Report: Janoris Jenkins, Rams at odds over financial advisor

[Guard]

http://profootballtalk.nbcsports.com/20 ... l-advisor/

Report: Janoris Jenkins, Rams at odds over financial advisor

Posted by Josh Alper on July 5, 2012, 5:41 PM EDT


Rams cornerback Janoris Jenkins dropped to the second round of the draft because of character concerns and now his NFL career has reportedly gotten off to a shaky start.

Jason Cole of Yahoo! Sports reports that Jenkins and the team are at odds about who will financially advise Jenkins and that the issue stands in the way of Jenkins signing a contract. According to the report, Rams coach Jeff Fisher spoke to Jenkins’ agent Malik Shareef during the draft and made him promise to hire a financial advisor to help Jenkins manage his money. Such an agreement is against the rules of the CBA, something the Rams do not dispute, but Cole’s sources say that Fisher is still adamant that Jenkins work with Lou Taylor of Tri Star Sports & Entertainment Group.

Jenkins reportedly signed papers with the company, but Taylor said that Jenkins was not a client before hanging up the phone when reached for comment. Sources told Cole that Jenkins signed the papers to placate the team and that he is now unhappy with the terms of his agreement with her.

Jenkins has fathered four children with three different women and a fourth woman is now claiming he fathered her child as well. Taking care of those financial responsibilities is something that Jenkins has had to deal with already (via a bank loan) and it is going to be an ongoing part of his life.

While the Rams are right to want that taken care of in a way that doesn’t disrupt Jenkins’ football career, mandating which person is charged with helping him take care of his bills is out of bounds. Per the report, both sides want to take care of this without any legal action and the easiest way to do that would be for the Rams to drop the alleged demand about a particular advisor while taking other measures to contractually protect themselves from any future issues with Jenkins.

 

[-X-]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

Interesting. I don't know how cool I would be if someone thrust a financial adviser on me either, but it certainly is a reasonable protection clause. Maybe they can let Jenkins interview several candidates provided by the Rams and let him decide which one he'd like?

 

[-X-]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

Sources: Rams, Janoris Jenkins in contract dispute over the rookie's financial advisory

http://sports.yahoo.com/news/nfl--sourc ... sory-.html

The relationship between St. Louis Rams rookie cornerback Janoris Jenkins and the team is off to a rocky start because of a verbal pre-draft agreement that's impermissible according to terms of the collective bargaining agreement.

Janoris Jenkins catches a ball during rookie minicamp. (AP)Jenkins, who played his final college season at North Alabama after being dismissed by Florida, and the Rams have yet to agree on a contract. Aside from typical issues regarding the payment of signing bonus money (the Rams want a significant deferral over the four years of the deal), there is a dispute over who will financially advise Jenkins.

Rams coach Jeff Fisher, according to four sources familiar with the situation, wants Lou Taylor of Tri Star Sports & Entertainment Group to advise Jenkins. The second-round pick, projected by some evaluators as a top 10 talent, has signed at least one set of documents with Taylor's company, a copy of which has been obtained by Yahoo! Sports, although Taylor strongly denied last week that she is working with Jenkins.

"I do not work for Janoris Jenkins," said Taylor, who twice hung up on conversations with Yahoo! Sports and sent a text message threatening to inform the NFL Players Association that she was questioned about Jenkins.

During April's NFL draft, Fisher made Jenkins' agent, Malik Shareef, promise that Jenkins would hire a business manager to help Jenkins navigate his personal issues, which include fathering four children with three women. There is a fourth woman who is claiming she has another child with Jenkins.

However, according to last year's CBA, the pre-draft understanding between the Rams and Jenkins' camp is not allowed and is "unheard of," according to an NFLPA source.

The league and NFLPA have since contacted the Rams over the matter. A Rams source said last week: "We know there can't be any pre-conditions to the contract."

Jeff Fisher (AP)Yet, according to the sources, Fisher remains insistent that his recommended advisor manages Jenkins' finances. However, both sides hope to reach a resolution that doesn't involve some form of legal action by the NFLPA.

