According to reports, the New York Jets may have lost tens of millions of dollars by simply neglecting to insure Aaron Rodgers‘ contract.
The four-time league MVP was traded to New York from the Green Bay Packers in a big deal this past offseason. Sadly, the potential Hall of Famer tore his Achilles only minutes into his Sept. 11 Jets debut against the Buffalo Bills.
The Jets rejected a number of insurance plans on Rodgers’ contract, according to Daniel Libit and Eben Novy-Williams of Sportico. The article stated that the team may lose more than $20 million by not insuring his contract:
“After the New York Jets signed Rodgers to a new, fully guaranteed $75 million deal this offseason, his new team took a different approach. The Jets were offered multiple insurance policies for the 39-year-old’s contract, according to people familiar with the situation, but ultimately chose not to purchase one. The decision, consistent with the Jets’ recent approach to contract insurance, potentially cost the team $20 million-plus in insurance proceeds once Rodgers tore his Achilles tendon in the first game of the season…
Insurance terms can vary dramatically depending on the age of a player, his position, and prior injuries. Sources say that in the Jets case, the policies offered had premiums ranging from roughly $1 million to $4 million, with the upper-end options covering around 60% of the $37 million (or $22 million) that Rodgers was guaranteed this year.”
Prior to the Jets’ Week 4 home game against the Kansas City Chiefs two weeks ago, Rodgers was spotted moving around the locker room of the team without the use of crutches. The soon-to-be 40-year-old has publicly expressed his desire to make a miracle recovery in the hopes of playing again this season.
Oh baby: the #1JD crew showed some new footage of #Jets QB Aaron Rodgers walking around the locker room ahead of the #Chiefs game w/o the use of crutches 👀 QB1 is looking good in rehab 🎥 @nyjets #TakeFlight pic.twitter.com/G7aF12UXmC
— Paul Andrew Esden Jr (@BoyGreen25) October 13, 2023
The Jets have chosen Zach Wilson, the second overall pick in 2021, to lead the offense in Rodgers’ absence. Although a BYU graduate, the player has had trouble thus far, completing only 61.1 percent of his throws for 911 yards, four touchdowns, and five interceptions.
Last Sunday, the Jets defeated the Denver Broncos 31-21 to end a three-game losing run. When they host the Philadelphia Eagles on Sunday, they’ll want to get back to.500.
