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Jones and the Giants on Tuesday grinded out an agreement on a four-year deal worth $160 million, with Jones able to earn an additional $35 million in incentives. Jones is guaranteed $82 million over the first two years of the contract and a total of $94 million is practically guaranteed. His salary cap hit in 2023 should come in around $18.5 million — a much more manageable number than the $32.4 million the franchise tag would have cost the Giants.

NEW YORK – The clock struck midnight, and the NHL turned into another sports league closed for business. Unable to reach agreement on a new labor deal, the National Hockey League locked out its players at 12:01 a.m. Sunday, the third major pro sport to impose a work stoppage in the last 18 months, behind the NFL and NBA. The action also marks the fourth shutdown for the NHL since 1992, including a year-long dispute that forced the cancellation of the entire 2004-05 season when the league successfully held out for a salary cap. That fight ended with the latest...

Michael Crabtree celebrated his 22nd birthday Monday. As an unwanted gift, multiple reports surfaced that the 49ers are poised to drop their offer to the No. 10 overall pick out of Texas Tech. Citing team sources, Michael Silver of Yahoo! Sports wrote that Crabtree's continued absence makes him less valuable to the 49ers on a prorated basis and added, "Translation: The team just reduced its offer and will continue to do so with each passing week." A day earlier, Jay Glazer of Fox Sports reported that the 49ers sent a letter to Crabtree "modifying" their offer. Responding to the Fox...

President Obama's Wall Street salary cap may be well intentioned and it certainly taps into public sentiment, but it's a killer for New York. "Without the talent of Wall Street to bring us back into a position of leadership in the global economy, we're going to be in bad shape as a world economic power," said Kathryn Wilde of the Partnership for New York. Wylde says the Obama salary cap will lead to a critical brain drain – China and the United Arab Emirates have already come to poach Wall Street talent. She also says lower salaries in the financial...

So figure this one out. Recently the Obama administration has put pressure on private companies to curtail lavish spending due to the economic crisis, and because some of those companies were receiving federal bailout funds. For example, Wells Fargo was pressured into canceling a planned trip to Las Vegas for their mortgage employees that performed well last year. They have also pressured companies into not buying new planes, paying bonuses to management, canceling employee retreats, etc. Then today Obama announced that those banks that have taken Federal bailout dollars had to put a salary cap in place for their CEO’s,...

“The men of the past were called Robber Barons… The ones who dreamt of cornering the Gold Market, or monopolizing silver, or even of paying 450 million in bonuses to 400 people who caused a company to collapse — that last example coming from the ancient history that was… yesterday. But in our fifth story tonight, financial treason so injurious to the nation that it makes a beggar out of language, and an angry President out of a heretofore almost imperturbable new chief. 18 billion in bonuses for Wall Street last year… the year you and I gave Wall Street…billions...

A fight between NFL owners and players was simmering already, but it flared into the open not long ago when the federal judge who has presided over 15 years of labor peace invited union officials into his private chambers for coffee and conversation and left NFL owners and their lawyers waiting in the courtroom. It happened 30 minutes before the judge, David Doty of Minneapolis, began a hearing on Nov. 30 to determine whether to allow disgraced NFL quarterback Michael Vick to keep his bonuses. In papers filed in court after Doty ruled in Vick's favor, the NFL and its...

Houston's Bob McNair, an owner of one of the NFL's high-revenue franchises, said yesterday the dispute between the owners over revenue-sharing pales in comparison to the chasm between the league and the NFL Players Association on talks to extend the collective bargaining agreement, which is a year from expiration. "The collective bargaining agreement is more in the hands of the Players Association and their willingness to be reasonable," McNair said. "No agreement is better than a bad agreement." McNair pooh-poohed the idea reported earlier this week that he and such fellow high-revenue owners as Washington's Dan Snyder would sue if...

TORONTO -- The NHL and the NHL Players' Association have agreed on a salary-cap system, eliminating the biggest stumbling block to the resumption of play next season, the Toronto Globe and Mail reported on its Web site Wednesday. The paper reported that a source close to the owners, and another close to both owners and players, said there would be a team-by-team salary cap, based on a percentage of the revenue of each franchise. In what is believed to be a six-year agreement, based on revenue projections by both sides, the salary cap will range from $34 million to $36...

The NHL intends to reject the players' association's latest proposal and counter with one "consistent with our mandate," NHL executive vice president Bill Daly wrote in a Dec. 12 memorandum to all 30 member clubs. The memo was obtained by The Sports Network of Canada. The league has been seeking a system of "cost containment" throughout talks with the union on a new collective bargaining agreement. The players' association regards any connection between revenues and salaries as a salary cap and a non-starter in negotiations. While the memo does not detail what the NHL's proposal will contain, Daly writes that...