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NY Jets claimed to be cash poor
Posted on 4/3/20 at 11:00 am
Posted on 4/3/20 at 11:00 am
LINK
quote:
The Jets are valued at an estimated $3.2 billion, so why did Gang Green cry cash poor during free agency? General manager Joe Douglas and/or the team’s contract negotiators told agents of free-agent players that the team was strapped for cash, according to sources. Douglas side-stepped a question during his conference call this week about whether he had cash-flow restrictions during the first two weeks of free agency.
quote:
“We’re trying to be as financially responsible as we can be,” Douglas said. “We’re comfortable about where we are right now with our cash flow, while also maintaining a certain level of flexibility. So, if the right opportunity presents itself, we can be proactive and go after a certain player. So, I would just say that we feel good about where we are now and where we are moving forward.”
6
Posted on 4/3/20 at 11:01 am to RedRifle
MSB
Posted on 4/3/20 at 11:02 am to RedRifle
quote:
The Jets are valued at an estimated $3.2 billion
Has nothing to do with cash on hand or flow
This post was edited on 4/3/20 at 11:02 am
Posted on 4/3/20 at 11:13 am to DirtyMikeandtheBoys
I’m sure the whole uncertainty of the corona also is making the team’s weary with not knowing if they’ll be playing a season next year.
Posted on 4/3/20 at 11:19 am to RedRifle
Someone doesn’t understand liquidity.
Posted on 4/3/20 at 11:26 am to RedRifle
Raiders have been well known to be cash strapped in the last few seasons while preparing for the Las Vegas move
Posted on 4/3/20 at 11:30 am to RedRifle
quote:
KANSAS CITY, Mo. — The cash-strapped Kansas City Chiefs were quiet on the first day of NFL free agency with their biggest move Wednesday a restructuring of defensive end Frank Clark’s contract in an effort to alleviate some of their financial misery.
Could be a good thing, 9 months later KC won the Super Bowl
Posted on 4/3/20 at 11:31 am to RedRifle
That article was written by a financial retard
Posted on 4/3/20 at 11:35 am to TigerintheNO
quote:
Could be a good thing, 9 months later KC won the Super Bowl
That article is likely talking about them in terms of cap space being cash strapped.
That’s a different thing than teams having low liquidity which is important when negotiating these contracts because of a weird rule they have where you have to put up any guaranteed money for a player in escrow before signing the deal, even if it hasn’t been earned yet.
So it’s hard to sign a guy for 50 mil guaranteed when you don’t have 50 mil in cash on hand you are willing to put on ice for the next few years
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