Where is there any definitive information on the contract stipulations on Tmac's famed insurance policy? Feigen says this : McGrady's contract is huge ($22.5 million next season) and then it expires. Until he plays, insurance can take care of the cost through sometime next February. And teams all know this. http://blogs.chron.com/nba/ But I have never heard of a insurance policy that pays per game. The premiums for that would be huge since it's almost guaranteed that the player will miss some games. Charlie Palilo agrees with me in this reply to my question to him: I doubt they'll mail us a copy. The typical policy does not pay per game missed. Maybe it has a half season provision or something. CP http://www.790thesportsanimal.com/pages/charliepalliloblog.html Can anyone confirm Feigen's take from another source? Or quote where any NBA player ever had a per game insurance policy.
ROFLMAO at asking Charlie Pallilo about Insurance policies.....I mean come on...what would he know about them? DD
As much as you. It's a legitimate sports question since any team even considering trade talks would have that as question #1. And, I assume the details are leaked out there somewhere since any team considering trading for Tmac would make that question #1, even before his medical prognosis.
I would ask an Insurance person, not a radio host. Or believe Feigen because he got it from the Rockets....CP would have no clue whatsoever. DD
ROFLMAO an insurance person? an agent? an underwriter? Who even writes these kinds of policies? If the real facts are out there it will be a sports reporter that will report it. Feigens reference seems equivocal to me. And I've never heard of a per game policy before. I would rather have a point by point explanation of the policy like any GM would get (and maybe pass on to a Sports Reporter to justify the deal to his home crowd)
After 2 years of inactivity a players contract can be waived, if that player is in the last year of his contract and hasnt played in a year the rest of the contract can be waived. Wasnt Tmac's last game in February?
I do not get the impression from Feigen's comments that the insurance is based upon a per game basis. I think the insurance is similar to other disability policies. I believe the insurance kicks in when it is medically determined that a player cannot play for a certain period of time. I do not know what that time period is, and while it is probably subject to negotiation, it is probably relatively standard. The insurance ends when the player is medically cleared to play in a game or the underlying contract ends. Since McGrady is currently expected to be able to play in February, the insurance payments are expected to end at that time.
Wow u guys seriously hate Tracy McGrady..... Why would he come back and play hard for you ... Hes not but for the team How did he break his leg trying to win and trying to help the team.... you all forget 13 points 35 seconds.... He tried his hardest when Yao went down 2008 playoffs... He was alone i guarantee we would be champions if he woulddnt of broke his leg... Big news for you McHaters Daryl Morey said himself hes not trading Tracy McGrady and if he would it would be right before ddeadline thats only if Tracy comes back playing Garbage which i never seen Tracy play bad... If you did please show me This is Tracy team
I get the impression that his comments are a smoke screen, part of a bait and switch deal and in fact, he may not even be willingly complicit. It's just good ol' American marketing. I think that because I've never heard of a per game policy before and it seems illogical to me that anyone would write that. Tmac's game checks next year will be something like a quarter of a million per. If you are the insurance company, what's your over/under on now many games Tmac will play in 2010 ? (Remember you would have had to predict the number over a year ago) I'll guess ... 60. That would make the break even value of the policy five million, and you know you want a premium to that so you charge,what? six million? Knowing that just stepping on a guys foot and tearing a ligament could cost you 23 million dollars? Now Les has to pay the 23 million and the six million because he thinks Tmac will miss 20+ games next year ... and you had to buy it last year before he was injured. It's a deal that doesn't make sense to either side. If someone comes on and confirms Feigen, fine. I'm just asking for facts.
I don't want T-mac to play hard for me. He should play hard for himself, just like everyone else on the team played last season. I don't want that piece of **** to do a damn thing for me.
If you aren't discussing particulars about an insurance policy, you kids get off my lawn. Or making jokes. Jokes are cool.
The insurance policy isn't a year to year thing. This is a standard policy that's built into every contract when it gets signed. The only deals that don't get insured are for people who have heath defects like Cuttino. I'm not sure of the details but I'm pretty sure the policy only covers season ending injuries. If you miss a couple weeks or have a nagging injury, the insurance isn't going to kick in. As for it being for every game or not, of course it would be for every game. That's called prorating. Every single business transaction has to take into account the length of time and percentage of the whole regardless if it's rent or your cable bill etc. Insurance isn't any different. My understanding of the situation is that since Tracy had season ending surgery, the insurance policy has been picking up 80% of the tab on his contract and will continue to do that for every game that he misses in 2009-10 until his return.
So the decision to have surgery during the season vested the Team in the insurance contract? The way he was playing that sounds like Tmac actually did the team a favor slinking off into the night to get surgery.
McGrady never fully recovered from his surgeries from last off-season and he had season ending surgery during this season. It's the same injuries/injury. So I'm assuming, until he can play, they continue to pay.
My understanding of the situation is that since Tracy had season ending surgery, the insurance policy has been picking up 80% of the tab on his contract and will continue to do that for every game that he misses in 2009-10 until his return. I wonder if that sweetheart deal was re-insured to AIG and is now being paid by the American taxpayer? Where did you read 80% figure?
It's a figure that always gets thrown around in articles, so I've taken it as the standard percentage. See below for links that mention the 80% insurance pickup: http://www.blogabull.com/2009/6/8/903037/jerome-james-and-the-luxury-tax http://www.nba.com/2009/news/02/18/bulls.kings.trade/index.html http://www.sohood.com/crib/2009/02/07/suns-knicks-lakers-nba-deals/ http://sports.espn.go.com/espn/page2/story?page=simmons/090227
