from Social Security. They just don’t have the money so why don’t we help them? Let’s just do something for the residents and give our employees 2.5 percent for three years. “

Teresi said it would also help the city help residents modernize their homes.

“And when that elderly person is gone – moves, sold, dies, God forbid – their house would be in better shape to be sold.”

Speaking of the city’s desire to use the ARP money for bonuses, she said, “It’s like a kid in a candy store – you know you get this (ARP) money, so we’ll just spend it.”

The July 12 meeting included residents from Marnell Avenue ask the city for help with their flooded basements. A problem that residents have been discussing with the city administration for several years.

“These people came to the meeting (to make complaints),” Teresi said. “One woman spent $ 63,000 keeping water out of her basement. She waterproofed her entire house. We made Dye testing last March and by now (the city) should have figured it out (flooding problems). So let’s do something for the residents. It’s (ARP) free money, ”Teresi said.

“Let’s take something from the plate. Let’s help the elderly. Let’s help our housing stock or our own home. Let’s fix the sewers. These people cannot sell their houses. Some of them, their insurance company, are no longer taking damage because they have had so many claims. ”Teresi said there are other homes in the area that have also been hit by floods, including those on Ascot and Bellingham streets.

Regarding spending the ARP money, DiCicco said, “We’re still talking about what we’re going to do with it. The sewers, we’ve got to find out what’s going on with the sewers over there. Dan Gerson, our city engineer, found some leaks between the rainwater and the sewer system during the main paint tests. So something needs to be fixed.

“I think it was about $ 300,000 worth of repairs. It’s good. We’ll go ahead and do this, but testing still needs to be done to find out exactly what needs to be done before we invest any money. We intend to fix whatever we find there. This (ARP) money can be used for this. “

DiCicco went on to say that the cash for the employee bonuses can come from the ARP fund or from the city’s general fund.

“We also have money to fix the sewer problems. It’s just a matter of figuring out what needs to be done. It’s not like you can’t do one thing and can’t do the other. We are in a sufficiently good position to carry out the (sewer) repairs and still take care of our employees. “

In other news

More news from the July 12th Council meeting:

– A request for acceptance of bids for Asphalting the entire Woodhawk Drive stayed on the table. DiCicco said it is still unclear whether the surface renewal will happen this year.

– During a full committee meeting on July 12th, the advice was heard from representatives from LevelHEADS Inc., an architectural firm that is working with the urban engineer GPD Group in hiring a site manager for the upcoming community center / pool project on Marsolstrasse. A very early concept of a plan was shown to the council.

“This is a very preliminary (rendering) that we saw,” DiCicco said. “They showed us what they can do. The building may not look like this when it’s built. But I liked the overall layout because the buildings are between the freeway (I-271) and the pool to shield (the pool) from the freeway.

“I think the general layout will stay the same, but now that we have chosen a site manager and set the budgets, we need to know exactly what the building will look like and what amenities we want. ”

The plan is now to demolish the current community center and build the new one a little further west on today’s parking lot. It is not yet known whether the new community center will be a story or two high.

– There were also points for planning and building Sheetz and Raising Cane’s Chicken Fingers on the Mayland Shopping Center site, which is currently being redeveloped on Mayfield Road.

“They were filed because they both need parking exemptions from the Board of Zoning Appeals,” DiCicco said. “I think it would be better if you go to the zoning board of appeal first so they can make a decision and then the council can act.”

Both companies, DiCicco said, are definitely coming to Mayland. In the case of Sheetz, a gas station that also includes a grocery store and a coffee / sandwich shop, plans have been changed so that the gas pumps cannot be seen from Mayfield Road, but located behind, at the request of local residents the building.

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Columbus Exposition and Racing Contracts With Caesars Leisure to Develop On line casino and Racetrack in Nebraska

Columbus, Neb., July 2, 2021 / PRNewswire / – Columbus Exposition and Racing (CER) and Caesars Entertainment, Inc. (NASDAQ: CZR) announced today that CER has appointed Caesars Entertainment to build and operate a Harrah’s casino and race track in. selected Columbus, Nebraska.

