Jun 30, 2012, 10:52 AM EDT
Sidney Crosby‘s monster contract extension of 12-years, $104 million didn’t come without some questions. One of the biggest was how the Pittsburgh Penguins would be able to get such a huge deal for a guy with concussion problems insured. Turns out it may not be possible.
Rob Rossi of the Pittsburgh Tribune-Review reports the Penguins may not get Crosby’s new deal covered by insurance, meaning they’re on the hook for big bucks no matter what.
Crosby, 24, has missed all but 63 games the past two seasons because of concussion symptoms. He and the Penguins agreed to a 12-year contract worth $104.4 million — all of it guaranteed. The team will present the contract to the league Sunday for approval.
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.
That would be quite a bit of money virtually flushed away. Good thing for the Penguins they’re now playing in a new arena and they’re a team that brings in a lot of cash as it is thanks to ticket sales and merchandise. That means should Crosby wind up getting hurt again and put his career in doubt, his contract won’t bankrupt the team.
Rossi also reports Crosby’s deal will be more front-loaded so as to pay him up sooner rather than later. It’s best to get more of that cash out of the way now than have it waiting to be paid later. The future can be murky that way and Crosby’s best years are more likely to happen now than ten years down the road.
- Hamilton signs six-year deal with Flames 13
- Sharks get Jones from Bruins for first-round pick and unsigned prospect 35
- Hurricanes to buy out Semin 14
- Bruins are talking to teams about Savard, but not Rask 6
- Report: Richards part of police investigation 42
- UFA of the Day: Mike Green 4
- Agent: Franson has spoken with ‘half a dozen’ teams (Updated) 8
- Your 2015 HHOF Class: Fedorov, Housley, Lidstrom, Pronger, Ruggiero 39
- Trade: Flyers send Rinaldo to Bruins for 2017 third-rounder 104
- Bypassing a buyout? Kings terminate Richards’ contract for ‘material breach’ 89
- Trade: Flyers send Rinaldo to Bruins for 2017 third-rounder (104)
- Bypassing a buyout? Kings terminate Richards’ contract for ‘material breach’ (89)
- Trade: Flames land Dougie Hamilton for package of picks (75)
- Trade: Busy Bruins send Lucic to Kings (66)
- Consensus reached: 5 minutes of 3-on-3 OT could be in place for 2015-16 (60)