4 Free-Agent Pickups Teams Needed Insurance for
The world of sports is no stranger to insurance. With many of our salespeople actively participating in or coaching sports, McDougall Insurance is no stranger to sports either. And there are insurance products available to professional teams and players, generally to replace lost income in the event of an injury.
But as a fan of professional sports, you may wish that your team had a different kind of insurance, the type that would pay if your front office invests a bunch of money into a free agent that doesn’t pan out. So here are the 4 contract signings professional teams needed insurance for.
The Dallas Stars Sign Sean Avery for About $1,000,000 per Game
Sean Avery burst onto the NHL scene in 2007, when he was traded to the New York Rangers where he developed a reputation for being the worst instigator in the NHL, who also had the soft hands and ability to score a decent amount of points.
But it was his antics, not his goal-scoring ability, that brought him the most publicity. Sean was constantly focused on by the media, and apparently so good at annoying opponents that it would affect their game.
The Dallas Stars liked what they saw, and decided the at times immature and peevish Sean would be a great person to invest in for the future – so they signed him to a 4 year, $15.5 million deal.
Sean promptly disintegrated into a heap of rude crazy, being disliked by his teammates in Dallas and describing the girlfriend of an opposing player in a very negative light. He was quickly suspended by the NHL, and released by Stars. Total production for Dallas: 3 goals, 10 points and 23 games.
Claim Payout: At least $10 million for lost income and damage due to negative publicity. Also maybe a healthy Brenden Morrow, who tore his ACL that season.
The New York Yankees Did Well Short, Lost Long with A-Rod
When the Yankees originally traded for Alex Rodriguez, they got a spectacular (and apparently chemically enhanced) player who won two American League MVPs and dominated the baseball scene with his incredible hitting.
However, when the star opted out of his contract in 2007 to get money, the Yankees resigned an entirely different player. His 10 year, $275 million contract would keep him swinging for the Yankees until he was 42, but it certainly appears this will not be the case.
Since the signing he has not won another MVP, has seen his statistical production drop precipitously, and has dealt with a parade of injuries that have made him baseballs most expensive bench player.
Oh, and then there’s that whole steroid thing.
Claim Payout: A huge sum of money (not like the Yankees are really hurting for cash, but still). Alternatively, they could Force the Redsox to sell the Yankees Babe Ruth Again.
Gilbert Arenas gets signed by the Washington Wizards
What should you do if a player suffers a crippling ACL/MCL Injury and only plays in 8 games during the last season? If you answered “Sign him to a max value contract”, you have the same thought process as the Washington Wizards management and I’m very worried about you.
Despite Gilbert’s injury, the Wizards signed the guard to a 6 year, $111 million contract, but not before caving into Gilbert’s demands that they resign his friend Antawn Jamison, to whom they paid $50 million.
As is so common in these list entries, Gilbert immediately proved he was not responsible enough to handle the wealth, bringing a firearm into his locker-room and generally playing the worst basketball of his career. Gilbert also never started more then 40% of Washington’s games in the regular season, and was eventually traded to Orlando.
Claim Payout: $70 million and maybe Michael Jordan, not from when he played for Washington but from when he played for Chigaco.
Albert Haynesworth Fails at Conditioning – After Biggest Contact in History
You would think that the most lucrative defensive contract in history would be enough motivation for you to stay in shape right? Albert Haynesworth had $100,000,000 reasons to show up to training camp in shape after being signed in free agency by the Washington Redskins back in 2009, but decided it wasn’t worth it.
Albert famously failed his conditioning test that all players must complete to be medically cleared to play, and followed that performance up by playing some of the most uninspired football ever caught on film.
As a player who once stomped another’s face during a game, there were already red flags regarding Albert’s character, but Washington was able to look past that in the hopes of having this 6’6 behemoth tackling opposing players.
Albert played just two seasons for Washington, before being traded to the New England Patriots, and being knocked out of the league entirely by the end of 2012. What a big headache.
Claim Payout: Nothing, since Washington already has all it needs with the acquisition of Robert Griffin The Third.