Colin Kaepernick is the starting quarterback for the San Francisco 49ers but he’s actually making less than former Niners QB Steve Young, who is still being paid from a contract he signed years ago. One of the key items in the recently renegotiated Collective Bargaining Agreement (CBA) was the pay schedule for rookie players. Prior to a new CBA, teams that finished with top picks in the next year’s draft, were put under the financial gun.
Sam Bradford was the last player to take advantage of the former system. Bradford signed a 6-year $78 million dollar deal with $50 million guaranteed before ever playing a snap in the NFL. Teams today are able to select a quarterback further down the first-round or even later for much less cost. For instance, Robert Griffin III (1.350), Russell Wilson (526,000) and Kaepernick (740,000) combined are making nearly $7 million less than Josh Freeman this year.
The website, Celebritynetworth.com posted an article which outlined how Steve Young is making $1 million dollars this year off an old contract.
Young’s payment comes from an annuity he was guaranteed when he signed a lucrative contract with the noew defunct USFL team, Los Angeles Express. Young inked a deal in 1984 which was worth $40 million as the USFL was competing head to head with the NFL for players and got into a bidding war.
The article outlines how the contract was backloaded in order to offset the upstart costs of the new league. Young received a guaranteed $40 million with $4 million coming up front and the first five years of the contract worth $200,000 to $400,000 in year five. The remaining 30 million was put into an annuity to be paid between ages 28 and 65. Clearly one of the most bizarre sports contracts in sports history. Young then went on to get paid by the Tampa Bay Buccaneers and San Francisco 49ers after the USFL folded and filed bankruptcy.
Since Young is still being paid on a quarterback contract, how come the Rams didn’t call him this week after San Bradford went down.