Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, July 18, 1990 TAG: 9007180077
SECTION: SPORTS PAGE: B5 EDITION: METRO
SOURCE: Associated Press
DATELINE: KIRKLAND, WASH. LENGTH: Medium
The man known as "The Boz" was supposed to be a modern-day Dick Butkus for the Seattle Seahawks. Instead, he was a major failure because of injuries.
Bosworth, a linebacker who signed a 10-year, $11 million contract after he was chosen first in the 1987 supplemental draft, was waived Tuesday by the Seahawks.
He failed a physical examination because of an injury to his right shoulder, club officials said. Team doctor Pierce Scranton had examined Bosworth on Monday.
Bosworth, 25, a two-time All-America selection at Oklahoma, is not expected to be signed by another NFL team because of his ailing shoulders.
There has been confusion about the details of Bosworth's contract, which was negotiated by former Seahawks general manager Mike McCormack and Bosworth's New York-based agent, Gary Wichard.
It was reported this week that Bosworth could collect $7.3 million of the $9.8 million remaining on his contract tax free.
The report said documents showed that in 1987, the year Bosworth signed his contract, $75,000 of his $300,000 salary was deducted so the Seahawks could act as the agent in buying an insurance policy that guaranteed him $8.5 million in base salaries through 1996.
A source said Bosworth paid taxes on the $75,000. Because his money was used to buy the policy, he can collect any resulting payments as distributions free from income taxes, the report said.
Internal Revenue Service Publication 17 states that disability payments from insurance for which an employer paid are taxable, while payments from jointly purchased insurance are subject to tax only on the proceeds from the employer's payments.
Since the Seahawks used only Bosworth's money to purchase the insurance with Lloyd's of London, payments to replace as much as $7.3 million in salary would be exempt from taxes.
Bosworth still would have to pay taxes on a $2.5 million signing bonus that was deferred, and on $65,000 he would get this year in injury compensation under the NFL's collective bargaining agreement.
His contract escalates from $600,000 this year to $700,000 next year and $1.4 million in 1996. Bosworth collected $1.2 million in salary the past three seasons and will receive the first $500,000 installment of his guaranteed signing bonus in 1997. The bonus was funded by an annuity purchased by the Seahawks.
"Brian Bosworth had tremendous potential as a professional football player coming out of college," said coach Chuck Knox, whose Seahawks open training camp Thursday. "Unfortunately for him, injuries have prevented him from realizing his full capabilities. We wish him the best."
Tom Flores, Seattle's president and general manager, said: "Naturally, it's a disappointment to lose a player of Brian's quality. After more than one physical examination, our medical department could not pass him.
"I've said all along that he's got injury protection. That was all negotiated originally in his contract."
Wichard was unavailable for comment, but he had said Bosworth's contract was fully guaranteed.
Bosworth has not talked to the media in Seattle since late in the 1988 season. He slipped in and out of town without any fanfare. He is in Mississippi to make a movie, "The Brotherhood," in which he plays an undercover narcotics agent. Wichard has said Bosworth wants to pursue an acting career.
"He was disappointed, like all of us were," Flores said of Bosworth. "It's sad when a kid comes out of college with a great career and then can't play any more."
Keywords:
FOOTBALL
by CNB