Ricky Romero and Insurance Money

[TDotttt2005]

News came out yesterday about Ricky having knee surgery and missing the rest of the season. If this were a Red Sox or Yankees board, I wouldn't be posting this, since this is basically a nickels and dimes question...but given the fact that AA had to pass the hat around to potentially sign Ervin Santana, I believe the question is valid, and could mean the difference between acquiring certain players at the deadline, or not acquiring them due to monetary concerns on Rogers' end. Does anyone know if Insurance covers Ricky's contract this season, and if we can get a portion of that salary back? He's making $7.5mil. Since theres more than half of the season left, could the JAys recoup ~$4M and stick that to Lloyds of London, or whomever insures this stuff??? Anyone familiar with how this stuff works?

[BTS]

I'm almost positive that he's not insured.

[TheHurl]

News came out yesterday about Ricky having knee surgery and missing the rest of the season. If this were a Red Sox or Yankees board, I wouldn't be posting this, since this is basically a nickels and dimes question...but given the fact that AA had to pass the hat around to potentially sign Ervin Santana, I believe the question is valid, and could mean the difference between acquiring certain players at the deadline, or not acquiring them due to monetary concerns on Rogers' end. Does anyone know if Insurance covers Ricky's contract this season, and if we can get a portion of that salary back? He's making $7.5mil. Since theres more than half of the season left, could the JAys recoup ~$4M and stick that to Lloyds of London, or whomever insures this stuff??? Anyone familiar with how this stuff works?

 

These days usually teams only insure $100M+ contracts. I'll see if I can find the link of a great article on the costs of it and what gets paid out (it's not as much as you'd think)

[TDotttt2005]

Hmm, you both may be right about Ricky not being insured, and $100M+ only being the ones worth insuring... but I've also read recent articles of players being gone for half a season or a bit over that and that portion being insured, and that was on a sub-50M total deal. Either way, its an interesting question, and probably nothing that Beeston or AA would speak to.

[flafson]

Even the huge contracts that are insured have clauses in them saying you need to miss X amount of time and then only Y amount of money is covered.

[connorp]

Either way porky RR is getting PAID. Probably going to rehab appointments in his Ferrari. Lucky bastard...lol...hope he's sending AA Xmas cards (maybe that's trolling though)

 

joking... he actually seems like a good guy and sincere competitor, probably tears him up that he sucks now

[Angrioter]

I have contact with players agents (Matty Alou), and according to these agencies, the insurance companies only insure the big contracts and big names.

Most small contracts only use insurance law, and that kind of insurance just covering a little portion of money.