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DeSean Jackson has to pay Drew Rosenhaus more than $500,000

Drew RosenhausWashington Redskins wide receiver DeSean Jackson was ordered to pay his former agent, Drew Rosenhaus, more than half a million dollars on Wednesday. Rosenhaus filed a grievance last year alleging that Jackson owed him $700,000 after the two parted ways.

A source told The Philadelphia Inquirer that Jackson, who ending up signing with Joel Segal after rumors that he would join Jay-Z’s Roc Nation Sports, will have to pay Rosenhaus $516,415 in loans and fees. Arbitrator Roger Kaplan announced that the ruling had gone in Rosenhaus’ favor on Tuesday.

Rosenhaus negotiated the five-year, $48 million contract Jackson signed with the Philadelphia Eagles in March 2012. A report last year said that Jackson took multiple loans from Rosenhaus since he hired him in November 2009.

Terrell Owens suing Drew Rosenhaus

Terrell-Owens-Media-Created-Character-IssuesWhen all else fails, just sue your agent. That appears to be the plan Terrell Owens has in place at the moment, as he is suing agent Drew Rosenhaus and his brother Jason Rosenhaus.

According to Rand Getlin of Yahoo! Sports, Owens is suing the Rosenhaus brothers for breach of fiduciary duty, fraud and negligence. He is seeking to recover up to $6.5 million by contending that Rosenhaus introduced him to financial advisor Jeff Rubin, who allegedly lost millions of Owens’ money.

The lawsuit alleges that the now-banned Rubin had several red flags surrounding his name that Rosenhaus failed to warn TO about. Owens claims that Rubin lost him $5 million in bad investments and cost him another $1.5 million in money that could have been made if it was invested in property.

“Terrell trusted Rosenhaus when he recommended that Terrell hire Rubin as his financial adviser,” Owens’ attorneys, Curtis Carlson and Chase Carlson of Miami-based Carlson & Lewittes, P.A said. “It is completely ridiculous that Rosenhaus would refer a five-time Pro Bowler to a financial advisor who has been accused of stealing from his clients in the past, whose college degree was in Exercise Science, and who was inexperienced. Rosenhaus should have steered Terrell away from Rubin, not toward him.”

Rubin was banned from working in the financial industry by the Financial Industry Regulatory Authority in 2012 for steering a number of clients toward a failed Alabama casino project. The project lost more than $40 million and received investments from 32 current and former NFL players — 18 of which were one-time Rosenhaus clients.

Detailed claims that TO and his attorney have laid out against Rosenhaus can be read here. The 39-year-old Owens has been dealing with a number of financial issues over the past several years, including missed child support payments. He has tried to return to the NFL with very little luck, only coming close with the Seattle Seahawks last summer.

Drew Rosenhaus says DeSean Jackson owes him $700,000

Drew RosenhausDrew Rosenhaus has filed a grievance with the NFL Players Association, alleging that Philadelphia Eagles wide receiver DeSean Jackson owes him $700,000, Yahoo! Sports reports.

When the story came out on Sunday that Jackson and Rosenhaus were parting ways, there was speculation that the receiver wanted to join Jay-Z’s sports management company. That may still be the case, but it seems like the money issue between the two is the reason for the split.

According to Yahoo!’s Rand Getlin and Charles Robinson, Rosenhaus says Jackson took multiple loans from him from the time he was hired in November 2009 to March 2012. This information is consistent with what has been reported since 2011 concerning Jackson’s finances.

Jackson signed a five-year, $51 million contract last year, though all of the guaranteed money will be paid out after this season. He reportedly has already had some problems with new Eagles coach Chip Kelly and was demoted to second and third string at times during the team’s recent workouts.

DeSean Jackson parts ways with Drew Rosenhaus, may hire Jay-Z

DeSean JacksonDeSean Jackson has parted ways with agent Drew Rosenhaus, and reports say he may hire Jay-Z’s Roc Nation Sports to represent him in the future.

According to Philly Mag’s Tim McManus, Jackson and Rosenhaus are splitting “in part over money.” Rosenhaus reportedly believes that Jackson owes him money. A 2011 report said that Jackson owed a lot of money to Rosenhaus, so it could be more of the same issue.

The Philly Inquirer’s Jeff McLane says Jackson has to wait five days after he files paperwork with the players’ union before he can talk to new agents. McLane reports that Jackson could sign with Jay-Z’s company, which also recently signed New York Jets second-round pick Geno Smith. USA Today Sports’ Mike Garafolo takes that report a step further, saying Jackson “would like to” hire Jay-Z’s agency, in part because of the wide receiver’s interest in developing his Jaccpot Records music label.

CSN Philly’s Geoff Mosher reports that Rosenhaus is trying to resolve the situation before Jackson finds a new agent.

Jackson is entering his sixth season in the league and already will be on his third agent. He was represented by DeBartolo Sports as a rookie and signed a four-year, $3.4 million deal after being selected in the second round in 2008. Jackson changed agents in November, 2009, amid his second straight strong season in the league. He hired Rosenhaus with the intention of getting a new contract to replace his rookie deal.

