University buying players Insurance

[Codaxx]

How Texas A&M paid nearly $60,000 to get Cedric Ogbuehi back for 2014 | FOX Sports on MSN

Pretty interesting story. It is just so ripe for abuse. Oddly seems to fly in the face of the fact that Universities claim student athletes are not employees and, therefore, not eligible for workers comp.

 

[yeodonie]

Yeah this can of worms should never have been opened

 

[redseat]

College insurance pays for squat!

But that doesn't mean a University should pay for it and I am hoping this leads to sanctions.

 

[Codaxx]

Yeah this can of worms should never have been opened

You can argue either way. This should be done for all athletes or none. Plus you really can not insure the loss from going from a top 10 pick to a 3rd rnd pick

 

[HuskerinBig10]

Not shocked by the news at all. We now know the fund is set at $350,000 for SEC schools, but I am sure that will rise in the near future.

I agree, this goes right in the face of the athletes are not employees argument.

Corporate Owned Life Insurance Policies

Obama Tax Proposal Zooms in on COLI Policies - Top News - InsuranceNewsNet.com

COLI is a reliable way of funding ongoing employee benefits. Executive, or key person, COLI policies cover the lives of top executives to insure against losing the expertise, knowledge and contacts of top managers that could have a significant financial impact for companies. Broad-based COLI (aka “janitors policies” or “dead peasants insurance”) insure rank-and-file workers. The investment component of these policies allows companies to earn tax-deferred returns while the employee is still alive.


https://www.legalzoom.com/articles/...death-corporate-owned-life-insurance-policies

 

[BTHOtu]

Cool thing is that I don't need to go to texags or aggieathletics.com for any news. Just come to the hoop and a longhorn will post all things A&M. Well, not all things, just things that can be spun.

 

[Codaxx]

Cool thing is that I don't need to go to texags or aggieathletics.com for any news. Just come to the hoop and a longhorn will post all things A&M. Well, not all things, just things that can be spun.

Heard it on the radio. You hear a lot of Texas and A&M news on sports radio here. Please notice the comments did not mention A&M. They did nothing wrong. I was intentially trying to keep this from becoming a Texas/A&M thing. I just found the practice to be odd. Universities can not give athletes workers compensation, but they can buy insurance to help a star come back.