It took just four plays for Aaron Rodgers’ debut with the New York Jets to come to an end.
There are major financial implications looming over Rodgers’ Achilles injury, which will keep him out for the remainder of the season. Rodgers took a ‘pay cut’ and signed a two-year extension worth $75 million in guaranteed money. But with Rodgers’ season cut short after just 75 seconds on the field, will the Jets be on the hook for the entire value of the contract?
Well, the answer to that question is a bit more complicated than it sounds.
While insurance policies are not all that uncommon in sports, they are more common in the NBA and MLB, where contracts are fully guaranteed.
Disability insurance is less common in football, where teams can generally cut players once they’ve been hurt.
However, due to the fully guaranteed nature of Rodgers’ contract, there is a strong chance that the Jets took out an insurance policy to protect themselves from this exact scenario.
How Much Would Aaron Rodgers’ Insurance Policy Be Worth?
The New York Jets owe Aaron Rodgers $75 million in guaranteed money.
But they probably have an insurance policy in place, which would cover 50% to 80% of the money due to a season-ending injury.
Here's how it works: pic.twitter.com/VljuOEh24N
— Joe Pompliano (@JoePompliano) September 13, 2023
According to Joe Pompliano, there is a good chance that New York protected itself with a loss of value insurance policy worth between 50 to 80 percent of his contract.
That means that the Jets could be reimbursed for up to $60 million of Rodgers’ contract if he retires and up to $29.5 million for this season alone.
The premium for the insurance policy would depend on a number of different factors, including his age, injury history, the speed of the payments, size of the projection, and more.
While these types of plans are quite complex, it’s possible that the Jets won’t be out of luck after all and may even recoup a large portion of the sum paid to Rodgers for his brief stint this season.
Rodgers Vows To Return To The Field After Achilles Injury
There has been plenty of speculation regarding what’s next for both the Jets and Rodgers.
Much of that speculation was put to rest on Wednesday, as Robert Saleh continued to express confidence in Zach Wilson as the team’s starting quarterback. As for Rodgers, the future Hall of Fame quarterback took to Instagram to share a message with his fans.
“I’m completely heartbroken and moving through all of the emotions, but deeply touched and humbled by the support and love,” Rodgers wrote on Wednesday. “Please keep me in your thoughts and prayers as I begin the healing process today.”
While many NFL analysts thought retirement could be a possibility for the 39-year quarterback, that doesn’t seem to be the case.
Rodgers concluded the post by saying, “The night is darkest before the dawn. And I shall rise yet again.”
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