Right.
Both the teams and individual players frequently buy insurance for contracts. I believe that’s the case for all pro sports.
Wonder what the premiums are like. With the size of these long term contracts in professions that have typically short career lives, the underwriters have to charge serious bucks or stop insuring $50 to $300 million contracts. Seems to me at any rate.
I have to think professional sports could price itself out of existence.
I also wonder how financially viable the NFL would be if the teams had to build their own stadiums (instead of you and me paying for them) and the tax breaks the teams get from governments (again, your money). Where else does the government dun the taxpayer to build operating facilities for private sector businesses? Why not pay for my warehousing facilities? I generate income for the local economy.