“We are happy to welcome Harrah’s Nebraska, “said Tom Jackson, Managing partner of CER. “When looking for a casino operating partner, Harrah’s brand awareness and established code of conduct was an easy choice with its employees, customers and the communities in which they operate, along with their excellent rewards program and marketing team, and strong entertainment network “and premium gaming experience are the right boxes for this partnership.”

Jackson continues, “As we work to create a new entertainment destination for the Midwest, this partnership will become a major economic engine and job creation for us Columbus and the surrounding communities. It also reinforces our commitment to the hard working people who participate in the Nebraska Horse racing industry. We look forward to bringing new gaming and entertainment experiences to our valued customers. ”

The approximate $ 75 million Casino development conveniently located on Highway 81 in Columbus, is expected to feature a new 1-mile horse race track, 40,000 square foot casino and sports betting with more than 400 slot machines and 20 table games, as well as a restaurant and retail space. Completion of the property is planned for the end of 2022.

“When Nebraska voters started racing on the racetrack, we knew that our experience in the casino industry combined with our dedication to horse racing made Harrah’s perfect,” said Harrah Tom Reeg, CEO of Caesars Entertainment. “We look forward to having a whole new Harrah’s experience in Columbus and connect it to our Caesars Rewards network across the country. “

“Beyond the beginning of casino gambling in Nebraska, we are excited about the opportunity to turn horse racing into Columbus, “said Joe Morris, Senior Vice President Racing at Caesars Entertainment. “The opportunity to build a new, first-class race track on our property shows our commitment to the racing industry and our intention to continue the region’s long-standing racing tradition.”

Live Horse Racing was part of the Columbus Community for more than 75 years. CER board members Tom Jackson, Dan Clarey, Russell Placzek, Chad Sucha and Dennis Hall have been running live racing and simulcasting in Ag Park since 2013. Columbus and the surrounding counties continue to support live racing with blanket races sponsored by local businesses, class reunions, and memorials.

About Columbus Exposition and Racing, Inc.
Columbus Exposition and Racing, Inc. (CER) was founded in 2013 and is not for profit Columbus Company dedicated to the future of horse racing Columbus and Nebraska.

About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino entertainment company in the United States and one of the world’s most diversified casino entertainment providers. Since its inception in Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through new resort development, expansions, and acquisitions. Caesars Entertainment, Inc. resorts operate primarily under the brand names Caesars®, Harrah’s®, Horseshoe® and Eldorado®. Caesars Entertainment, Inc. offers a variety of gaming, entertainment and hospitality amenities, unique travel destinations, and a full range of mobile and online gaming and sports betting experiences. Tied to its industry-leading Caesars Rewards loyalty program, the company is focused on creating value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars is committed to its employees, suppliers, communities and the environment as part of its PEOPLE PLANET PLAY framework. Know When to Stop Before You Begin.® Gambling Problem? Call 1-800-522-4700. For more information, please visit. www.caesars.com/corporate.

SOURCE Caesars Entertainment, Inc.

Cash Now, Taxes Later With Pay as you go Ahead Contracts

If your uncle, best friend, or your bank lends you money, is it taxable? No, not if it’s a real loan. But the credit or income distinction gets many people into trouble with the IRS. Also, pre-IPO interest rates on risky loans like litigation finance and stocks are high, and you may not be able to deduct the interest. Worse, when a loan is made – even a no recourse loan – it is Debt Income Cancellation (COD). The tax code states that non-repayment of a loan is like cash. How about a sale? If you get money to sell your stock or assign half of your expected legal action, it is income. Can you get upfront money that is not a loan but also not income when you get it? The answer to this puzzle is yes, with a variable prepaid futures contract. Since the transaction is a sale, you can expect it to be taxed now.

