Wow!!
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Wow!!
bargain if he stays healthy
Hope the Pens were smart and it's not guaranteed.
I could be wrong, but I thought all NHL contracts were guaranteed, unless a player is bought out, at which point 2/3 of the remaining value is paid out over 2x the remaining term (for the most part, some contracts aren't quite like this - I think Emery's was different when Ottawa bought him out.)
The real question for the Pens then becomes - is it insured? I heard that could be an issue...
Crosby and the Pens must both be stoked at this , but 12 yrs is a long time to stay healthy in the NHL , there must be a clause in there somewhere about concussions :scratchch
I think the discount is already built in to this contract. To sign Crosby for anything less than 10 million per year is indicative of that.
Believe that the contract is guaranteed (he will get the money), but there is salary cap relief in the event he can not play. Also, in these cases, often the team may take out insurance on the contract.
the contract is 12 x 8.7M. Crosby was born on 8/8/87 and wears 87. I'd imagine thought it is front loaded like most.
With Crosby's history of concussions, I would be surprised if there are any insurers who would take on the contract...if they do, the premiums would be so high that it may be cheaper to self insure.Quote:
Originally Posted by Shreen
I am surprised at the long length of this contract.....Crosby is only one or more concussions from a career ender. Lindros, Primeau, Kariya, etc.
Dave
The price was right but agree with you guys that this is very high risk because of his concussion history. Even the team doctors likely cringed when they heard it's a 12 yr deal. But if Crosby is concussion free imagine how nice that contract will look 5-6 years down the road?
They do have a bit of an out re: LTI but for sure would rather not have to play this card.
If a player has a legitimate long-term injury, his cap hit is still counted; however, the team is permitted to replace him with one or more players whose combined salary is equal to or less than that of the injured player, even if the additional players would put the team over the salary cap (if the team's cap room is larger than the injured player's cap hit, they may take on as much as their cap room); however, the injured player may not return to play until the team is again compliant with the original cap. All salaries still count towards the league-wide share of revenue that the players receive.
Concussions could ruin NHL teams if insurers pull coverage
That's an interesting article.
Ask yourself (if you were the insurer): how much would you charge to insure Sid's contract against concussion?
I'd say the chances are almost %100 that he misses minimum one year of the 12 due to injury.
Coaches are getting concussions in the NHL for god's sake.