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Bure, Insurance, and Waiver Draft

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10-03-2003, 04:03 AM
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SingnBluesOnBroadway
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Bure, Insurance, and Waiver Draft

With Rangers receiving about 80% of Bure's contract from insurance this season, would another team claim Bure to get that insurance money? Assuming a team claims Bure and pays the 2M that is not covered by insurance, the team would be paying 2M to get 8M in insurance money. This would give the team who claims Bure 6M in extra money. All of this is in theory as I don't know the specifics and intricacies of insurance and the waiver draft. So is this possible?

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10-03-2003, 04:08 AM
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Quote:
Originally Posted by SingnBluesOnBroadway
With Rangers receiving about 80% of Bure's contract from insurance this season, would another team claim Bure to get that insurance money? Assuming a team claims Bure and pays the 2M that is not covered by insurance, the team would be paying 2M to get 8M in insurance money. This would give the team who claims Bure 6M in extra money. All of this is in theory as I don't know the specifics and intricacies of insurance and the waiver draft. So is this possible?

I doubt it because no matter what, Bure is still entitled to his 10 million. So whether it is offset by insurance or a team pays it, it still is 10 million.

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10-03-2003, 04:24 AM
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donpaulo
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the way it works as I understand it is this,
Bure earns 10 million, insurance pays 8 million the rangers are on the hook for 2 million. No "bonus" money anywhere just a large bill for a guy who isn't playing hockey this season.

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10-03-2003, 06:38 PM
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It would depend on who paid for the insurance and whether it was tranferrable in the event Bure was traded. I'm pretty sure that the club paid for the insurance, I have no idea whether these contracts are transferrable.

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10-03-2003, 06:53 PM
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n8
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this has come up before and it's all erroneous. insurance gives the $8M to BURE and not the club. look towards the bryan berard situation. he gets insurance money for not playing when his eye was injured. when they reached a retirement agreement and then berard came back, he had to pay back that money he owed to the insurance company that he collected. AT NO TIME did the maple leafs ever RECEIVE money during this whole ordeal.

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10-03-2003, 07:08 PM
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In the end Bure will receive his salary for this season and the Rangers are on the hook for it. The fact that there is insurance doesn't mean that the Rangers will pay less than $10 million to Bure--in fact their cost is higher, since they had to pay for the insurance.

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10-03-2003, 07:51 PM
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NYR469
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Quote:
Originally Posted by SingnBluesOnBroadway
With Rangers receiving about 80% of Bure's contract from insurance this season, would another team claim Bure to get that insurance money? Assuming a team claims Bure and pays the 2M that is not covered by insurance, the team would be paying 2M to get 8M in insurance money. This would give the team who claims Bure 6M in extra money. All of this is in theory as I don't know the specifics and intricacies of insurance and the waiver draft. So is this possible?
the rangers don't get $8 mil from insurance, bure gets $8 mil from insurance...

the rangers owe bure $10 mil this year, so they get $8 mil from insurance and then give that $8 mil plus another $2 mil to bure...

so if another team picked up bure they would lose $2 mil for a guy that isn't going to play again

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