“It’s terrible, but he said he knows what happened and why it happened. I know the people in Denver think I should be fired, but like I said [Friday], there were a lot of reasons for why it happened.”
-Martin R. Magid, agent
Dumervil drops agency after signing fiasco
The news is no big surprise to YouWager’s serious NFL football betting fans. Marty Magid, as the agent for defensive linebacker Elvis Dumervil, received hundreds of emails from angry Denver Broncos fans. Magid was responsible for negotiating a contract that should have kept Dumervil on the Broncos. Dumervil had even agreed to lower his base salary for the 2013 NFL football betting season, down from $12 million to $8 million. But due to particular details of the deal, Magid, or Dumervil, somehow failed to find a way to fax the new deal back to the front office in time to meet the 4PM deadline. Now, Dumervil has been released by the team he wanted to play for, the team he was willing to help, by taking less money.
Why the hard deadline by the team? An NFL analyst at YouWager explained that it’s a legal matter. If the Broncos had not released Dumervil at 4PM, they would have been responsible for fulfilling the original contract, a 12 million base, plus a 2013 salary cap hit of $13.6 million, YouWager’s expert says.
Former agent Magid told a YouWager news source that he has waived the usual five-day waiting process so Dumervil’s new representation can negotiate with the Broncos or any other teams that might be interested in Dumervil. Magid told YouWager’s source, “I had teams lined up that were interested in him. They’ll have to contact his new guy now.” On his agency’s website, Martin “Marty” Magid’s bio promises services such as “contract negotiation, player recruitment, and the personal attention that helps each client reach his full potential.”
Obviously, Mr. Dumervil disagrees with this assessment.
The word in the online betting community is that the Baltimore Ravens, Tennessee Titans, and New England Patriots are all interested in Dumervil. According to YouWager’s source, Dumervil is now represented by Tom Condon and Ben Dogra of CAA, one of the most powerful agencies in sports. Condon also represents Broncos quarterback Peyton Manning. YouWager’s source suggests the change in agents might help heal the situation in Denver.
Back in July of 2010, Dumervil signed a six-year $61.5 million contract extension (this included $43.168 million in guaranteed payments) to keep him with the Denver Broncos through 2015. Magid was not the agent on that deal. Dumervil’s previous agent passed away. YouWager’s dedicated college football bettors will remember that Elvis Kool Dumervil was an All-American when he played for the University of Louisville. He was picked by the Denver Broncos in the fourth round of the 2006 NFL Draft. But in August of 2010, Dumervil tore a pectoral muscle in practice, and missed the entire 2010 NFL football wagering season.