Toronto Maple Leafs


Toronto Maple Leafs

Toronto Maple Leafs 2016 logo.svg

The Toronto Maple Leafs (officially the Toronto Maple Leaf Hockey Club and often simply referred to as the Leafs) are a professional ice hockey team based in TorontoOntario. They are members of the Atlantic Division of the Eastern Conference of the National Hockey League (NHL). The club is owned by Maple Leaf Sports & EntertainmentLtd. and are represented by Chairman Larry Tanenbaum. With an estimated value of US $1.45 billion in 2018 according to Forbes, the Maple Leafs are the second most valuable franchise in the NHL, after the New York Rangers.[3] The Maple Leafs' broadcasting rights are split between BCE Inc. and Rogers Communications.[4] For their first 14 seasons, the club played their home games at the Mutual Street Arena, before moving to Maple Leaf Gardens in 1931. The Maple Leafs moved to their present home, Scotiabank Arena (originally named the Air Canada Centre) in February 1999.
The club was founded in 1917, operating simply as Toronto and known then as the Toronto Arenas. Under new ownership, the club was renamed the Toronto St. Patricks in 1919. In 1927 the club was purchased by Conn Smythe and renamed the Maple Leafs. A member of the "Original Six", the club was one of six NHL teams to have endured through the period of League retrenchment during the Great Depression. The club has won thirteen Stanley Cup championships, second only to the 24 championships of the Montreal Canadiens. The Maple Leafs history includes two recognized dynasties, from 1947 to 1951; and from 1962 to 1967.[5][6] Winning their last championship in 1967, the Maple Leafs' 50-season drought between championships is the longest current drought in the NHL. The Maple Leafs have developed rivalrieswith three NHL franchises, the Detroit Red Wings, the Montreal Canadiens, and the Ottawa Senators.
The Maple Leafs have retired the use of thirteen numbers in honour of nineteen players. In addition, a number of individuals who hold an association with the club have been inducted in the Hockey Hall of Fame. The Maple Leafs are presently affiliated with two minor league teams, the Toronto Marlies of the American Hockey League, and the Newfoundland Growlers of the ECHL.

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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