Colorado Avalanche




Colorado Avalanche

Colorado Avalanche logo.svg

The Colorado Avalanche is a professional ice hockey team based in Denver, Colorado. They are members of the Central Division of the Western Conference of the National Hockey League (NHL). The Avalanche are the only team in their division not based in the Central Time Zone; the team is situated in the Mountain Time Zone. Their home arena is Pepsi Center. Their general manager is Joe Sakic.
The Avalanche were founded in 1972 as the Quebec Nordiques and were one of the charter franchises of the World Hockey Association. The franchise joined the NHL in 1979 as a result of the NHL–WHA merger. Following the 1994–95 season, they were sold to the COMSAT Entertainment Group and relocated to Denver.
In the club's first season in Denver, the Avalanche won the Pacific Division and went on to sweep the Florida Panthers in the 1996 Stanley Cup Finals, becoming the first NHL team to win the Stanley Cup in the season following a relocation. Among teams in the major North American professional sports leagues, only the National Football League (NFL)'s Washington Redskins have also accomplished the feat. This was the first major professional sports championship a Denver-based team would bring to the city.
In the 2001 Stanley Cup Finals, the Avalanche defeated the New Jersey Devils 4–3 to win their second and most recent championship. As a result, they are the only active NHL team that has won all of its Stanley Cup Final appearances.
The Avalanche have won nine division titles (including their first eight in a row in Denver, the longest such streak in NHL history) and qualified for the playoffs in each of their first ten seasons in Denver; this streak ended in 2007.

Insurance policies in sport

Insuring against the risks involved in sports has arguably never been more important. The amount of money now at stake, the scale and sophistication of tournaments, and the global geo-political landscape have all helped elevate risk levels.  
Take event organisation. All eyes were on the French authorities for the recent European Football Championships. Terrorism deterrence and response was a key issue before the tournament in light of recent terror attacks in Paris and Brussels. The U.S. went so far as to issue a formal travel warning to it citizens.1 Stakeholders will have had to review their insurance cover and wider risk management strategies (especially in light of the fact that terrorism is an often excluded risk). In the end, it was not terrorism but hooliganism that caught the headlines. This in itself could have had significant insurance repercussions for those who suffered loss, depending on whether or not specific insurance policies 1) existed, and 2) provided cover for loss suffered as a result of riots, civil unrest, vandalism, or hooliganism.
Then there are the risks facing teams and individual athletes. There were numerous reports of athletes such as Jessica Ennis-Hill, Andy Murray and Rory McIlroy consulting experts about the risks of the Zika virus in Brazil for Rio 2016.2 Rory McIlroy decided that it was a risk that he was unwilling to take.3 What would have happened if the Olympics had been postponed, or if something happened resulted in the cancellation of part or the entire event? That risk needed to be appropriately managed.
Risk managers, clubs, athletes, governing bodies and event organisers (amongst others) should all be seriously considering risk management day-to-day, and it ought to be an integral part of any individual or team’s commercial toolbox. This article explores some of the most common sports-related insurance policies that are available today and the legal issues involved in their effective deployment. 

CAREER ENDING INSURANCE

Sometimes, despite talent, athletes are prevented from fulfilling their potential due to career-ending injuries. Specific policies are available to cover athletes for loss of current and future potential earnings following an injury although they are often found within personal accident policies. Often the policy will provide sportspeople with a lump sum (tax-free) and can also include potential earnings from commercial sponsorships/ endorsements.
Fabrice Muamba memorably collapsed whilst playing for Bolton versus Tottenham Hotspur in 2012. Muamba was reportedly on c. £35,000 per week and was only 23 when his career was ended. Muamba did have insurance although the details are confidential. We do not know whether Muamba had a policy that paid a lump sum for lost potential earnings, but the potential total figure could have been huge. By way of illustration, if Muamba had stayed on £35,000 per week (it would likely have increased) for another ten years, he would have earned at least £18.2m before tax.
Another notable example involves Steve Thompson (the retired England Rugby World Cup winning hooker). Thompson suffered what he thought was a career ending injury after damagin his neck playing for Northampton Saints. Thompson famously returned to the sport later that year after surgery and being passed fit to play. Thompson had received a significant pay-out from his insurers which he had to pay back before he could return to the sport. The policies should explicitly state that the athlete will not be able to compete professionally in the sport after they have made a claim. Thompson retired in 2011 after a recurrence of the original injury, and the details of a second insurance pay-out (if any) are unknown.

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