bigmanofds
Well-Known Member
Somebody mentioned this on another site. I thought it interesting
Quote:
USFL
Young signed a record 10-year, $40 million contract with the Los Angeles Express of the now-defunct United States Football League in 1984. He agreed to take his payment in the form of an annuity to help the fledgling team; he would receive 40 million dollars paid out over 40 years. It was with the Express that Young came into contact with coach Russ A. Molzahn. At the time, it was another huge signing by the fledgling league, who had also succeeded in signing then current Heisman Trophy winner, running back Mike Rozier of the University of Nebraska as well as the previous winner, University of Georgia's running back Herschel Walker. Despite being surrounded with some talent, such as future NFL'ers Jojo Townsell, Mel Gray and Kevin Nelson, and making the playoffs in Young's first season, the Express never was able to create a sustaining fan base in Los Angeles. Young missed the first six games of his rookie season because he took some college classes so he could graduate on time. However, he started the final 12 games and had a decent year. His most notable accomplishment was becoming the first pro football player ever to pass for 300 yards and rush for another 100 in a single game.
As it turned out, Young did well to take his contract in the form of an annuity. In his second season with the Express, owner William Oldenburg went bankrupt, and was forced to turn the team over to the league after being unable to find a buyer. The season rapidly became a fiasco. Before one game, the team bus driver refused to drive the Express to the Coliseum after his paycheck bounced. Young contributed a lot of money, as did some of his teammates, and the driver got them to their game. Young then lined up in the tailback position and took snaps from the shotgun formation because the Express were left with no healthy running backs.
The league ceased operations in 1986 after losing most of its claims in an antitrust suit against the NFL. As of 2010, Young continues to receive his annuity. Payments started at $200,000 per year in 1990 and will continue to increase annually. In 2027, the final year of the contract, Young will receive $3.173 million
http://en.wikipedia.org/wiki/Steve_Young
Quote:
USFL
Young signed a record 10-year, $40 million contract with the Los Angeles Express of the now-defunct United States Football League in 1984. He agreed to take his payment in the form of an annuity to help the fledgling team; he would receive 40 million dollars paid out over 40 years. It was with the Express that Young came into contact with coach Russ A. Molzahn. At the time, it was another huge signing by the fledgling league, who had also succeeded in signing then current Heisman Trophy winner, running back Mike Rozier of the University of Nebraska as well as the previous winner, University of Georgia's running back Herschel Walker. Despite being surrounded with some talent, such as future NFL'ers Jojo Townsell, Mel Gray and Kevin Nelson, and making the playoffs in Young's first season, the Express never was able to create a sustaining fan base in Los Angeles. Young missed the first six games of his rookie season because he took some college classes so he could graduate on time. However, he started the final 12 games and had a decent year. His most notable accomplishment was becoming the first pro football player ever to pass for 300 yards and rush for another 100 in a single game.
As it turned out, Young did well to take his contract in the form of an annuity. In his second season with the Express, owner William Oldenburg went bankrupt, and was forced to turn the team over to the league after being unable to find a buyer. The season rapidly became a fiasco. Before one game, the team bus driver refused to drive the Express to the Coliseum after his paycheck bounced. Young contributed a lot of money, as did some of his teammates, and the driver got them to their game. Young then lined up in the tailback position and took snaps from the shotgun formation because the Express were left with no healthy running backs.
The league ceased operations in 1986 after losing most of its claims in an antitrust suit against the NFL. As of 2010, Young continues to receive his annuity. Payments started at $200,000 per year in 1990 and will continue to increase annually. In 2027, the final year of the contract, Young will receive $3.173 million
http://en.wikipedia.org/wiki/Steve_Young
