The Garbajosa Situation

The Raptors only reluctantly tolerated Garbajosa playing in the Madrid-based European championship after the Spanish basketball federation bought an insurance policy that cost about $1 million (all figures U.S.) for approximately three months’ coverage on Garbajosa’s NBA contract. The $1 million sum underlines the huge risk Garbajosa was taking. Projected over a full year, the policy was worth about $4 million. The two-year remainder of Garbajosa’s NBA contract only totals approximately $8 million. It was as though he owned, say, a $100,000 Porsche and, so mortified was the insurance company of the prospect of him driving it, his annual premium was set at $50,000. The policy expires Friday, so the Raptors are hoping the insurer will pick up a large chunk of Garbajosa’s salary. It will almost certainly be the club’s contention that Garbajosa has sustained further injury since the policy was purchased.

Toronto Star