NFL Rumors: Kam Chancellor Holdout Has Nearly Cost Him $2 Million
NFL rumors about Kam Chancellor’s holdout show how potentially expensive his choice has become. These NFL rumors indicate that Chancellor has lost nearly $2 million in money from his contract with the Seattle Seahawks by failing to honor his deal. A report from NBC Sports breaks it all down, and the numbers are staggering to consider.
For skipping the NFL preseason, Chancellor has allegedly racked up $1.11 million in fines based on a $30,000 per day rate. By missing all of training camp, the Seahawks can now reclaim $250,000 of a signing bonus that he was paid for agreeing to the four-year deal. By deciding he didn’t want to play in Week 1, Chancellor is also forfeiting another $250,000 from that signing bonus.
To compound all the fines that the Seahawks have in place, Chancellor is also slated to miss the first game of the 2015 NFL season. He earns $267,941.17 per game, and that check is going to be lost money if he doesn’t appear on the active roster at game time on Sunday, September 13.
In total, these NFL rumors indicate Kam Chancellor has allegedly lost approximately $1.87 million by not honoring his contract with the Seattle Seahawks. For now, the fines will stop adding up, even though he won’t earn a game check until he ends the holdout. If it extends into Week 5, though, he will start forfeiting more of that signing bonus at a rate of $58,823.53 per week.
When Chancellor signed his four-year, $28,002,008 contract with the Seahawks, he received a $5 million signing bonus for doing so. That money is all paid up front, as a way for the franchise to show good faith to its player. At the time, he had no problem signing the deal and pocketing the $5 million immediately. Fines from the Seahawks could potentially cut into the bonus and he might be forced to pay back some of that money to the team.
If Kam Chancellor decided to report to the team and get ready to play in the Week 2 game, the front office could decide to waive all the fines that have accrued thus far. It’s a common practice when holdouts are settled in the NFL preseason, but this situation has now dragged into the regular season.
The Seattle Seahawks could really use Chancellor against the St. Louis Rams in Week 1, but the team already decided to close negotiations with the Pro Bowl safety. NFL rumors about this situation will continue into Week 2, with the urgency in completing a deal based on the outcome of the first game.
[Photo by Jeff Gross/Getty Images]
