Sidney Crosby to sign $100M deal. HOLY CRAP

[evolver115]

100M?
they pretty much already did

just didn't come with an actual deed

This is true.

 

[Forty_Sixand2]

I mean......if you were an insurance company, would you insure that contract?


I wouldn't.....until the federal government stepped in and forced me to

 

[evolver115]

I mean......if you were an insurance company, would you insure that contract?


I wouldn't.....until the federal government stepped in and forced me to

As per the article SBB posted, the top six contracts for every NHL team are required to be insured, but cannot exceed more than 7 years.

It's really no different than what Backstrom has with the Caps when you think about it. What's that term... something like 12 years, or so @ $70 million? Nick takes one more crack to the head, and this same situation we're discussing about Sid could be compared to Backstrom.

 

[Bizzle McDizzle]

I mean......if you were an insurance company, would you insure that contract?


I wouldn't.....until the federal government stepped in and forced me to

IT'S FUNNY BECAUSE ITS TOPICAL!!!

 

[Forty_Sixand2]

Backstrom did not have the injury before the contract though, so I am sure it was easier to insure.

 

[evolver115]

Backstrom did not have the injury before the contract though, so I am sure it was easier to insure.

Any sports franchise that is willing to pony up for a deal in excess of 8 years and over 50 million more than likely accepts that there is some inherent risk to go with it.

New TV contract, new building revenue, season ticket waiting list in excess of 5,000, local TV ratings at the tops of the league. And to top it all off, Ron Burkle is rated as the 112th richest American. Forbes estimates his net worth in excess of 2.3 billion. If he and ownership were not comfortable with this, they wouldn't have offered Crosby the deal.

As an aside; the Penguins ownership group reaps the majority of revenue for every event that takes place in Consol. Also, there are plans to develop the Civic Arena site for commercial and residential opportunities.

 

[Forty_Sixand2]

I never said the contract was bad or risky (quite the contrary, in fact), I said that if I was LoL I would probably not insure it.

 

[evolver115]

I never said the contract was bad or risky (quite the contrary, in fact), I said that if I was LoL I would probably not insure it.

-from the Trib article-

Insurance companies offer teams protection against career-ending injuries, but Crosby’s concussion history is considered a pre-existing condition. If Crosby cannot finish his contract because of a concussion-related injury, he will still be paid in full, but the Penguins would not receive assistance from an insurance policy on the deal, sources said.

However, this will not cripple the franchise like the ailing health of current majority co-owner Mario Lemieux did in the 1990s, a sports business expert said.

“It’s so different now for the Penguins. They’ve got a sold-out new arena, a better TV deal, big sponsorship and deeper-pocketed ownership,” said Lynn Lashbrook, president of Portland, Ore.-based Sports Management World Wide. “The Penguins can withstand this even if Crosby can’t play out the majority of this contract.”

Doesn't sound like the insurance company would be on the hook for it, anyways. If that's the case, I see no reason why they wouldn't insure it.

 

[Forty_Sixand2]

We are talking in circles and saying the same thing. I read the article. I was commenting that I understood why the insurance company had the concussion opt out.

 

[evolver115]

Then why would you have reservations about insuring the contract? You said just a few posts ago that if you were the insurance company, you wouldn't insure it.

 

[Forty_Sixand2]

Then why would you have reservations about insuring the contract? You said just a few posts ago that if you were the insurance company, you wouldn't insure it.

Forget it........

 

[evolver115]

ok....


I mean, if there is an opt out for the insurer to protect them from any pre-existing conditions, what makes insuring Sid's deal different from any other long term deal? They won't be on the hook for it if he suffers the 'dreaded' career ending concussion.

 

[Forty_Sixand2]

I

AM

SAYING

THAT

I

AGREE

WITH

THE

OPT OUT!!!!!

THAT IS ALL


WTF!!!!


READ WHAT I POST, FOR CHRIST'S SAKE!!!!

 

[evolver115]

I mean......if you were an insurance company, would you insure that contract?


I wouldn't.....until the federal government stepped in and forced me to

I

AM

SAYING

THAT

I

AGREE

WITH

THE

OPT OUT!!!!!

THAT IS ALL


WTF!!!!


READ WHAT I POST, FOR CHRIST'S SAKE!!!!

Damn 6. chill out. No need to get hostile

I quoted the post I was confused about. Am I reading it wrong? Did you mean something other than what you typed?

 

[grayghost668]

oh boy,,,I need popcorn,,,,,,I'll be back

 

[Forty_Sixand2]

my point was "of course they had an opt out clause, would you insure that contract otherwise"

It was in response to the post above and maybe the inference was not clear.

 

[grayghost668]

please continue

 

[evolver115]

my point was "of course they had an opt out clause, would you insure that contract otherwise"

It was in response to the post above and maybe the inference was not clear.

Quite clear, now. I figured that was what you meant. It just didn't read that way from the initial post.

Peace and luv

 

[pixburgher66]

So, Colby Armstrong just got bought out. HE AND SID ARE BEST FRIENNNNDS! SIGN THE COLBY!!! <---Nostalgic Pittsburghers.


**As an aside, I'd do it if it's really cheap. Like...really really cheap.**

 

[Forty_Sixand2]

no worries