St. Louis Cardinals


St. Louis Cardinals


St. Louis Cardinals logo.svg

The St. Louis Cardinals are an American professional baseball team based in St. Louis, Missouri. The Cardinals compete in Major League Baseball (MLB) as a member club of the National League (NL) Central division. Busch Stadium has been their home ballpark since 2006. One of the most successful franchises in baseball history, the Cardinals have won 11 World Series championships, the second-most in Major League Baseball (behind the New York Yankees) and the most in the National League. Their 19 National League pennants rank third in NL history. In addition, St. Louis has won 13 division titles in the East and Central divisions.
While still in the old American Association (AA), named then as the St. Louis Browns, the team won four AA league championships, qualifying them to play in the professional baseball championship tournament (a forerunner of the modern World Series, established 1903) of that era. They tied in 1885 and won outright in 1886and lost in 1888 for the early trophy Hall Cup versus the New York Giants.[5] The others both times against the Chicago Cubs (originally the Chicago White Stockings then), in the first meetings of the Cardinals–Cubs rivalry between nearby cities of St. Louis and Chicago that continues to this day.
With origins as one of the early professional baseball clubs in St. Louis and the nation, entrepreneur Chris von der Ahe purchased a barnstorming club in 1881, then known as the Brown Stockings, and established them as charter members of the old American Association (AA) base ball league which played 1882 to 1891, the following season. Upon the discontinuation of the AA, St. Louis joined the continuing National League of Professional Base Ball Clubs, later known simply as the National League, (organized in 1876), in 1892; at that time, they were called the Browns (not to be confused with a later team also known as the St. Louis Browns in the American League, 1902-1953) and also as the Perfectos before they were officially renamed eight years later as the Cardinals in 1900.
Cardinals achievements that have impacted MLB and sports events in general include manager/owner Branch Rickey's pioneering of the farm systemRogers Hornsby's two batting Triple CrownsDizzy Dean's 30-win season in 1934Stan Musial's 17 MLB and 29 NL records, Bob Gibson's 1.12 earned run average (ERA) in 1968Whitey Herzog's WhiteyballMark McGwire breaking the single-season home run record in 1998, and the 2011 championship team's unprecedented comebacks.[6] The Cardinals have won 105 or more games in four different seasons and won 100 or more a total of nine times. Cardinals players have won 20 league MVPs, four batting Triple Crowns, and three Cy Young AwardsBaseball Hall of Fame inductees include Lou BrockDizzy DeanBob GibsonWhitey HerzogRogers HornsbyJoe MedwickStan MusialBranch RickeyRed SchoendienstOzzie Smith, and Bruce Sutter.
In 2018, Forbes valued the Cardinals at $1.9 billion, making them the 7th-most valuable franchise in MLB; their revenue the previous year was $319 million, and their operating income was $40.0 million.[7][8][9] Since their purchase in 1995, owner William DeWitt, Jr.'s investment group has seen enormous growth from the $147 million purchase price. John Mozeliak is the President of Baseball Operations, Mike Girsch is the general manager and Mike Shildt is the manager.[10][11] The Cardinals are renowned for their strong fan support: despite being in one of the sport's mid-level markets, they routinely see attendances among the league's highest, and are consistently among the Top 3 in MLB in local television ratings.

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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