Tax Time text on adhesive note on alarm clock

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However, a variable contract leaves open how much money (share sales proceeds, litigation proceeds, etc.) the seller must later deliver to the financier. The amount is uncertain as the formula used to calculate it generally depends on facts that will not become known until the proceeds are actually received. When you sign a prepaid futures contract and receive cash, you are entering into an agreement to sell some of the proceeds of your stock sales or filing a lawsuit later. A futures contract provides for a future sale. In the time between signing and closing the sale, the upfront cash is like a tax-free deposit. When a prepaid futures contract meets certain requirements, it provides cash to the seller with no immediate tax, just like a loan. However, it is important to get the correct documentation. You don’t want to get a futures contract, pay a high yield to a financier, and find out that you have to pay taxes now.

Also, you don’t want to find out later that you can’t deduct a large payment of the proceeds to the funder or somehow offset it against the proceeds of the transaction that generated the proceeds. A prepaid futures contract can involve the sale of stocks or other assets. This may include the assignment of part or all of the action or its proceeds. Many factual patterns are possible with stock sales or litigation financing. However, the tax issues are nuanced and can be confusing. A traditional futures contract is that the buyer agrees to buy a fixed amount of property at a fixed price, with payment and delivery on a fixed future date. In the case of a “prepaid” forward, the buyer must pay at the time the contract is signed (as opposed to the delivery date). Taxpayers who sign a futures contract to sell property in the future are generally not treated as the seller of the property. The contract remains open like an option until it is sold, settled, or expired.

Money changes hands, but there should not be an immediate chargeable event for the seller if the future sale involves a variable amount of proceeds. It is not possible to determine how to report the prepayments until completion. The IRS primary tax authority is the Revenue Ruling 2003-7, 2003-5 IRB 1, where the IRS has approved the handling of open transactions for a prepaid variable futures contract with sale of stocks. The IRS said that no recent sale occurred when a shareholder (1) received a fixed amount of money, (2) concurrently entered into an agreement to deliver a number of common shares at a future date, which varied significantly depending on their value The shares on the delivery day, (3) pledged the maximum number of shares for which delivery might be required under the agreement, (4) had the unrestricted statutory right to deliver the pledged shares or to assign the pledged shares in cash or other shares replace on delivery date and (5) was not economically forced to deliver the pledged shares.

Share sale? For example, let’s say Sam enters a prepaid futures contract to sell stocks and receives an advance of $ 100. Later, Sam must deliver shares in cash according to a variable formula or equivalent value. If Sam physically delivers stocks upon settlement, Sam recognizes gains or losses based on the difference between $ 100 and the basis in the stocks Sam delivered. If Sam delivers cash, Sam’s profit or loss is based on the difference between $ 100 and the payment made to settle the contract.

Litigation proceeds? Suppose the plaintiff enters into a lawsuit to sell 50% of the proceeds he receives back to F, a litigation financier. F pays the plaintiff the purchase price ($ 100) that could fund the legal costs. Two years later, the plaintiff settles his case for $ 500. Plaintiff directs defendant to pay F $ 250 if his stake in the case continues under the contract.

Prepaid futures contracts are a legitimate means of generating cash in a tax efficient manner. They are popular in both litigation funding and stock dealing. Offers that closely follow the pattern set out in Revenue Ruling 2003-7 are best if you can. After all, the IRS doesn’t exactly like open transactions where people get money now but don’t pay taxes until later. That said, you should be careful with your documents. Ideally, seek tax advice before signing and also when it’s time for tax reporting.

Cash & the Legislation: What to find out about motorized vehicle service contracts | Enterprise

Fraudulent sellers of extended vehicle “warranties” took hiatus about a decade ago. That’s because a big player on that stage, US Fidelis, went broke and its owners, brothers Cory and Darien Atkinson, went to jail. Prior to its collapse, US Fidelis had made approximately 1 billion robocalls in a single ten month period to sell its products.

