Dumvervil debacle could result in litigation over agent fees
As former Broncos defensive end Elvis Dumervil tries to become a current Broncos defensive end, he has fired his agent in the hopes of getting back in the good graces of the team.
Getting fired may not be the only problem for Marty Magid.
Magid signed Dumervil following the passing of Dumervil’s prior agent. Gary Wichard, who died on the day the lockout started in March 2011, had negotiated Dumervil’s now-terminated contract. Wichard’s estate remained entitled to all fees generated by the deal.
Per a source with knowledge of the manner in which agent fees are handled, the restructured deal that was supposed to be finalized on Friday would have resulted in Wichard’s estate and Magid sharing the fees going forward. Now that Dumervil’s prior contract was terminated, Wichard’s estate will receive no fee for the deal that is negotiated by Dumervil’s new agents, Tom Condon and Ben Dogra of CAA.
And that could spawn litigation between Wichard’s estate and Magid. Wichard’s executor will have to decide whether to pursue the matter, which at a salary of $8 million and a fee of three percent would have generated a total payment of $240,000 by Dumervil in 2013.
It’s unclear whether it’s a claim that would be filed with the NFLPA or via separate litigation channels. Regardless, if the evidence suggests negligence by Magid in the finalization of the contract, Wichard’s estate could have a viable claim for the loss of its share of the fees that Dumervil would have paid under the contract that wasn’t finalized because the paperwork didn’t get to the Broncos on time.