Player That Lost $8 Million After A Late Fax Will Sign A $35 Million Contract With The Ravens

Elvis Dumervil

Defensive end Elvis Dumervil has agreed to a five year, $35 million contract with the Baltimore Ravens according to Jeff Zrebiec of The Baltimore Sun.

This contract is more significant than most free agent deals because it comes just one week after Dumervil’s agent failed to fax paperwork for a restructured deal prior to a deadline. That move cost Dumervil $8 million, as the team chose to release him rather than pay his 2013 salary of $12 million.

However, Dumervil actually comes out ahead as the new contract is worth $8.5 million in 2013 and contains $12 million in guaranteed money.

In the end, the big losers are the Broncos and Dumervil’s agent, who was fired following last week’s mix up. Denver must now replace a three-time pro bowler. And Dumervil’s agent loses out on $360,000 commission (assuming 3% fee on $12 million).