But robocalls (and postcards) from companies warning vehicle owners that the manufacturer’s warranty is expiring and that they must act FAST to protect themselves from costly repairs are on the rise again. (At the Federal Communications Commission, robocalls of this type won the top prize for most complaints in 2020.) So what’s the truth here? After all, manufacturers’ warranties are void and vehicle repairs can be beyond the budget.

In the beginning, vehicle service contracts are not “guarantees” unless they come from the manufacturer of the vehicle. They are also not insurance policies as they are not made by insurance companies. Rather, it is merely a matter of contracts between a vehicle owner and a company who agree, for a fee, not to accept the risk of an “operational or structural error … due to a material or work deficiency or normal wear and tear” covered by a manufacturer’s guarantee.

Additionally, in 2016, Colorado law amended the law on automotive service contracts to protect against tires and wheels damaged by road hazards. stone damaged windshields; Doorbells and other physical injuries that can be mended using paintless repair methods; and lost keys and key fobs. (Have you set any of these prices lately?)

Companies that offer automotive service contracts have great flexibility in setting the terms of the contract. It is therefore important to pay close attention to these terms. Some contracts state what is covered and state that everything else is not covered. Others list what is not covered and state that everything else is covered. Vehicle service contracts are limited in time and kilometers and do not cover the need for repairs resulting from other than normal use of a vehicle, e.g. B. Off-road trips into the mountains or competitions on your local drag strip.

The cost of these contracts varies widely, and as you would expect, a bumper-to-bumper contract will cost more than a powertrain-only contract. If the manufacturer’s warranty is valid for a longer period of time before the service provider takes a risk, the contract costs less. Because of this, if you plan to keep a vehicle beyond the manufacturer’s warranty, you can save money by taking out a service contract when or shortly after purchasing the vehicle. Note here, however, that dealers get a healthy commission on the sale of service contracts and that you will likely get a selling point before you are allowed to leave the dealership.

Because some service contracting companies do a better job than others working under their contracts, this is an issue that you need to address as well. Your regular mechanic will be happy to tell you (probably in detail) the companies to avoid.

When you buy a car service contract, you can take modest comfort in the fact that under Colorado law no one can sell such a contract unless there is an insurance policy from an approved insurance company that protects the contract buyer from default by the contract seller . Failure to meet this requirement is a misleading commercial practice.

Jim Flynn is with Flynn & Wright LLC in Colorado Springs. You can contact him at moneylaw@jtflynn.com.

Rating the three QBs subsequent up for big-money contracts after Dak Prescott’s monster Dallas deal

Dak Prescott made NFL history this week by securing $ 126 million in guaranteed money as part of his $ 160 million renewal Dallas Cowboys. The quarterback is also now the second highest paid player in his position, just behind him Kansas City Chiefs Superstar Patrick Mahomes. But Dak’s big deal probably won’t be the last of the 2021 off-season.

While the Cowboys waited a long time to jail their previous fourth-round draft pick, a handful of other teams won’t want to pull out inevitable extensions for their own young callers, especially if long-term deals could fall short-term salary cap place at a time , in which teams are struggling with pandemic-related cuts. We consider three QBs in particular: The BrownsBaker Mayfield, the billsJosh Allen, and the RavensLamar Jacksonwho all have rookie contracts that expire after 2021.

All three QBs could potentially be maintained through 2023 without large cash extensions. Each of their respective teams can exercise options for the fifth year as well as potential franchise tags for the following year during this off-season. However, the cheaper route means paying sooner rather than later. And right now, all three QBs from the 2018 Design Class are virtual locks to keep up to date.

With that in mind, who among Mayfield, Allen and Jackson are most likely to get the biggest deal?

