Caleb Williams has just signed his rookie contract with the Chicago Bears, marking the end of what turned out to be a pretty lengthy negotiation process. What was the holdup, you ask? Well, it turns out Williams and his reps were making some pretty unusual requests that slowed things down.
Williams, who’s been actively participating in rookie and team activities, finally put pen to paper on a four-year, $39 million deal with the Bears earlier this week. You might be wondering what took so long. According to Pro Football Talk, Williams’ camp had some rather unconventional ideas about how his contract should be structured.
One of the most intriguing—if not downright bizarre—requests was for his contract to be paid through an LLC or to have it set up as a forgivable loan. Now, you might be wondering, what exactly does that mean? Here’s the scoop: if the deal were paid through an LLC, Williams would avoid paying income taxes to the state of Illinois. Why? Because LLCs don’t have income tax filing requirements in Illinois. On the other hand, setting up the contract as a forgivable loan would mean Williams wouldn't have to pay taxes on the amount until the loan was forgiven, which could be up to 10 years down the road.
Sounds like a brilliant move, right? That’s exactly what Williams’ team thought. They took their requests to the NFL, hoping to make it work. However, the NFL wasn’t having it. They rejected the idea, stating that Williams’ money couldn’t go to a business entity other than himself. They didn’t offer a specific reason for nixing the forgivable loan setup, but it’s clear that they weren’t ready to bend the rules for this one.
Honestly, it’s hard to blame Williams for trying. Taxes are a pain, and if there’s any way to legally avoid paying them, who wouldn’t want to explore that option? Williams’ camp showed a lot of creativity in their approach, and while no other player has made such a request before, I wouldn’t be surprised if we see similar proposals from future rookies. It’s a testament to their forward-thinking approach and determination to get the best deal possible.
Just imagine the quirky twist of hearing a Sunday Night Football intro where Caleb Williams is introduced as “Caleb Williams, LLC.” That would definitely be a first and a pretty funny addition to the broadcast!
In the end, Williams has signed his contract, and the focus can now shift back to what he’ll bring to the field. With the business side of things settled, Bears fans are eagerly anticipating what this young star will add to the team. Whether it’s his impressive skill set, his ability to lead, or simply his fresh energy, there’s no denying that Caleb Williams is a name to watch in the NFL.
Login