Player insurance

Wow that's a major fuck up

I didn't know about this "loophole" where the insurance provides salary cap relief and we missed out on that. Why would they be that stupid with a 40 year old QB? Joe Douglas should've gotten fired just for that

 

That’s not on JD, ai think Woody was too cheap to take the insurance.

 

its on both

 

They both look like idiots and that's good enough for me.

 

Fascinating g. To think we could have clawed back so much cap space… that would really have helped.

I have thought for a long time, though, that if you lose a player to injury, you should be able to get back a proportion of their cap hit. No money would come back from the player, the team would juat get cap relief of some kind, depending on the number of games missed.

 

"The CBA labels insurance proceeds as a "refund from the player," which qualifies the amount as a cap credit for the club for the following season. In the simplest terms, if a player who eats up a significant portion of a club's salary cap misses significant time with injury or illness, a club doesn't have to take it as a total loss, but can recover space for the following year. Plus, insurance premium payments don't count against the salary cap.

"That's the crux of the loophole," the former club executive said. "You effectively can use cash to create cap space from scratch. In a closed system, that is one of the few ways to buy cap space."

"According to an insurance industry source, the Jets never returned calls from multiple insurance brokers, including the one who wrote and sold the Packers their policy on Rodgers. The Jets could have negotiated the existing Rodgers policy to insure a reduced portion of the signing bonus, but instead they let the policy go.

Joe Douglas was hired in 2019 as the Jets' general manager from his role as vice president of player personnel for the Eagles, a team that deals in insurance policies more than any other club. But the insurance decision may not have been hi"s to make."

LOL...

 

Boy, the entire front office looks pretty stupid over this. But the math in the article says spend 4million to insure 22 million. Take away the million...how many of us spend 40,000 to insure our house worth 220,000. I dont

 

Just my Jets never missing an opportunity to miss an opportunity.

 

Is there any factual basis whatsoever for those thoughts?

 

I assume the value of the 75 is huge. But the 22 million was fixed, apparently. It's 4 to insure 22.

 

Seems like a bullshit loophole that some nerd hid in the CBA, no? Why would you recoup cap space the following year when the player is likely to be active again? Wouldn’t it make sense to recoup it in the same year they get hurt and go on season ending IR?

Not that it would help much since there’s little you can do during the season to affect a football team.

 

Absolutely. The facts of common sense. If JD had an opportunity to take out insurance on Rodgers at whatever cost it was, he’d have to run that up the chain for approval. Unless you’re insinuating that JD saw the insurance policy and decided himself it wasn’t worth it, subsequently costing Woody tens of millions of dollars that he could have recouped in insurance, and still has a job here.

 

So is this like when you take out an insurance policy on your spouse and then push them off a cliff? I saw this on ID Discovery, Homicide Hunter.

 

Fully agree there was high risk. And that is what insurance is for. But, I guess they didn't expect the injury to come ASAP. However, unlike other forms of insurance, you cant use the payout to replace AR. All you can do is collect the cash. So again, should you spend 4million to insure against 22 million? And I have no idea if the 22 would hold if the injury came in game 2,6,12 whenever. There certainly has to be a kind of cut off or diminishing point.

Now I am no fan of the Johnson decision making process, based on both the Jets and what I have read about his time as Ambassador. But the organization must be staffed with lawyers, finance guys, whatever. Big money decisions probably get varied input.

 

So, you got nothin'.

 

If you recall, there was no appreciable interest in bringing in another QB in Florham Park, but the payout would have provided a nice bump to the cap as well as returning the cash.

 

Ok, Joe Douglas did it all by himself. Sure.