Let’s first consider their respective effects after three seasons in the NFL::

  • Number 1 in 2018, Mayfield was by far the trio’s “pedestrian” and suffered a huge drop after a promising rookie year before bouncing back in 2020. But he was also quietly the most productive passerby of the bunch over three years. His arm and size aren’t nearly as mind-blowing as everyone’s, but he leads the group in touchdown passes and yards per game. Mayfield was a rather sturdy game manager for Cleveland’s fatal offense in 2020 and looked far more comfortable.
  • Anyone who finished 7th has seen the most meteoric rise, from boom-or-bust playmaker to legitimate MVP candidate. His talent for overtime will always put his game at risk, but he silenced hordes of critics pre-draft and early career by increasing his accuracy in late 2019 and 2020. An on-site bulldozer leading the trio in a hurry.It’s the safest, most exciting thing the Bills have had its focus on in decades, and it’s debatable whether its cap is the highest of the group.
  • Jackson, who stayed in the draft until No. 32, is the most physically gifted of the group, as his record marks show. Kyler Murray is on the way, but there’s no QB in the NFL who can move like Jackson; Its speed and change of direction can instantly change a game. He also has the best starting record of any QB here by far, although his playoff performances have been a lot less inspiring. The question with Jackson is whether he can consistently find his way to victory.

Here is a breakdown of all three QB numbers by three seasons:

Baker Mayfield

45

23-22 (1-1)

75 43 241.6 61.9 89.1 437 (4)

Josh Allen

43

28-15 (2-2)

67 31 220.6 61.8 90.4 1,562 (25)

Lamar Jackson

37

30-7 (1-3)

68 18th 154.0 64.0 102.6 2,906 (19)

If one thing should be clear, it is that all three are due and big money renewals will almost certainly be received. But this is how we would estimate their chances of actually resetting the market that Mahomes set with its $ 450 million mega-deal in 2020:

3. Baker Mayfield (Browns)

Projected Deal: Four years, $ 134 million ($ 33.5 million per year)

It is the most difficult to project just because its trajectory was less clear. Do / should the Browns want to keep him? Yes. He’s proven in 2020 that he can adapt to various roles at the Center, and he’s got Moxie to point out guard-like duties in Kevin Stefanski’s offense. But should the Browns buy the option, he’s next Russell Wilson? We’re not so sure, and probably not either. A four-year deal would allow both sides to reassess when Mayfield is only 30 years old. An annual average of $ 33.5 million would mark him the fifth or sixth highest paid QB, roughly equivalent or ahead Jared Goff ($ 33.5 million), Aaron Rodgers ($ 33.5 million), Kirk cousins ($ 33 ​​million) and Carson Wentz ($ 32M), but just behind proven QBs like Deshaun Watson ($ 39 million) and Wilson ($ 35 million).

2. Josh Allen (Bills)

Projected Deal: Four years, $ 168 million ($ 42 million a year)

Prescott’s deal has certainly helped everyone who will almost certainly turn in more than $ 40 million per season, considering he’s about three years younger and has better playing ability, let alone a current offer for one AFC title game. The fact that he’s only gotten better each season in the NFL also gives his representation a lot of leverage; What other young QB outside of Mahomes and maybe Watson is on a clearer upward trend to an MVP-level star? Buffalo probably won’t keep up with Mahomes’ annual average, considering Allen still has big playoff games to win, but the money should make him a guaranteed top-3 QB with the highest wages.

1. Lamar Jackson (ravens)

Trying to choose between Allen and Jackson for the next bigger deal is like flipping a coin, and many employees would prefer Allen to walk over Jackson’s legs. To be clear, Allen could very well top this list in terms of new money because in reality he looks more like the whole package during his ascent. But Jackson has a few things in his favor. For one thing, he’s incredibly young; He just turned 24, which means that even a four-year contract would get him back on the market at 28. His athleticism, we have found, is also unparalleled, giving the Ravens one or two of the best pure, transcendent talents in the NFL. For all the hassle he gets for his early playoff starts and inconsistent air numbers, Jackson is closest to Mahomes’ level in terms of physical aptitudes, and that will give him as much leeway – most of it justified – as he evolves .

Projected Deal: Four years, $ 170 million ($ 42.5 million per year)