Steve Young Is Still Earning Millions Off His USFL Contract From 1984

[viman96]

In 1984, Young rejected the NFL draft and instead accepted a record setting $40 million contract with the USFL's Los Angeles Express. The contract was extraordinary for two main reasons: First, it was the largest sports contract ever awarded in history up to that point, equal to more than $90 million today after adjusting for inflation. And second, it wasn't a standard contract that paid a set amount over four or five years. To help the fledgling team and league survive, Steve agreed to accept his payment in the form of an annuity that would be spread out over 40 years. That means, despite the fact that the USFL went bankrupt long ago, today Steve Young is still earning millions of dollars every year off a contract he signed 30 years ago with a team that no longer exits.

http://www.celebritynetworth.com/ar...ing-millions-off-his-usfl-contract-from-1984/

 

[TTexasTT]

In 1984, Young rejected the NFL draft and instead accepted a record setting $40 million contract with the USFL's Los Angeles Express. The contract was extraordinary for two main reasons: First, it was the largest sports contract ever awarded in history up to that point, equal to more than $90 million today after adjusting for inflation. And second, it wasn't a standard contract that paid a set amount over four or five years. To help the fledgling team and league survive, Steve agreed to accept his payment in the form of an annuity that would be spread out over 40 years. That means, despite the fact that the USFL went bankrupt long ago, today Steve Young is still earning millions of dollars every year off a contract he signed 30 years ago with a team that no longer exits.

http://www.celebritynetworth.com/ar...ing-millions-off-his-usfl-contract-from-1984/

Yeah that was a very bizzare contract. Its talked about on this 30 for 30 episode.

I think its on netflix right now.

 

[Phoenix]

worth every penny

 

[panchucko]

Kind of sounds like the Bobby Bonilla contract with the mets, instead paying a lump sum they paid him in installments with interest paid in installments