NFL Player Loses $8 Million After Faxing In His Paperwork Six Minutes Late

Three-time Pro Bowl defensive end Elvis Dumervil was cut by the Denver Broncos late Friday after he missed the deadline to turn in his contract by six minutes.

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.