Leading up to the draft, Jenkins already had a team of people working with him, including Shareef, Army staff sergeant Sandy Cornelio and a financial advisor with Merrill Lynch. Jenkins has taken out a bank loan and said in March that he used much of the money to bring his child-support payments up to date.

Jenkins, who has not returned messages regarding Taylor and the Rams, seemed content with his management team prior to the draft. Subsequently, he has grown increasingly unhappy with being forced to use Taylor, who two sources said is planning to charge him $120,000 over four years for her services. The duties would include managing the child-support payments and placing him on a budget.

Taylor has worked with many high-profile clients, including Fisher and Britney Spears. She was also fired by Lindsay Lohan in October. [hil]The relationship between Taylor and Fisher seems touchy to Jenkins because he wonders if Taylor would relay personal information to the coach.[/hil]

Two sources said Jenkins signed documents with Taylor merely as a way of placating the Rams. Jenkins also asked an NFL representative at the league's rookie symposium about whether the team could force him to choose an advisor.

Cornelio said on several occasions that he is not seeking payment from Jenkins, who he has known since Jenkins was at Pahokee (Fla.) High School. Merrill Lynch works on a percentage basis but multiple rates fees could be included in accordance with company rules.

The Rams, according to three of the sources, have raised concerns about how many people are involved in Jenkins' finances and privately question the effectiveness of Cornelio and Merrill Lynch, particularly in light of Jenkins' history at Florida. Aside from the numerous children, Jenkins was kicked out of the school after being arrested for marijuana possession twice in a three-month period.

Although Jenkins' issues contributed to him falling to No. 39 overall, he hasn't had any more drug issues or children since working more closely with Cornelio. Among other things, Cornelio said in March that he regularly drug tests Jenkins.

Though the two sides have not revealed a ballpark range for negotiations, the No. 39 pick in last year's draft, Akeem Ayres, signed a four-year, $4.9 million contract with the Titans that included a $2 million signing bonus.

 

[brokeu91]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

This just feels like it could get messy. I hope they work this out. But, I do agree that Jenkins should have a financial adviser, and one that makes sure he's saving money and getting money to his kids.

 

[Selassie I]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

If I was Jenkins,,, I'd demand a night with Spears and Lohan (at the same time of course) before I signed. No problemo after that.

 

[bluecoconuts]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

Sounds like he's mostly worried about his privacy, which I can understand. Although I'm not sure why he can't get his own, and then have the team approve of his choice (meaning he can't go and pick his old high school buddy)....

Hopefully that gets worked out sooner rather than later.

 

[Angry Ram]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

If he's not in by day 2 of camp, then I'll start worrying.

 

[Guard]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

The thing is, Merrill Lynch is not going to be worried about making sure that all of his baby mommas get their money on time, and Merrill Lynch isn't going to advise him not to sink $10 Million bucks into a house, and one for his mom, and Merrill Lynch isn't going to advise him that he shouldn't go buy all that swag, and bling, and a tricked out Escalade with spinners.

Their are financial advisers and then there are financial advisers who know how to be handlers. I think that is what the Rams concern is that he needs someone to be more intimately engaged.

And for me, Merrill Lynch's track record is like taking your money and going to a scrip club and making it rain... same result.

 

[Anonymous]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

Sounds like he's mostly worried about his privacy, which I can understand. Although I'm not sure why he can't get his own, and then have the team approve of his choice (meaning he can't go and pick his old high school buddy)....

Hopefully that gets worked out sooner rather than later.

He wants to go with the guys he already has.

Rams are wary of that.

 

[BuiltRamTough]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

If he's not in by day 2 of camp, then I'll start worrying.

Ya who gives a shit it's just business,the money Jenkins is going to get is not enough but I mean buy that his going to put the work in for a solid 3 years to get a exentsion his going to be a stud trust me

 

[raised_fisT]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

The thing is, Merrill Lynch is not going to be worried about making sure that all of his baby mommas get their money on time, and Merrill Lynch isn't going to advise him not to sink $10 Million bucks into a house, and one for his mom, and Merrill Lynch isn't going to advise him that he shouldn't go buy all that swag, and bling, and a tricked out Escalade with spinners.

Their are financial advisers and then there are financial advisers who know how to be handlers. I think that is what the Rams concern is that he needs someone to be more intimately engaged.

