I'm a dolphins fan, and this really isn't great news.
He's probably going to declare bankruptcy, which would wind up hurting the 'phins even more, since they would essentially lose his rights (although who would want to trade for him now?)
Here's an excerpt from the miami herald online:
The Dolphins might win the right to collect $8.6 million from retired running back Ricky Williams, but lose the rights to him in the process.
A Miami bankruptcy attorney and a former agent both said Thursday that if Williams were to file bankruptcy he could become a free agent, and the Dolphins could end up with nothing from Williams but a small percentage of the $8.6 million the Dolphins are seeking. Miami would be unable to keep him on the team or even trade him in the future.
Miami attorney Jim Fierberg went so far as to call the strategy ``brilliant.''
''It's a pretty fascinating way for him to get free agency,'' Fierberg said. ``I like that idea, but it's not without risk.''
The risk is that Williams might lose all assets except one of his Florida homes. But he might lose that anyway if the Dolphins get the right to seize his assets.
Scott Helfand, a former agent who once represented Dolphins punter Reggie Roby, went so far as to suggest the idea to Bruce Tollner, one of Williams' agents.
''I talked to Bruce [Wednesday night] and, when I told him, he was shocked,'' said Helfand, who used the idea of a bankruptcy filing in 1993 to encourage the Dolphins to cut Roby. ``He said he was going to call [the NFL Players Association] right away.''
-Matt