Thursday, June 28, 2007

Journalists and Athletes can keep a good team down

Here's John Tomase and Deion Branch questioning the economically wise moves of the Patriots management:
Following the AFC title game, the Patriots [team stats] revamped their receiving corps. Does Branch believe those moves signaled regret over how his situation was resolved?
“If you asked the Patriots today, who knows what they’d say?” Branch said. “Being that they went out and signed four or five wide receivers, maybe they would have handled it a little differently knowing what they know now.”
Here's what I posted almost 5 months ago:
Considering Deion Branch is costing the Seahawks $8 mil this year (and $22 mil in the first 3 years of his $38 mil contract), having Randy Moss for $3-5 mil for just this season looks much nicer. That means the Patriots have $12 mil in cap space that they can allocate this season and next, plus the perceived upgrade from Branch to Moss this season. Win now, plus win next season.
No wonder so many multimillionaire athletes manage to squander their assets so dramatically. Pros on the field, amateurs in wealth management.

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