Tampa Bay Rays



Tampa Bay Rays

Tampa Bay Rays.svg

The Tampa Bay Rays are an American professional baseball team based in St. Petersburg, Florida. The Rays compete in Major League Baseball (MLB) as a member of the American League (AL) East division. Since its inception, the team's home venue has been Tropicana Field.
Following nearly three decades of unsuccessfully trying to gain an expansion franchise or enticing existing teams to relocate to the Tampa Bay Area, an ownership group led by Vince Naimoli was approved on March 9, 1995. The Tampa Bay Devil Rays began play in the 1998 Major League Baseball season.
Their first decade of play, however, was marked by futility; they finished in last place in the AL East in all but the 2004 season, when they finished second-to-last.[4]Following the 2007 season, Stuart Sternberg, who had purchased controlling interest in the team from Vince Naimoli two years earlier,[5] changed the team's name from "Devil Rays" to "Rays", now meant to primarily refer to a burst of sunshine rather than a manta ray,[1] though a manta ray logo remains on the uniform sleeves. The 2008 season saw the Tampa Bay Rays post their first winning season, their first AL East championship, and their first pennant (defeating the rival Boston Red Sox in the ALCS), though they lost to the Philadelphia Phillies in that year's World Series. Since then, the Rays have played in the postseason in 2010, 2011, and 2013.
The Tampa Bay Rays' chief rivals are the Boston Red Sox and the New York Yankees. Regarding the former, there have been several notable on-field incidents.[6]The Rays also have an intrastate interleague rivalry with the National League (NL)'s Miami Marlins (originally the Florida Marlins), whom they play in the Citrus Series.

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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