Broncos get more protection regarding Peyton's health with re-structuring of insurance language

[chad72]

http://www.usatoday.com/story/sports/nfl/broncos/2013/05/17/peyton-manning-broncos-contract-restructure/2193609/?kjnd=lEsauBr1s%2BVKhy%2B7Cl0fuTr4d4teaQeGDW0WtwAWa0njoWlHv0LsLDjIlmHxJP91-bec4c3aa-ab17-4021-b9f8-df2b2b82728f_0GBTFxfAdW0aibz9Kee7MZPudahuuzRBefX3LCdxYPUVD3aPKvzx0UF%2BDt2V3Awc

 

Key part:

 

The Denver Broncos added an insurance clause to quarterback Peyton Manning's contract as protection in case Manning could not play in 2014.

[Nadine]

I'd like more info

The title says that manning and the broncos restructured, curious what the restructure actually is............I mean what is the 'insurance clause?" and why would manning agree to it when he already had a contract?

 

just curious

[oldunclemark]

    _{Odd..like Nadine says....something's left out here...}

 

   _{Manning was worked out and cleared after the 2012 season and then the Broncos added insurance in case he cant play in 2014 (not this coming season) for reasons other than his neck injury..?}

 

_{I dont understand.....why be concerned with 2014 before 2013..?}

[Superman]

http://espn.go.com/nfl/story/_/id/9285806/peyton-manning-signs-new-contract-deal-change

 

The contract had a team option prior to the 2013 league year. Pending a physical, the Broncos could determine whether they wanted to keep Manning or not. The Broncos picked up the option, which triggered guaranteed salaries for 2013 and 2014. That's done.

 

The insurance policy protects the Broncos in the event that Manning suffers another injury to his neck in 2013 and can't play in 2014. It basically makes what is currently a two year contract a one year contract, if he gets hurt again.

[chad72]

I think what people are wondering is, after a healthy 2012 season, what changed regarding Peyton's neck that prompted the Broncos to insert this additional language?

[Superman]

I think what people are wondering is, after a healthy 2012 season, what changed regarding Peyton's neck that prompted the Broncos to insert this additional language?

 

Perhaps they weren't able to get a reasonable policy before the 2012 season, when the contract was originally done. Now that Manning has a year under him, and a solid physical, they were able to get a reasonable policy for 2014. They purchased the policy recently, and now the contract has been amended to reflect the policy.

 

Pro sports teams often purchase insurance on big contracts. It's probably less common in the NFL because contracts aren't fully guaranteed, but I know it's a really big deal in the NBA. When the Knicks signed Amare Stoudemire, they were unable to get a policy because of his knees. In this case, Manning's contract is technically guaranteed through 2014, but this policy provides the Broncos with compensation and a cap credit if his neck gets hurt again. Seems like a technicality to me.

[amfootball]

Smart move by the Broncs.

[Valpo2004]

Perhaps they weren't able to get a reasonable policy before the 2012 season, when the contract was originally done. Now that Manning has a year under him, and a solid physical, they were able to get a reasonable policy for 2014. They purchased the policy recently, and now the contract has been amended to reflect the policy.

 

Pro sports teams often purchase insurance on big contracts. It's probably less common in the NFL because contracts aren't fully guaranteed, but I know it's a really big deal in the NBA. When the Knicks signed Amare Stoudemire, they were unable to get a policy because of his knees. In this case, Manning's contract is technically guaranteed through 2014, but this policy provides the Broncos with compensation and a cap credit if his neck gets hurt again. Seems like a technicality to me.

 

Wasn't aware about this insurance thing.  If this is true then most likely the insurance people had to see him out there for a season before they where willing to take this risk.

 

I wonder what the premium for this policy is.  

[bayone]

I think what people are wondering is, after a healthy 2012 season, what changed regarding Peyton's neck that prompted the Broncos to insert this additional language?

 

i'm wondering if neck nerve starts to degenerate, as has with mine post op, or if stenosis reoccurs as has with mine, but after 25 years but then again i dont take NFL hits, so maybe afraid can get arthritic  press more on nerve, more sensation & grip loss & strength loss, & just insuring  against a possible but improbable   worse case scenario 

===============

 

An insurance policy that guarantees the Broncos $10 million in cap space for 2014 in the event that Manning injures his body in any place other than his neck in 213... At least according to ProFootballTalk's Mike Florio's source, whom I am now sourcing.

 

 

Smart move by Denver, in the event that all of this hearsay is true. One interesting point that all of this speculation did bring to light is the fact that the Broncos currently sit at $7.953 million under the cap, with a first, second and third round draft pick needing to be signed.

Sounds like a lot of extra money, considering last season's 28th overall draft pick Nick Perry (Green Bay Packers) had a cap figure of $1.3635 million-- Denver could have around $5 million to play with before any June 1st cuts are made.

 

http://www.milehighreport.com/2013/5/17/4340766/much-ado-about-peyton-mannings-contract