Anthony Carters agent will pay the difference between what he would have gotten paid with Miami and his San Antonio contract. http://www.miami.com/mld/miamiherald/sports/basketball/6447017.htm This still smells fishy too me. Would agents have insurance to cover something like this?
I don't know about insurance but it's the right thing to do. If the agent doesn't cover it, no other athlete would want him to represent them.
the question is whether the miami heat are "compensating" the agent in any way? after all, the real beneficiary is the Heat and their ability to go after Odom. Most companies have E&O policies that cover negligence, which appears to be the case here.
The agent was going to pay either way. He could pay willingly now, or get sued and pay the same money later, with legal fees tacked on.
Yes they would. It's called E&O - Errors and Omissions insurance. Anyone who deals in contracts as an agent or broker would have this to protect themselves incase they screwed up the contract.
Why oh why doesn't Moochie's contract have this "escape clause" that we could have exercised under the table?
I don't think with 7 players under contract the Heat would need to scratch out another 3mil in cap space. Odom is the only major free agent left and they have enough room to sign him to the max and go after a veteran.
The agent did this only to save face with all of his other clients otherwise he would never pay him all of the difference
It is hard to imagine professionals like Duffy and his people would overlook a $4.1 mil contract! It also smells because Carter did not seem to mind so much when the story broke that his contract was dropped. It was like he has kwown all along that he would get his money.
Maybe his agent was on the ball about mending fences as soon as he realized he screwed up. Perhaps he called Carter up immediately and he told him he'd pay the difference. I don't know if Carter's reaction is much to go by.
Kudos to Billy Duffy. What a way to admit your wrongdoing and turn words into action. I bet he will secure even more clients with his handling of this affair. And I think it is a sure thing that whoever screwed Duffy out of several mil with this dumb oversight is in the unemployment line right now.
I don't get your logic. If you only have 7 players under contract, then you have a lot more holes to fill than the average team...hence you could use the cap space much more. And as for the FAs left to sign, I think there was a lot more than Odom left over when this first went down. That was back when Kidd, O'Neal and company were still undecided.
Seeing how the Rockets gave Mo Taylor a "wink wink" deal, I don't think this would be the first time an NBA team has "cheated" around the cap.
There's a difference between a verbally promised "wink wink" deal and actually paying someone under the table to avoid the cap space it would take away. Whether or not Taylor was given a secret deal or not, I don't think he two situations are that similar
