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The New York Jets made a splash when they traded for Aaron Rodgers from the Packers and inked him to a 2-year, $75 million guaranteed deal, but they made a big mistake in the process.
Turns out they passed on insurance for the 39-year-old quarterback, and it might have cost them about $20 million.
According to Sportico’s Daniel Libit, the Jets were approached by multiple companies about signing an insurance policy for Rodgers, but they waved them off. Then, of course, one game into the season and Rodgers tore his Achilles tendon.
Aaron Rodgers was injured and helped off the field on the first Jets drive vs. the Bills. pic.twitter.com/vtKHRW566V
— ESPN (@espn) September 12, 2023
It turns out, insuring star players isn’t uncommon in the NFL. Back when Rodgers was with the Packers, they did routinely purchase disability insurance. This type of coverage, known as temporary total disability (TTD) policies, can save a team a boatload of money if their star player goes down.
Sources tell Sportico the policies offered to the Jets had premiums ranging from about $1 million to $4 million.
The NBA and NHL make it a rule for teams to insure their top-paid players, but the NFL and MLB leave it up to the teams. And guess what? The Jets under owner Woody Johnson haven’t done this in at least a decade, per the Sportico report.
Richard Giller, an insurance expert, had some choice words about the Jets’ decision. “If they actually had an offer to insure a 39-year-old quarterback with 19 years of service, they should have taken it at any cost,” he said to Sportico. “I know hindsight is 20/20, but he is a 39-year-old quarterback.”
The Jets might’ve let a big opportunity slip through their fingers, and now they’re left to deal with the consequences.
Woody Johnson, who bought the team for $635 million back in 2000, probably wishes they’d made a different call. It ended up costing him big time.