Kukla's Korner Hockey
by George Malik on 06/30/12 at 01:44 AM ET
Perhaps predictably given Sidney Crosby’s concussion history, the Pittsburgh Tribune-Review’s Josh Yohe reports that the Penguins were not able to find an underwriter willing to take on the massive gamble that is Sidney Crosby’s “lifetime contract” with Pittsburgh:
The Penguins cannot insure themselves against a concussion-related early retirement by franchise center Sidney Crosby, NHL sources told the Tribune-Review on Friday.
Crosby, 24, has missed all but 63 games the past two seasons because of concussion symptoms. He and the Penguins agreed to a 12-year contract worth $104.4 million — all of it guaranteed. The team will present the contract to the league Sunday for approval.
Insurance companies offer teams protection against career-ending injuries, but Crosby’s concussion history is considered a pre-existing condition. If Crosby cannot finish his contract because of a concussion-related injury, he will still be paid in full, but the Penguins would not receive assistance from an insurance policy on the deal, sources said.
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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.
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