Quote:
Originally Posted by New World Order
Wasn’t that the year they were fined 7 figures for cap violation?
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They structured Elway and Davis’ contracts to where the 2 has almost no cap hits for the 2 years.
Here’s exactly how they did it.
They structured the contracts to where they had big signing bonuses and that made the cap hits for the 2 years bare minimum.
Here’s where it gets better...
Those signing bonuses were told to Elway and Davis that the team couldn’t actually pay them that money right then (due to stadium renovation costs) and that they would pay them the money in 2 years and with MASSIVE INTEREST...basically triple what was on the books as far as the salary cap.
They called it “deferred payments with interest”...which is circumventing the salary cap.
Oh yeah, the Broncos never told the league about these deferred payments, either.
The worst part of it was Denver tried to not even pay the players everything they promised and the league had to step into get them paid.