New York Islanders


New York Islanders

Logo New York Islanders.svg


The New York Islanders are a professional ice hockey team based in the New York metropolitan area. They are members of the Metropolitan Division of the Eastern Conference of the National Hockey League (NHL). The team splits its home games between Barclays Center in the borough of Brooklyn and Nassau Coliseum in Uniondale, New York. The Islanders are one of three NHL franchises in the New York metropolitan area, along with the New Jersey Devils and New York Rangers, and their fan base resides primarily on Long Island.
The team was founded in 1972 as part of the NHL's maneuvers to keep a team from rival league World Hockey Association (WHA) out of the newly built Nassau Veterans Memorial Coliseum in suburban Uniondale, New York. After two years of building up the team's roster, they found almost instant success by securing fourteen straight playoff berths starting with their third season. The Islanders won four consecutive Stanley Cup championships between 1980 and 1983, the seventh of eight dynasties recognized by the NHL in its history. Their 19 consecutive playoff series wins between 1980 and 1984 is a feat that remains unparalleled in the history of professional sports.
Following the team's dynasty era, the franchise ran into problems with money, ownership and management, an aging arena, and low attendance. Their woes were reflected on the ice, as the team has not won a division title since 1987–88, and went 22 seasons without winning a playoff series prior to the 2016 playoffs. After years of failed attempts to rebuild or replace Nassau Coliseum in suburban Long Island, the Islanders relocated to Barclays Center following the 2014–15 season.In the 2018–19 season the Islanders started sharing their home games between the Barclays Center and Nassau Coliseum until their new arena will be opened in 2021.
Eight former members of the Islanders have been inducted into the Hockey Hall of Fame, seven of whom—Al Arbour, Mike Bossy, Clark Gillies, Denis Potvin, Billy Smith, Bill Torrey, and Bryan Trottier—were members of all four Cup-winning teams. Pat LaFontaine is the most recent inductee, having been honored in 2003.

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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