Rob Carr/Getty ImagesThe hardest hit that Ray Rice will be absorbing in the near future is most likely going to be to his wallet.
The now former Baltimore Ravens star was released from his contract this week after a video supposedly never before seen by NFL officials ended up online and showed just how vicious his attack on his then-fiancee and now-wife Janay Palmer in an elevator six months ago really was. Previously seen video of him dragging Janay out of the elevator, which led to both of them being arrested, had resulted in a two-game suspension. Assault charges filed against Rice were dropped after he agreed to attend a domestic violence intervention program.
Fast-forward to now. Or, even more telling, next year. What price punishment?
Forbes had Rice as the 33rd-highest-paid athlete in pro sports in 2013 thanks to the five-year, $40 million contract he signed with the Ravens in 2012. That $40 million encompasses the $17 million he earned in 2012, $15 million of which came from his signing bonus, as well as the 2013 option bonus he collected worth $7 million.
The financial publication estimated that Rice earned, in 2013, $24.2 million in salary and bonuses and $1.6 million in endorsements from the likes of Nike, which cut ties with Rice today.
But while he will not be getting the $10 million in salary he had left on his contract, Rice stands to lose something that could have proved far more valuable over the course of his life.
In addition to the $10 million, Rice "has lost his annuity that he probably would have received for the rest of his life as an NFL Super Bowl-winning running back," Kurt Badenhausen of Forbes tells E! News. "There is a value to that where you can go to every autograph show and get paid for appearances, which is easy money, and a personable guy like Ray Rice had that coming to him after he retired. Potentially that income of $500,000 to $1 million a year every year for the rest of his life is gone. I think that is the big blow in addition to the $10 million in salary."
It's unclear whether Rice really has lost what has accrued so far of his annuity, which NFL players are eligible for after their fourth season in the league, and which starts as a payment of $65,000 at age 35 or five years after a player's last credited season, whichever comes later. Interest also accrues over the years.
Rice, who attended Rutgers University, was a second-round selection for the Ravens in the 2008 NFL Draft.
While some super-star athletes make the majority of their millions from endorsements rather than on the field, court, ice or pitch, Rice was "not a Tom Brady, he isn't a long-term multimillion-dollar investment," says Ryan Schinman, CEO of talent broker Platinum Rye, which brokers deals with Hollywood celebs, athletes, recording artists, models and other famous figures for ads and publicity appearances.
"There is no way his endorsement deals were in the seven figures," Schinman told E! News. "I'd bet between 50,000 and 300,000 [dollars]." He estimated that Rice's NFL money makes up 90 percent of his revenue.
And could Rice end up owing money after this debacle?
"Because some endorsement deals pay a percentage up front, normally 25 percent to 50 percent, was Ray already paid? Will the brands have to sue to get the money back? Are there moral clauses based on felony charges, convictions?" the Platinum Rye exec continued. "Also, many deals are tied to field performance, and since he is now suspended from the NFL he won't be playing, he won't be performing."
"Reality is," Schinman added, "from an endorsement standpoint, you can't touch him, he's finished. Given the graphic nature of the video captured, for Ray, time will not heal all wounds."
But even though this seems like an irrevocable screw-up for Rice—whose actions prompted the NFL to change after the fact its previously rather stomach-churning tolerance for domestic violence incidents and may ultimately lead to the end of Roger Goodell's term as commissioner—we're reminded that you can't necessarily count any athlete out (while he's still physically able to contribute to a team's win percentage, that is).
If another team ever took a risk and signed him again, "he'd be lucky to get a million bucks," Badenhausen said. However, he added, "Michael Vick had an incredible comeback. Nobody saw it coming, but he came back and signed with the Eagles for a very small deal and then went and signed a massive extension with the Eagles for $80 million."
Speaking to reporters for the first time since his contract was terminated and he was suspended indefinitely from the NFL, Rice told ESPN today, "I have to be strong for my wife. She is so strong... We are in good spirits. We have a lot of people praying for us and we'll continue to support each other...I have to be there for [Janay] and my family right now and work through this."