Julian Edelman found himself in big trouble, as the NFL decided to suspend him. The four-game suspension followed after Edelman was accused of violating the NFL’s PED policy.
The receiver missed the Super Bowl LII and was injured for the entire last season. Now he is ready to repeal the ban, hoping to lift the suspension.
Money experts shared their opinion regarding the financial side of the suspension. How much will Edelman lose if found… guilty?
Julian Edelman will lose $470,588.20 of his base salary within the first month of the 2018-19 season. Edelman’s per-game bonuses will ‘suffer,’ too. He will lose $125,000 there. Speaking of the signing bonus, Edelman will give away $392,157. The information was confirmed by CBS Sports analyst Joel Corry.
The managing director at New York City-based Mariner Wealth Advisors Justin McCarthy and his colleague Mark Vlasic have been working with NFL players and former players for a long, long time. Mariner offers advice on investing, budgeting and even estate planning. The duo knows a lot about the compensation of NFL players and the financial penalties.
“Julian Edelman’s lost earnings is certainly a tough pill to swallow and by no means insignificant — roughly $1M and about net $600K — would be material to pretty much anyone. The loss of potential future investment growth of that money makes it even worse,” McCarthy said.
“Based on Julian Edelman’s NFL career earnings to date, one would like to think that he has put himself in a financially secure position, whereby such roadblocks won’t derail his financial plans altogether,” he added.
Vlasic was a NFL quarterback for seven years. He played with the Kansas City Chiefs, San Diego Chargers and Tamba Bay Bucaneers. So, he has a lot to say on the matter.
“Should Julian Edelman already have a financial game plan in place, he can anticipate staying the investment course with the remaining $2.9 million he is expected to earn for the 12 games he will be eligible to play,” Vlasic said.
There you go… Let’s see what happens on Monday.