EverBank, Jaguars agree to naming rights pact for stadium
Football Betting Lines
07/27/2010 - Jacksonville, FL (Sportsbook Betting Lines) - EverBank and the Jacksonville Jaguars announced a five-year agreement Tuesday for the naming rights to the team's stadium.
EverBank Field will replace the moniker of Jacksonville Municipal Stadium, which has stood since 2007 when Alltel completed a 10-year agreement.
The joint announcement was made by team owner Wayne Weaver, EverBank CEO Rob Clements and Jacksonville city council president Jack Webb Tuesday.
"I clearly think it's a game-changer," Weaver said of the deal. "Today's announcement demonstrates (EverBank's) confidence that Jacksonville is a viable football market."
The Florida Times-Union reported Monday the terms call for the team to receive 75 percent of the stadium naming rights revenues and the city 25 percent. The Jacksonville city council is expected to approve of the deal at a meeting Tuesday night.
"It's our belief that this partnership will continue," said Clements. "It reflects our strong conviction in this team and in this city. We are major stakeholders in this city and we believe we're going to have a long-term relationship with the team."
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FOOTBALL BETTING : Crabtree's base deal: six years, $32 million
In the wake of the news that the 49ers have signed receiver Michael Crabtree after an extended holdout, there has been not a hint of the dollars to be paid to Crabtree.
And since this means that his agent hasn't leaked the numbers, it means that his agent feels no specific motivation to do so.
Possibly because his agent isn't all that thrilled to have his name on the deal.
So the numbers will come from sources other than Crabtree's agent. And we've gotten our mitts into them.
Per a league source, Crabtree has signed a six-year, $32 million contract. (The total includes guaranteed money, base salaries, and the one-time incentive based on achieving minimum playing time.)
The deal also includes $17 million in guaranteed money.
As reported elsewhere, the deal can void to five years based on performance triggers, wiping out a final year base salary of $4 million. But they won't be easily reached.
The source tells us that, in his first four seasons (including 2009), Crabtree must either qualify for two Pro Bowls, or he must qualify for one Pro Bowl in one year and he must participate in 80 percent of the offensive snaps in a separate year in which the team makes the playoffs.
In other words, if in 2010 he qualifies for the Pro Bowl and the team makes the playoffs and he participates in 80 percent of the snaps, he'll still need to make it to the Pro Bowl or achieve the 80-percent/playoffs in another season.
Since the chances of Crabtree making the Pro Bowl or participating in 80 percent of the offensive snaps this year is roughly zero percent, he'll have three years to get it done.
And it won't be easy. Frankly, he'll be hard pressed to make it to one Pro Bowl in three years with the likes of Larry Fitzgerald, Calvin Johnson, Anquan Boldin, Steve Smith, the other Steve Smith, Hakeem Nicks, DeSean Jackson, Johnny Knox, Percy Harvin, Greg Jennings, Roddy White, T.J. Houshmandzadeh in the same conference for sportsbook betting.
So, by all appearances, it's a six-year deal. And at $17 million in guaranteed money, the per-year guarantee is a tepid $2.83 million per year.
There's another problem with the deal -- it has no mid-tier incentive package. Instead, the additional $8 million that Crabtree can earn (pushing the max value to six years, $40 million) requires the kind of unrealistic, mega-star performances that no rookie is likely to ever achieve.
So while the contract paid to Packers defensive tackle B.J. Raji covers five years and pays $22.5 million, he has the ability (if he's a solid player) to make up the difference between his base deal and Crabtree's five-year, $28 million haul via the mid-tier incentive package in Raji's deal.
And unless Crabtree meets the performance thresholds necessary to void the sixth year, he'll be stuck under contract for another year at a base salary of only $4 million.
There's one other area of concern with the deal. Crabtree, per the source, received no option bonus. Instead, he has significant money tied to a fairly new device known as a "discretionary salary advance," which unlike an opition bonus is subject to forfeiture if Crabtree decides in a year or two that he wants to hold out for a better deal. (We're also told that the 49ers have included language that would make certain escalators subject to forfeiture, too.)
Meanwhile, the deal falls well short of the mark for which Crabtree and agent Eugene Parker were aiming -- the five-year, $38.25 million contract paid by the Raiders to receiver Darrius Heyward-Bey, the seventh overall pick in the draft.
Even if Crabtree successfully voids the final year, he'll make more than $2 million per year less on average than Heyward-Bey.
Thus, as we explained earlier in the day, this is a deal that Crabtree could have done in July, which would have given him a much better chance of making a contribution to the 49ers during his rookie year.
So while the final outcome can be described as win-win, the broader view suggests that it's really a lose-lose situation.
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MySportsbook.com refunds all bets on Oakland, Green Bay and Tampa Bay from NFL week one.
(September 14) – Week one of NFL action saw three teams go scoreless for the first time since 1977. Another four were unable to get a touchdown and almost half of the underdogs covered the spread. Those three teams saved bettors at MySportsbook.com from losing out completely, thanks to the company’s unique NFL Shutout Rule -- which ensures that if the team you backed goes scoreless, your wager is refunded.
Sportsbook refunded tens of thousands of dollars to customers who bet on Oakland, Green Bay and Tampa Bay, the three teams that stunk up the field so badly that their fans and backers never had a chance to get up from their couches and cheer. In the spirit of the low scoring start to the season, odds makers at the world’s largest online sportsbook and casino have set odds on how many total shutouts there will be this season.
MySportsbook.com has posted updated sports betting lines for week two of the season. Ben Roethlisberger’s health status is still questionable, so Willie Parker will try to lead Pittsburgh again as they travel to Jacksonville as a one point favorite. After beating up on his little brother last week, Peyton Manning will look to lead the Colts to victory against Houston. Indianapolis is a whopping 13.5 favorite in the match-up.
Seattle, last year’s highest scoring team, showed the power of their defense with their gritty 9-6 win in Motown over the ravenous Lions. They take their act back home to the comforts of Qwest Field where they will face the resurgent Arizona Cardinals. The Seahawks are favored by a touchdown.
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