Interesting tidbit on escrow requirements
Quote:
Kevin Sheehan on Twitter
(1of 2) So on the “escrow” requirement for the Payne deal.
@SalaryCap101 just told me the review for 2023 escrow requirements just took place on Jan 31st 2023.
Deadline to fund is end of this month on March 31st.
But because the Payne deal came after this yrs review date…
(2 of 2) ….his deal won’t be reviewed for escrow purposes until the next review date which is Jan 31st, 2024.
So, whatever portion of the gtd $60M hasn’t been paid as of next year, that amt will be will be put into escrow.
Translation, the next owner 🤞will fund it.
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03-12-2023, 05:44 PM
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