And for me, Merrill Lynch's track record is like taking your money and going to a scrip club and making it rain... same result.

Wow. :shifty:

 

[brokeu91]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

Sounds like he's mostly worried about his privacy, which I can understand. Although I'm not sure why he can't get his own, and then have the team approve of his choice (meaning he can't go and pick his old high school buddy)....

Hopefully that gets worked out sooner rather than later.

I get the feeling that Fisher is reliving some experiences he had with Pacman and wants to prevent it. Fisher does have the experience as a head coach, including successfully coaching some knuckleheads (like Pacman and Haynesworth) that he just wants to prevent a pattern of behavior from developing before it starts.

I think he believes that it starts with having someone who has no knowledge of money or finances suddenly come into a lot of money. You see it in many times in people who never had money before that suddenly get rich, ie athelets, people winning the lottery, etc. In that regard, I actually support Fisher's decision, but in reality, it is Jenkin's money and he can spend it how he wishes, whether that ends up being foolishly spent or soundly invested/saved.

 

[-X-]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

[textarea]Jenkins, who has not returned messages regarding Taylor and the Rams, seemed content with his management team prior to the draft. Subsequently, he has grown increasingly unhappy with being forced to use Taylor, who two sources said is planning to charge him $120,000 over four years for her services. The duties would include managing the child-support payments and placing him on a budget.[/textarea]
Yeah, this is stepping over the boundaries of being a Coach; and I understand Fisher's concerns, but this isn't right. If the plan includes paying someone $30K a year to manage child support payments and being subjected to someone else determining your discretionary spending, then I can see how Jenkins would be averse to that. Hell, I'll be his financial adviser for half of that.

For starters, $30K a year would probably cover the child support on a couple of those kids. He should maybe see if he can pay the child support up front annually or even reach a settlement agreement with the Mothers for the remaining years he's indebted before it gets adjusted again.

 

[Thordaddy]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

Sounds like he's mostly worried about his privacy, which I can understand. Although I'm not sure why he can't get his own, and then have the team approve of his choice (meaning he can't go and pick his old high school buddy)....

Hopefully that gets worked out sooner rather than later.

I get the feeling that Fisher is reliving some experiences he had with Pacman and wants to prevent it. Fisher does have the experience as a head coach, including successfully coaching some knuckleheads (like Pacman and Haynesworth) that he just wants to prevent a pattern of behavior from developing before it starts.

I think he believes that it starts with having someone who has no knowledge of money or finances suddenly come into a lot of money. You see it in many times in people who never had money before that suddenly get rich, ie athelets, people winning the lottery, etc. In that regard, I actually support Fisher's decision, but in reality, it is Jenkin's money and he can spend it how he wishes, whether that ends up being foolishly spent or soundly invested/saved.

IF it is REALLY WHO the "advisor" is because he's worried that personal information would be desseminated to Fisher ,THAT can be taken care of in his contract with the advisor.
If strict privacy is a condition of the advisors fiduciary responsibilties AND she breaks that confidentiality, all her fees could become forfeit plus punnitve damages,Jenkins agent KNOWS that.
I smell an agent who gets a fee for steering clients or wants to be the financial advisor himself.

Failing all else if I were negotiating for the Rams I'd offer a contract with no signing bonus and at a flat rate per year.

Whether the "deal" was "legal" under the CBA or not ,if Jernkins and his agent are not willing to go with the spirit of the agreement, to me there's no reason the Rams shouldn't play hard ball

 

[Anonymous]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

[textarea]Jenkins, who has not returned messages regarding Taylor and the Rams, seemed content with his management team prior to the draft. Subsequently, he has grown increasingly unhappy with being forced to use Taylor, who two sources said is planning to charge him $120,000 over four years for her services. The duties would include managing the child-support payments and placing him on a budget.[/textarea]
Yeah, this is stepping over the boundaries of being a Coach; and I understand Fisher's concerns, but this isn't right. If the plan includes paying someone $30K a year to manage child support payments and being subjected to someone else determining your discretionary spending, then I can see how Jenkins would be averse to that. Hell, I'll be his financial adviser for half of that.

