Jan. 2, 1965 - Joe Namath, son of a struggling Beaver Falls, Pa., steelworker, today signed the contract that made him the richest rookie in the history of pro football — and probably any other sport.
The Horatio Alger story of the former shoeshine boy who led Alabama to the national college championship was climaxed at a luxury hotel at Miami Beach. There, Namath concluded a deal with the New York Jets of the AFL that will reportedly bring him $400,000 for three years’ work.
This is said to include $100,000 a year in salary and some $100,000 in bonuses. There also were unconfirmed reports of a fringe benefit retirement plan, giving Namath $5,000 a year for life after his playing days.
Sonny Werblin, president of the Jets, said details of the contract were considered privileged information but added that “I’m sure it pays the largest amount ever given to a young athlete in any sport.”
The cat-quick Namath, he said, was a bargain at the price.
“We feel that in getting Joe,” Werblin told a news conference, “we got the No. 1 college football player in America and, with him, we will give New York fans the finest football team in America. This is the start toward many championship years for the Jets.”
Namath disclosed the Jets and the Cardinals, who drafted him in the NFL, made “about the same” offers.
“I took both teams into consideration,” said the 6-2, 194-pound quarterback. “I wanted more than money. I was interested in the coach and the organization.
“New York City is a fine place. The sports fans are great, and Weeb Ewbank is an outstanding coach.”
Ewbank was beaming as he announced the signing of the quarterback he believes has all the potential of Johnny Unitas.
“I see in this young man the same qualities that are found in Unitas,” Ewbank said. “He has size, quickness, a wonderful arm, a quick delivery, courage, and the ability to make the big play.
“We say in the pros that it takes three or more years to make a quarterback out of a college boy, but it won’t take that long for Joe. There are veteran pros who can’t react the way he does right now. He has reactions a lot of quarterbacks could never learn.”
There had been talk that Namath had received a fancy pink automobile as part of his deal with the Jets.
“That’s wrong,” Namath told reporters today with a grin. “It’s green — jet green.”
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