NFL Player Loses $8 Million After Faxing In His Paperwork Six Minutes Late
Here's how it happened:
Dumervil and the Broncos agreed to a restructured contract at 3:25 p.m. on Friday, according to ESPN, 35 minutes before the 4 p.m. deadline to get a deal done.
The team owed Dumervil $12 million in 2013, and had intended to cut him unless he took a pay cut. At the 11th hour, Dumervil agreed to take that pay cut, and signed a contract that would have paid him $8 million in 2013.
But Dumervil and his agent didn't move quickly enough, and the Broncos didn't get the faxed contract until 4:06 p.m., six minutes after the deadline passed.
By that time the Broncos had cut Dumervil, rescinding that $8 million deal and sending him in to free agency.
Dumervil fired his agent the next day, and now he's searching for a new team.
It's an embarrassing situation for everyone involved, but it will probably have a happy ending.
Dumervil is still a productive player, and he could still get somewhere around that $8 million on the open market. The Ravens — who lost key defensive players Ed Reed, Dannell Ellerbe, and Paul Kruger in recent days — are reportedly interested.
But at the end of the day he might end up staying in Denver anyway. According to USA Today, Dumervil wants to re-sign there, and firing his agent (who the Broncos were reportedly upset with) was a step toward repairing his relationship with the team.