Jackson played out his existing rookie deal and struggled in 2011, mostly because of issues related to his contract. There were questions about his lack of effort that season. People believed he was intentionally avoiding contact to ensure he didn’t get hurt before his opportunity to sign a new deal. He later apologized for his poor season, and the team placed a franchise tag on him for the 2012 season. The two sides then reached agreement on a five-year, $51 million contract.

The issue with Jackson’s contract is that most of his money is guaranteed for the first two years. He earned $11 million last year ($10 million was his signing bonus), and he is set to earn $7 million this year. After that, it will cost about $11 million annually for the Eagles to bring him back from 2014-2016 (full contract details here), so they might find that to be too expensive.

Denise White of EAG Management said on Sunday night that Jackson was not entertaining any new agents or agencies at present.

Rob Gronkowski joked he was firing Drew Rosenhaus to hire Jay-Z

Rob GronkowskiRob Gronkowski may be in and out of the operating room this offseason, but the series of surgeries hasn’t led to the New England Patriots tight end losing his sense of humor.

Gronk underwent a fourth surgery on his twice-broken, infected forearm last week. He’s also set to undergo back surgery soon. Despite the surgeries, Gronk is still cracking jokes.

During an interview with ESPN’s “SportsCenter” on Thursday, Gronk’s agent, Drew Rosenhaus, said his client joked about firing him to hire Jay-Z after waking up from surgery.

“Typical Rob. As soon as he woke up, he joked, ‘Hey, I’m firing you.’ I said, ‘What?’ He said, ‘Yeah, I’m letting you go. I’m going to hire Jay-Z,’ ” recalled Rosenhaus.

“He was joking with me. That’s the great Rob Gronkowski. Immediately after surgery in the recovery room he’s cracking jokes about letting me go as his agent. He’s one of a kind. Nothing’s going to slow this guy down. He’s a ton of fun to represent and an amazing client.”

Rosenhaus is describing Gronkowski’s upcoming back surgery as minor and says they decided it was a good time to get it done since the tight end is already out with a forearm injury. Rosenhaus believes the forearm is a a bigger concern than the back injury.

Rosenhaus, who often speaks glowingly about his clients, says the forearm surgery “could not have gone any better.” He also does not think the surgeries will hinder Gronk’s career.

“I just think he’s going to have a very long, Hall of Fame career, and I don’t anticipate this difficult stretch that he’s had to be a long-term factor for him,” Rosenhaus told SportsCenter.

Gronk led the league with 17 touchdown catches two seasons ago. He has 38 touchdown catches in three seasons and is on his way to a Hall of Fame career as long as he can continue to play.

LeSean McCoy Fires Drew Rosenhaus Again, Looking for New Deal

While Michael Vick gets most of the attention when talking about the Eagles offense, Philadelphia has an equally important player who lines up behind Vick.  LeSean McCoy has quietly become on the the best running backs in the NFL.  Like many other young running backs in the league, he is underpaid and making only around $500,000 in base salary this season and next.  Naturally, McCoy wants an extension and a lot more money.

Reports have surfaced that indicate McCoy and the Eagles are currently negotiating a long-term deal, but apparently the talks are taking place without agent Drew Rosenhaus.  According to Jason La Canfora of the NFL Network, McCoy fired Rosenhaus this week for the second time in about a month.  Last month, McCoy ended his relationship with the self-proclaimed super agent but Rosenhaus apparently gave him a good enough sales pitch to bring him back on board.

The interesting thing about this situation is that Rosenhaus also represents DeSean Jackson, who has been candid about wanting a new deal with the Eagles as well and even accused of shying away from contact because of it.  Philadelphia only has so much money to go around, and McCoy and Jackson will undoubtedly be looking to become two of the highest paid players at their respective positions.  That could very well have something to do with McCoy’s decision to part ways with Rosenhaus, who will have a tough time getting both players a huge payday from the same team.

Between the possibility of Jackson being advised to give less than 100 percent to protect himself and the Terrell Owens era in Philly that may have strained the Rosenhaus-Eagles relationship, McCoy may have had enough.

Drew Rosenhaus Says the NFL Would Fall Apart Without Him

Even the most casual fans of the NFL have probably heard the name Drew Rosenhaus at one point or another. Like Scott Boras with baseball, Rosenhaus is the super agent of the NFL. Think of your favorite NFL player and there’s a decent chance Rosenhaus represents him.

With that in mind, it is safe to say there would be quite the league-wide shakeup if Rosenhaus were to bow out of the business. We just don’t need to hear it from him.

“I really believe that the NFL would fall apart without me,” Rosenhaus told 60 Minutes according to the Orlando Sentinel. “That may sound cocky, that may sound arrogant, but I am telling you the truth.”

He then went on to discuss the reasons why NFL players need him. “When it breaks down between the team and the player, the agent is there to pick up those pieces. If a guy says, ‘I want to be traded; I hate this team. I hate this coach.’ I say to the player, ‘Tell me, don’t tell the coach. I don’t want you to ruin your relationship with the team. Come to me.’”

In many senses, the egotistical super agent is right.  If he woke up one morning and decided he was done with the NFL, there would be a lot of players who needed to scramble to find new representation.  That being said, it would be naive to think there isn’t another Drew Rosenhaus out there in the country waiting for an opportunity. It’s the NFL — there is no falling apart as we saw with the lockout.  If Drew can find a team to sign Terrell Owens when he’s ready to return, I might alter my stance.