Saturday, May 25, 2024
Home NFLGreen Bay Packers Jets now paying for $20 million mistake made when signing Aaron Rodgers

Jets now paying for $20 million mistake made when signing Aaron Rodgers

by Moxieplay

The New York Jets are reportedly missing out on over $20 million after refusing to insure quarterback Aaron Rodgers when acquiring him from the Green Bay Packers in a trade, according to Daniel Libit and Eben Novy-Williams of Sportico.

Several insurance policies reached out to the Jets when they signed Rodgers, but all of them failed to negotiate a deal with the New York franchise. Libit and Novy-Williams reported that the team’s front office rarely insures contracts.

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“After the New York Jets signed Rodgers to a new, fully guaranteed $75 million deal this offseason, his new team took a different approach,” Libit and Novy-Williams wrote. “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.”

Aaron Rodgers walking again

Green Bay often insured Rodgers in case of injury, which would have been a smart choice by the Jets.

Rodgers limped off the field four plays into his Jets debut and underwent Achilles surgery shortly after.

His recovery is coming along well. Rodgers was recently seen walking way ahead of the expected time.

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