[ad_1]
Acting midfielder Jay Ajayi of the Eagles was scheduled to undergo surgery today in a torn ACL, a season that ended his season after just four games and 184 yards on the ground. It also complicates things to come for his free agency.
The Ajayi contract is in place after 2018 and a long-term contract in Philadelphia was not a guarantee. For a player whose right knee had already caused problems during his career, a ligament tear in the other knee is not ideal.
However, according to his sales manager Josh Sanchez, Ajayi bought an insurance policy against the loss of value over the last year (and the year before) to protect him from what was happening exactly .
Ajayi was considered an important free agent on the basis of politics. If the injury reduces his market to the point of becoming a lower level free agent, he may receive a maximum net payment of $ 5 million – after tax.
In other words, if the value of Ajayi's free agent decreases, the policy will help bridge the difference. Let's say that he is considered to be able to win a $ 16 million contract over four years prior to the injury. But now he only earns $ 8 million over four years.
The policy should end up paying for it to make up the difference with $ 5 million tax-free. Similar policies can typically cost between $ 80,000 and $ 100,000. This is not what any player wants. But at least, Ajayi is prepared for the worst scenario.
Follow Ian Rapoport on Twitter @RapSheet.
[ad_2]
Source link
