New Jersey Devils


New Jersey Devils
Inside a white circle with black borders, the letters "N" and "J" in red joined together, with the "J" having devil horns at the top and a pointed tail at the bottom.

The New Jersey Devils are a professional ice hockey team based in Newark, New Jersey. They are members of the Metropolitan Division of the Eastern Conference of the National Hockey League (NHL). The club was founded as the Kansas City Scouts in Kansas City, Missouri, in 1974. The Scouts moved to Denver, Colorado in 1976and became the Colorado Rockies. In 1982, they moved to East Rutherford, New Jersey and took their current name. For their first 25 seasons in New Jersey, the Devils were based at the Meadowlands Sports Complex in East Rutherford and played their home games at Brendan Byrne Arena (later renamed to Continental Airlines Arena). Before the 2007–08 season, the Devils relocated to Newark and now play their home games at Prudential Center.
The franchise was poor to mediocre in the eight years before moving to New Jersey, a pattern that continued during the first five years in New Jersey as they failed to make the Stanley Cup playoffs and never finished higher than fifth in their division. Their fortunes began to turn around following the hiring of president and general manager Lou Lamoriello in 1987. Under Lamoriello's stewardship, the Devils made the playoffs all but three times between 1988 and 2012, including 13 berths in a row from 1997 to 2010, and finished with a winning record every season from 1992–93 to 2009–10. They have won the Atlantic Division regular season title nine times, most recently in 2009–10, before transferring to the newly created Metropolitan Division as part of the NHL's realignment in 2013. The Devils have reached the Stanley Cup Finals five times, winning in 1994–951999–00 and 2002–03. The Devils were known for their defense-first approach throughout their years of Cup contention, but have since moved towards a more offensive style.
The Devils have a rivalry with their cross-Hudson River neighbor, the New York Rangers, as well as a rivalry with the Philadelphia Flyers. The Devils are one of three NHL teams in the New York metropolitan area; the other two teams are the New York Islanders and New York Rangers. With the move of the New Jersey Nets to Brooklyn in 2012, the franchise is the only major league team in any sport that explicitly identifies itself as a New Jersey team.

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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