You might remember that Tigers right-hander and 2013 AL Cy Young Award winner Max Scherzer rejected a six-year, $144 million contract extension from the Tigers in the spring. It was a calculated risk for a pitcher who could hit it big on the free agent market this winter. However, he has a Plan B if something goes terribly awry in the coming months.
Tom Verducci of SI.com has the story:
Scherzer revealed to SI.com that he took out an insurance policy that covers lost potential earnings if he is injured prior to hitting the free agent market this winter.
“This takes the injury risk out of it,” said Scherzer, who did not specify if the policy covered all or most of the $144 million.
It’s not like Scherzer will be hard-up for cash if hurts his arm tomorrow and never plays again. Including this year’s $15.525 million salary, he has made almost $30 million during his career. Still, it’s a smart and logical move for him. This kind of thing is probably more common than we realize, though Scherzer’s situation obviously commands more attention since he could fetch a $200 million deal this winter if all goes according to plan for him and his agent Scott Boras.
SportsDash: Jeff Passan explains why Scherzer’s arm is so expensive