Report: Agent who bungled Dumervil deal fined, suspended
Back in March, the Broncos and Elvis Dumervil's agent, Marty Magid, agreed to a restructured contract. Except Magid didn't submit it on time and Denver was forced to release Dumervil.
Back in March, the Broncos and Elvis Dumervil's agent, Marty Magid, agreed to a restructured contract. All that was left to do was for Magid have Dumervil sign the new deal and return a copy to the team before a deadline that would require the Broncos to either pay the linebacker his original salary or release him outright.
The organization didn't receive Dumervil's faxed information until it was too late and had to let him go. Otherwise, they would have been on the hook for his original $12 million salary.
This raised all sorts of questions about why in the year 2013 anyone would be using a fax machine. It also led to Dumervil promptly parting ways with Magid.
Now, seven months later, FOXSports.com reports that the NFL Players Association has fined Magid $25,000 and suspended him six months for negligence in the fax mishap that at the time cost Dumervil $4 million (it's what his restructured deal would have been worth with the Broncos this season).
But all's well that ends well -- at least for Dumervil. He signed a five-year contract with the Ravens (it's effectively a three-year deal worth roughly $17 million), which is $1 million less than he would have made in Denver.
Dumervil's new agents, Tom Condon and Ben Dogra, negotiated his Ravens' deal that included $11 million in guaranteed money.
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