Skip to content

Agent: Insuring Crosby contract could cost up to $400,000 — per month

Sep 19, 2012, 1:36 PM EST

Sidney Crosby AP

If Sidney Crosby wants to play overseas during the lockout, it’s going to take a lot of cash.

According to agent Pat Brisson (who appeared on Sportsnet’s Fan590 Wednesday afternoon), the amount of money to insure Crosby’s contract with the Pittsburgh Penguins could be staggering — up to $400,000 per month.

Oh, and Brisson says that’s only to cover part of the deal.

Crosby inked a 12-year, $104.4 million extension with the Penguins at the end of June, the largest payout in franchise history. The deal was huge, but became even larger in scope given Crosby’s concussion history and the fact he’s missed 101 games over the last two seasons.

Of course, discussions about insuring Crosby’s contract are nothing new.

Back in early June, CBC’s Elliotte Friedman wrote a piece about how “highly unlikely” it was that any deal would be insured against concussions, and the ramifications and risk involved:

Talking to five NHL executives, I asked each one the same question: “If you said to your owner, ‘I’ve completed a 10-year, $90-million deal with Sidney Crosby, but we can’t insure it,’ what would he say?”

All of them thought about it for a couple of seconds and then said some variation of, “He’d do it.” Although, the assistant added: “I’d like to see you ask an owner this question.” I’m working on it.

“He’s [Crosby],” said one GM. “You know, it’s a risk, but it’s a risk you take. I’m sure his injuries are a sensitive subject, but the Penguins have the medical reports. They know him better than anyone else.”

Noted a second GM: “If you don’t do it, someone else is going to.”

Added a third GM: “If you sign him to this deal and he gets hurt in two years, you’re going to look stupid. But if you don’t, he plays the next 10 years like he can and goes down as one of the best ever, you’re going to look even more stupid.”

So, questions:

– Would Crosby be willing to cover part of his insurance costs?

– If not, would any European team be willing to buck up? Shelling out such an astronomical amount in insurance fees seems crazy but, at the same time, it’s Sidney Crosby.

Opportunities to get him wearing your team’s sweater are few and far between, and there’s no telling what his presence would do for public exposure and brand recognition (and other fancy marketing jargon, like impact awareness.)

– What happens if the lockout drags on for months and no team is willing to bite the financial bullet? The AHL isn’t an option and the rumored barnstrom/caravan leagues are probably way too risky.

  1. mpg44 - Sep 19, 2012 at 1:54 PM

    What did you expect concussion boy!!

  2. bmscalise - Sep 19, 2012 at 2:07 PM

    Sid took far less than market value, however big his contract is. I have no doubt that this extra expense was part of the discussion – and part of the reason (outside of the cap) that the deal is really reasonable for a player of his stature. The contract is an example of when two parties genuinely work together to find a middle-ground good for everyone.

    • stakex - Sep 19, 2012 at 3:07 PM

      Actually thats not really true.

      Like Crosby or not, you cannot deny that his market value has been hurt over the last two years by his concussion issues, and then when he did come back last season he failed to score goals like he was in the year before he was first hurt. This despite the fact he was playing with the hottest offense in the league (which helped to inflate his assist numbers as well btw). Throw in the fact that his contract might not be insured…. and no one is going to pay him to the limit, and hes actually lucky to get what he got.

      • bmscalise - Sep 19, 2012 at 4:06 PM

        Please: Zach Parise got a $100 million dollar contract. There isn’t a team in the league who wouldn’t have paid that for Sid, and more.

        And incidentally – Sid’s numbers last year were inflated? The dude was playing on a line with Steve Sullivan (a 35 yr old who refuses to shoot the puck) and Pascal Dupuis (who has managed 20 goals exactly twice in 10+ seasons). The worst decision the Pens made last year was forcing him to play on what was essentially a 3rd line with 3rd-line caliber wings. And he still put up over a point a game – walking in to a stretch run without playing in a year. Your comment is just inane.

  3. sampulls - Sep 19, 2012 at 10:05 PM

    Stakex is insane.

  4. mrknowitallmtl - Sep 19, 2012 at 10:07 PM

    Sindey’s best bet would be to stay put. I am pretty sure there will be a couple guys in other leagues who would love to be the guy to take him out for good. Stay put n stay safe sindney

Featured video

Next steps for the Oilers after Eakins

Sign up for Fantasy hockey

Top 10 NHL Player Searches
  1. S. Crosby (4111)
  2. D. Krejci (2878)
  3. C. Crawford (2634)
  4. J. Toews (2224)
  5. C. Kunitz (2214)
  1. B. Bishop (2139)
  2. O. Palat (1972)
  3. C. Perry (1936)
  4. B. Elliott (1681)
  5. J. Boychuk (1561)