For the New York Yankees, a team that's been getting bad news upon bad news this year, here's something good: EPSN New York is reporting that insurance will cover close to $19 million of Mark Teixeira's $22.5 million salary this season. The Yankees announced earlier this week that their injured slugger would need season-ending wrist surgery.
It's not the kind of news that's necessarily going to help the Yankees in the standings — unless the savings push them to make a trade — but it sure will help their bank account.
Teixeira played in only 15 games this season, an on-the-field spurt book-ended by injuries. He initially hurt himself during the lead-up to the World Baseball Classic. Since he was hurt during WBC prep, insurance provided by MLB covers $7 million of his salary. Teixeira re-aggravated the wrist injury a few weeks back and was placed on the disabled list.
A Yankees insurance policy, according to an ESPN source, will now cover another larger chunk of Teixeira's contract. All told, insurance is expected to eat $18.7 million of what Teixeira will be paid this year.
Now what about A-Rod? Aren't there some insurance issues in play there? Glad you asked. Let's kick it over to ESPN New York for that one:
If A-Rod were to miss the entire season because of his hip, the Yankees would not receive the full $28 million he is owed from his temporary insurance. The most they would save is $9 million because of how the policy is set up.
The big score for the Yankees would be if Rodriguez's hip won't allow him to play again. If this were to happen, the Yankees would put in a claim on their permanent policy and, possibly, could recoup about 80 percent the approximate $100M Rodriguez is still owed.
Between A-Rod, Teixeira and all the rest of their injuries, anybody else wondering what the Yankees insurance premiums are going to look like next year? Wowzers.
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- Mark Teixeira
- New York Yankees