Los Angeles Kings



Los Angeles Kings

Los Angeles Kings Logo (2011).svg

The Los Angeles Kings are a professional ice hockey team based in Los Angeles. They are members of the Pacific Division of the Western Conference of the National Hockey League (NHL). The team was founded on June 5, 1967, after Jack Kent Cooke was awarded an NHL expansion franchise for Los Angeles on February 9, 1966, becoming one of the six teams that began play as part of the 1967 NHL expansion.The Kings played their home games at The Forum in Inglewood, California, a suburb of Los Angeles, for thirty-two years, until they moved to the Staples Center in Downtown Los Angeles at the start of the 1999–2000 season.
During the 1970s and early 1980s, the Kings had many years marked by impressive play in the regular season only to be washed out by early playoff exits. Their highlights in those years included the strong goaltending of Rogie Vachon, and the "Triple Crown Line" of Charlie Simmer, Dave Taylor and Hall of Fame player Marcel Dionne, who had a famous upset of the uprising Edmonton Oilers in a 1982 playoff game known as the Miracle on Manchester. In 1988, the Kings traded with the Oilers to get their captain Wayne Gretzky, leading to a successful phase of the franchise that raised hockey's popularity in Los Angeles, and helped raise the sport's profile in the American Sun Belt region. Gretzky, fellow Hall of Famer Luc Robitaille and defenseman Rob Blake led the Kings to the franchise's sole division title in 1990–91, and the Kings' first Stanley Cup Final appearance in 1993.
After the 1993 Finals, the Kings entered financial problems, with a bankruptcy in 1995, which led to the franchise being acquired by Philip Anschutz (owner of Anschutz Entertainment Group, operators of Staples Center) and Edward P. Roski. A period of mediocrity ensued, with the Kings only resurging as they broke a six-year playoff drought in the 2009–10 season, with a team that included goaltender Jonathan Quick, defenseman Drew Doughty, and forwards Dustin Brown, Anze Kopitar and Justin Williams. Under coach Darryl Sutter, who was hired early in the 2011–12 season, the Kings won two Stanley Cups in three years: 2012, over the New Jersey Devils, and 2014, against the New York Rangers while Quick and Williams respectively won the Conn Smythe Trophy.

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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