Jets Covered $20 Million Slip-Up In Recruiting Aaron Rodgers
According to Daniel Libit and Eben Novy-Williams of Sportico, the New York Jets lost approximately $20 million by not insuring QB Aaron Rodgers when they traded for him from the Green Bay Packers.
When the Jets recruited Aaron Rodgers, several insurance companies tried to work out a contract with the New York team, but none of them were successful. The front office of the organization seldom insures contracts, according to Libit and Novy-Williams.
In Libit and Novy-Williams noted that his new team adopted a different strategy with the signing of Rodgers to a new, fully guaranteed $75 million contract by the New York Jets this summer.
According to persons who knew the matter, the Jets were presented with several insurance options for the 39-year-old’s contract; nevertheless, they finally decided against buying one. When Rodgers tore his Achilles tendon in the first game of the season, the Jets’ choice, consistent with their recent strategy of contracting insurance, might have cost the franchise more than $20 million in insurance proceeds.
Insurance policies might differ significantly depending on the age, position, and past injuries of the player. According to sources, the Jets’ insurance included premiums ranging from around $1 million to $4 million, with the top-end choices covering roughly 60% of the $37 million (or $22 million) that Rodgers was promised this year.
Aaron Rodgers is once again seen walking.
It was common practice for Green Bay to insure Rodgers in case of injury, something the Jets should have done.
Four plays into his Jets debut, Rodgers hobbled off the pitch and soon after necessary Achilles surgery.
He is making good progress with his healing. In a recent sighting, Rodgers was moving far faster than was expected.