For starters, $30K a year would probably cover the child support on a couple of those kids. He should maybe see if he can pay the child support up front annually or even reach a settlement agreement with the Mothers for the remaining years he's indebted before it gets adjusted again.

They're being paternalistic and breaking CBA rules. Nevertheless, they do know who his presumed advisors are, and don't like them as such.

I think the Rams line on this is that they had a verbal agreement. They knew it was illegal when they made it, but it was part of a private, under the table "or we don't draft you" arrangement.

http://sports.yahoo.com/news/nfl--s...the-second-rounder-s-financial-advisory-.html

Leading up to the draft, Jenkins already had a team of people working with him, including [his agent] Shareef, [old family friend[ Army staff sergeant Sandy Cornelio and a financial advisor with Merrill Lynch. Jenkins has taken out a bank loan and said in March that he used much of the money to bring his child-support payments up to date.

...

Cornelio said on several occasions that he is not seeking payment from Jenkins, who he has known since Jenkins was at Pahokee (Fla.) High School. Merrill Lynch works on a percentage basis but multiple rates fees could be included in accordance with company rules.

The Rams, according to three of the sources, have raised concerns about how many people are involved in Jenkins' finances and privately question the effectiveness of Cornelio and Merrill Lynch, particularly in light of Jenkins' history at Florida.

Here's a post I found relevant:

Guard

The thing is, Merrill Lynch is not going to be worried about making sure that all of his baby mommas get their money on time, and Merrill Lynch isn't going to advise him not to sink $10 Million bucks into a house, and one for his mom, and Merrill Lynch isn't going to advise him that he shouldn't go buy all that swag, and bling, and a tricked out Escalade with spinners.

Their are financial advisers and then there are financial advisers who know how to be handlers. I think that is what the Rams concern is that he needs someone to be more intimately engaged.

And for me, Merrill Lynch's track record is like taking your money and going to a strip club and making it rain... same result.

 

[Thordaddy]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

[textarea]Jenkins, who has not returned messages regarding Taylor and the Rams, seemed content with his management team prior to the draft. Subsequently, he has grown increasingly unhappy with being forced to use Taylor, who two sources said is planning to charge him $120,000 over four years for her services. The duties would include managing the child-support payments and placing him on a budget.[/textarea]
Yeah, this is stepping over the boundaries of being a Coach; and I understand Fisher's concerns, but this isn't right. If the plan includes paying someone $30K a year to manage child support payments and being subjected to someone else determining your discretionary spending, then I can see how Jenkins would be averse to that. Hell, I'll be his financial adviser for half of that.

For starters, $30K a year would probably cover the child support on a couple of those kids. He should maybe see if he can pay the child support up front annually or even reach a settlement agreement with the Mothers for the remaining years he's indebted before it gets adjusted again.

Well I beg to differ, it's not at all out of line morally to basicly have an extension of the "conduct clause" of an employees contract RECONIZE the FACT that the employee has demonstrated through their actions that their responsibility/judgement is somewhat suspect.
That being a PRE arrived at mutual understanding for Jenkins to recoil at the idea NOW after the fact whether the thing is legal or not is basically a violation of trust and/or reliance ,which is actually an arguable point of legal contention for the Rams.

Understood the CBA establishes this as an OOB contract feature but it DOES NOT establish right and wrong,that is between Jenkins and the Rams.
If the cost is a stumbling block the Rams could pick up the tab,but the ignorance of the CBA feature to me is just gotcha ,kings ex ,crossed fingers behind the back stuff.
To me if Jenkins wants to honor the spirit of the original agreement he's honorable,if he isn't he isn't.

Jenkins needs to own his past ,I've had several employees who came to work for me and been great UNTIL the child support people caught up with them ,THEN I HAD to collect the money FOR the court,which of course made ME the bad guy and the employee's attitude degenerated towards me because I was forced to be the collection agency.
Fisher is NOT out to meddle nor violate the guy's privacy but acting as if Jenkins isn't absolutely covered with red flags is naive,the attempt to insulate the Rams from the personal problems Jenkins has repeatedly manifest AS a precondition to drafting him was NOT a cause UNTIL now .

Basically this is a ,is your handshake any good? issue to me.
And then IF it isn't, don't ask me to trust you.

