Insurance Policy Gives Chicago Bulls A Break With Derrick Rose Saga

By Devin O'Barr

The Derrick Rose situation in the Windy City is one of the most complex, disappointing and scary situations in the history of the NBA. Rose missed all of the 2012-2013 regular season and is likely to not even play in a playoff game after tearing his ACL a little less than a year ago. The Chicago Bulls have done their best keeping the saga under wraps, but it’s nearly impossible to do.

While the scenario is entirely awful, the good news is that the Bulls organization saved over $6M by having insurance on Rose’s contract. MetLife is responsible for offering NBA franchises insurance for the top-five moneymakers on each team, but they do have the right to decline insurance to players with a history of injury. For example, not a penny of Amare Stoudemire‘s max contract in 2010 was insured by Metlife due to the player’s recurring history with surgically repaired knees. This should have been a glaring red flag for the New York Knicks initially.

Rose was set to make $16,402,500 in 2013, but because they took out an insurance policy on Rose, Metlife will cover $6,561,000 of the massive deal. The new collective bargaining agreement in the NBA states that a deductible kicks in when the player misses 41 games in the season. Thankfully, Rose missed all 82 games, so the Bulls will not have to pony up all of his contract for a wasted campaign.

Even if the Bulls find a way to make it out of the first round against the Brooklyn Nets, the 2013 season will be remembered as the year in which Rose decided to sit out the entire season even though he was medically cleared with a month left in the regular season. I’m sure general manger Gar Forman would gladly pay all of Rose’s yearly salary if it meant he would have number one in the lineup, but at least the cap-strapped Bulls can save some money amidst this debacle.

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