Classy Seahawks sign draft pick before having to cut him due to heart condition

[Dapper Dan]

...
Seattle Seahawks waived offensive tackle Garrett Scott with the non-football illness designation.

Scott, during a physical with the team, was found to have a rare heart condition that will keep him from playing, the Seahawks said. Scott played in college at Marshall.

...
There's a silver lining. The Seahawks found out about Scott's condition before signing him but the team signed him to his contract anyway, then waived him. That means Scott receives his signing bonus and first-year salary totaling about $555,000, according to Bob Condotta of the Seattle Times.

http://sports.yahoo.com/blogs/nfl-shutdown-corner/classy-seahawks-sign-draft-pick-before-having-to-cut-him-due-to-heart-condition-234534881.html

[Pudge]

http://sports.yahoo.com/blogs/nfl-shutdown-corner/classy-seahawks-sign-draft-pick-before-having-to-cut-him-due-to-heart-condition-234534881.html

That was a cool thing to do

[BroncoWave]

Makes you wonder how his college doctors missed that.

[Dzone]

Nice gesture if they did that intentionally. $555,000 is pretty nice. If he is smart, he could invest it and live off it the rest of his life

[BroncoWave]

Nice gesture if they did that intentionally. $555,000 is pretty nice. If he is smart, he could invest it and live off it the rest of his life

I dunno, that's a nice chunk of change, but you'd have to invest it REALLY well for it to set you for life. Especially considering taxes will eat up a nice chunk of that. Granted it's a moot point since anyone who has played sports at the major college or pro level is pretty much set on connections to get a good job in the sports industry.

[Simple Jaded]

You're probably talking about $300.000, he can buy a house, pay off some student loans and live modestly off his college education.

[Shazam!]

I'm sure my standard of living would be very nice if I had half a mill.

[Dapper Dan]

What NFLPA benefits will he get? If he doesn't get any, that won't even cover his medical bills.

[aberdien]

This makes losing to the Hawks less terrible considering they seem to have a bit of class as an organization.

[Tned]

I dunno, that's a nice chunk of change, but you'd have to invest it REALLY well for it to set you for life. Especially considering taxes will eat up a nice chunk of that. Granted it's a moot point since anyone who has played sports at the major college or pro level is pretty much set on connections to get a good job in the sports industry.

Yea, while nothing to shake a stick at, because very few people other than pro-athletes ever see that kind of money, it is far from retirement money. After taxes, it will be $320,000 give or take. Then, I remember a few years ago I was reading through some retirement planning forums. A lot of the discussion was about people either retired or about to. Anyway, the generally accepted rule of thumb was that if you had savings, you could take out 4% a year, and then the remainder should grow, on average over a long period of time, maybe at 6-7%, with the difference then allowing for inflation ($10 today, won't buy you $10 of food, energy, etc. in 10 or 20 years).

So, that $320,000 would net him about $12,800 a year. If he was 60 or 70, then eating into some of the principal each year might be an option, but at 22 or so, that's not the ideal.

Nice chunk of change, but not exactly set for life money.