That sounds like it’s probably the case probably both ejected and they don’t know officially
Jeff Gladney Passed Away RIP
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I read in an article that she posted on Instagram hours before that she was riding with Gladney (meaning he was driving at the time).
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Gone way too soon. R.I.P.
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So I got to thinking about this and wondered how the team will address his contract. He signed a two year, $6.5 million contract with the Cardinals. $4 million is guaranteed including a $2 million signing bonus. I assume he already got paid the bonus half the bonus as the contract calls for it to be split between the two years, but does the rest of the bonus and guaranteed money still get paid out to his family/daughter or does it now revert back to the team? I would be nice if the entire four million found it's way to his daughter or at the very least the entire bonus money.
I had the same thoughts.
Ideally, the money goes to his family, but is classified in such a way that nothing hits the cap.
If there isn't a clause the estate would keep the signing bonus but wouldn't get any more. The rest is treated like a trade or release.I think that equates to $1m dead cap this year, and $1m dead cap next year.
He also might be insured. A lot of players have injury of death insurance, I don't know if the Org has something set up for that or if they leave it to the player.
RON_IN_OC
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Is it treated like a trade or release, or more like an injury? Teams have insurance on players and their contracts, usually, to protect against a player having a catastrophic injury. I wonder if have the same for untimely demise. It's just a sad, sad situation, all around.
What Happens To A Player's Money If He Dies While Under Contract?
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In the NFL, a player's death is treated just like a release or trade. His salary ends and any bonuses that were paid to the player but not yet charged to the salary cap are brought forward as a charge against the cap. When the Redskins' Sean Taylor was killed in 2007, his signing bonus charges were counted on the team's 2008 salary cap book.
What Happens To A Player's Money If He Dies While Under Contract?
We saw a pretty fascinating event unfold earlier this NFL season. The Bills' Vontae Davis retired in the middle of the game, saying that he realize...
www.celebritynetworth.com
In the NFL, a player's death is treated just like a release or trade. His salary ends and any bonuses that were paid to the player but not yet charged to the salary cap are brought forward as a charge against the cap. When the Redskins' Sean Taylor was killed in 2007, his signing bonus charges were counted on the team's 2008 salary cap book.
So if I understand this correctly signing bonuses are paid in full at contract signing however the team is allowed to pro rate it over the term of the contract. In Gladney's case, the team has to claim the entire bonus in 2022 and his contract is terminated. Then the other question is how the guaranteed money is handled.What Happens To A Player's Money If He Dies While Under Contract?
What Happens To A Player's Money If He Dies While Under Contract?
We saw a pretty fascinating event unfold earlier this NFL season. The Bills' Vontae Davis retired in the middle of the game, saying that he realize...
In the NFL, a player's death is treated just like a release or trade. His salary ends and any bonuses that were paid to the player but not yet charged to the salary cap are brought forward as a charge against the cap. When the Redskins' Sean Taylor was killed in 2007, his signing bonus charges were counted on the team's 2008 salary cap book.
This I lifted off a reddit discussion group and it was written by a person in the financial world.
"That would depend on the legal framework of the contract and the cause of death.
If the money is indeed guaranteed then for all intents and purposes the money should belong in the player's name. If the player dies then the estate goes into probate."
I would hope that the Cardinals would do as much as legally possible to provide as much compensation to the family. Considering his lifetime earning potential, his family/daughter would be missing out on a sizeable chunk of money.
legend
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Personal responsibility for one's own actions just isn't a thing anymore?
The Cardinals should account for this guys potential earning power . . . ?
Tragic yes. Self inflicted . . yes.
I hope the young man had life insurance to clean up the mess he made.
The Cardinals should account for this guys potential earning power . . . ?
Tragic yes. Self inflicted . . yes.
I hope the young man had life insurance to clean up the mess he made.
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Nope, but they should honor a good portion of his contract IMO.
Yup. All signs point to this as self inflicted as a result of poor life choices. It’s sad and it’s tragic. But imo rules like this should change. Teams shouldn’t be left on the hook for moronic behavior. If an owner wants to compensate family members more power to them but they shouldn’t be required to imo. Teams get out of contractual money for crappy/illegal behavior all the time. This should be no different if they choose.
Jetstream Green
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I would imagine Michael Bidwill would and did. He might make some questionable moves (not as much as his old fashioned pop) but he has a big heart
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Did it come out that he was drunk or something?
juza76
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Didn't hear about that but maybe he is referring about speeding and reckless driving
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The $2m signing bonus was a condition of the agreement, and unless there is offset language covering accidental death or incapacity will go to his heirs, I imagine. The more contentious issue is that his season one salary ($1.5m) was guaranteed, and I wonder if there's offset language covering this specifically. At this point, Gladney is listed at $2.5m against the Cap in 2022 - ($1.5m salary + $1m of prorated signing bonus.)
From what I have read it seems there were a couple of things that were established, one he was the person speeding, two he clipped the car in front of him as he was passing it which caused him to lose control of his vehicle.
Not saying the team should account for his earning potential, just saying his family lost out on it. Even though everything hasn't been released yet due to the ongoing investigation, what seems to have been determined is Gladney was the speeder and he did hit the car he was passing which caused him to lose control of his vehicle. These two things alone do indicate Gladney contributed to his demise.
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Michael snuggles the cap space
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i think this is right. NFL contracts often have "guaranteed" attached to things that turn out not so guaranteed under certain conditions.
was the salary guaranteed for injury? seems like they pay out.
he wasn't a vested vet, so he wouldn't have qualified for the provision where if he was on the roster week 1, the salary for the whole season becomes guaranteed. So was it something like that for him?
Seems like the team wouldn't have to pay --
and btw: if that's the case, I am not sure they have the option to pay per the collective bargaining rules even if they wanted to.
I wonder if the team will ever put out a statement regarding how they handled his contract and if they paid anything out to the family? It's not like they have to.
juza76
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Don't know, there is also the young lady (passenger) hope they don't forget about her family
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Jetstream Green
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In reality, if she is not his wife or the mother of his child... the team does not owe her family financially, but I dig your compassion too because she had a life and soul like all of us
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