[USML Announce] Rights to Reclaim FAAB -- Issue #1

[Jim Barrett]

I would support option 2 but if option 1 is accepted by the group then I think we also need to add a provision allowing the losing owner to void the trade.  I'd draft a provision now but am running late.  If someone else wants to take a shot, fine. Otherwise I'll try to draft something over the next few days.
 
"Robbins, Richard" <rrobbins at Sidley.com> wrote:

Here are two versions of the insert to Section 14.6 to address the first issue raised by Jeff yesterday afternoon. 

The first version limits the ability to claim FAAB to the League team that actually has the player on its roster when the NL trade takes place.  This would preclude a team that had done a trade for the player earlier in the reporting period from getting the FAAB money.  The second version would give effect to the USML trade so long as the trade is announced to the league generally.

Version 1: 

The right to have funds added to a team's FAAB is limited to the League team on whose roster the player appears when the player is traded to the National League.

Version 2: 

The right to have funds added to a team's FAAB is limited to the League team on whose roster the player appears when the player is traded to the National League, provided, that for the limited purpose of this Section 14.6, a trade between League teams shall be given effect as of the time that the trade is generally announced to the League.

Do these alternatives seem to frame the issue properly?  If not, please suggest revisions. 

Assuming that the alternatives at least frame the issue properly, I will support the second version. 

I hope that somebody will keep track of league sentiment on this issue and let us know what the tally is. 

I hope that Jeff or someone else will draft text to accompany the other issue Jeff raised -- don't assume that I will get around to it.

-- Rich 

Sidley Austin Brown & Wood LLP mail server made the following annotations on 02/10/2004, 09:41:46 AM
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