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.
- PHT Morning Skate: Two top scoring duos collide in Ducks vs. Stars 0
- Pressing Question: Can the Sharks get over past playoff hurdles? 4
- 2014 Stanley Cup Playoffs: PHT’s Round 1 picks 15
- Pressing Question: Can the Blackhawks avoid the Stanley Cup hangover? 8
- Florida wins ’14 NHL draft lottery, will pick first overall 37
- Philly mum on Mason’s availability for Game 1 vs. Rangers 26
- Pressing question: Can the Blues get back on track? 16
- That’s a raise: Flyers sign MacDonald to six-year, $30 million extension 91
- Sabres, Panthers have best odds for 2014 NHL draft lottery 16
- Leafs ‘lack an identity,’ says Leiweke 30
- That’s a raise: Flyers sign MacDonald to six-year, $30 million extension (91)
- Lightning’s Malone arrested for DUI, cocaine possession (73)
- Update: Daniel Sedin in stable condition, hospitalized after scary hit (58)
- Halak’s agent ‘bewildered’ by Oates’ remarks prior to Blues game (51)
- Here’s the schedule for the first round of the 2014 playoffs (51)