 

[-X-]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

By Dan Hanzus | Writer
Published: July 5, 2012
http://www.nfl.com/news/story/09000d5d8 ... in-dispute

Janoris Jenkins, St. Louis Rams reportedly in dispute

Janoris Jenkins, no stranger to controversy during his college days, is finding more drama in the NFL.

Jason Cole of Yahoo! Sports reported Thursday that Jenkins is at odds with the St. Louis Rams over a verbal pre-draft agreement that's impermissible according to terms of the collective bargaining agreement.

Before taking Jenkins in the second round of April's draft, Rams coach Jeff Fisher made the player's agent, Malik Shareef, promise that his client would hire a business manager to help him navigate his personal issues. Jenkins -- who finished his collegiate career at North Alabama after being dismissed by Florida -- has four children by three women, with another paternity battle apparently closing in.

Via four sources, Yahoo! reported Fisher specified Lou Taylor of Tri Star Sports & Entertainment Group to advise Jenkins. Taylor denied being employed by Jenkins, though Yahoo! has obtained a document tying the player to the company.

The pre-draft conversation between Fisher and Jenkins' agent is "unheard of," according to an NFL Players Association source, and against the rules of the CBA. The league and NFLPA have contacted the Rams over the matter.

It gets more complicated. Jenkins reportedly only agreed to work with Taylor to placate the Rams. He has balked at the price of Taylor's services -- $120,000 over four years -- and [hil]reached out to an NFL representative at the rookie symposium to ask if the team could force him to choose an advisor.[/hil]

That answer, of course, is no. Fisher's aggressive actions to put Jenkins on the right path might have landed the Rams in hot water.

 

[Thordaddy]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

Wait ,I was going to say something inflammatory. I'll be back.

OK ,first , Fisher /Snead obviously need to know more about the parameters of the new CBA.
I'm no stranger to being ignorant of rules, coaches are often caught with their laundry showing on arcane issues.

So first one has to ask, was Fisher reasonable? ,well IMO he was, the league has measures for people who have tested positive for drugs etc going forward , acting as if you are ignorant of red flags is ......ignorant IMO.

Second was Jenkins willing to accept the conditions ? or was his agent ready to play gotcha with the Rams? Not clear, if he was as unaware of whata team can andcan't do IMO he's culpable since THAT'S ALL HE DOES.

Regardless,the Rams drafted him with that proviso SO AS to eliminate exactly this sort of problem with him.
IMO we trade him for WHATEVER and let the problem be someone else's . I have little doubt this won't be the last time JJ is a problem to his employer.

NOT UP IN HERE

 

[Ram Quixote]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

I think the Rams were hoping to encourage Jenkins to confront his issues, as a mature adult with multiple children would. Relying on a young 20-something, who has continually behaved as if responsibility is something for later, sounds naive at the moment. Jenkins has instead chosen to skirt around his personal word and seek advice outside the Rams, which has now put him at odds with Fisher, who may or may not be adamant about who he wants as Jenkins financial advisor.

There are deep pitfalls when expectations of help are left to people who's intent is merely peripheral aid and advice, and not hands-on help, especially when one doesn't really seem to understand the concept of responsibility.

Jenkins may know how to play football, but it appears he needs tough love in his life, and not people telling him what he wants to hear.

 

[Thordaddy]

Re: Report: Janoris Jenkins, Rams at odds over financial adv

I think the Rams were hoping to encourage Jenkins to confront his issues, as a mature adult with multiple children would. Relying on a young 20-something, who has continually behaved as if responsibility is something for later, sounds naive at the moment. Jenkins has instead chosen to skirt around his personal word and seek advice outside the Rams, which has now put him at odds with Fisher, who may or may not be adamant about who he wants as Jenkins financial advisor.

There are deep pitfalls when expectations of help are left to people who's intent is merely peripheral aid and advice, and not hands-on help, especially when one doesn't really seem to understand the concept of responsibility.

Jenkins may know how to play football, but it appears he needs tough love in his life, and not people telling him what he wants to hear.

I'm beginning to spell Janoris................ Lawrence and Jenkins ...............Phillips.

Nice try JF but the light bulb has to want to change