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Derek Cox deal illustrates the problem with injury-only guarantees

Cox AP

When a player signs a big-money contract, two numbers usually get leaked, if any — the total value and the amount of guaranteed money.  There are two types of guaranteed money, and we always (or at least usually) try to point out the difference.

First, there’s fully-guaranteed money, which the player definitely will get upon signing the contract.  Second, there’s money guaranteed for injury only, which becomes guaranteed only if the player gets (wait for it) injured.

Typically, money guaranteed for injury only eventually becomes fully guaranteed, unless the player is cut.  For example, the $4.25 million in guaranteed base salary (injury only) for 2014 would have become fully guaranteed if Chargers cornerback Derek Cox were on the roster next Thursday.

That’s why he was cut.  And that’s why reports of Cox signing a deal with $10.25 million guaranteed ultimately were $4.25 million too high.

We’ll try to keep those facts straight in the coming days, as more and more deals are done, and as many reports list more guaranteed money than what may ultimately be guaranteed.

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9 Responses to “Derek Cox deal illustrates the problem with injury-only guarantees”
  1. thestrategyexpert says: Mar 4, 2014 4:29 PM

    There should be a federal mandate that all 1st grade English studies cover the word “guaranteed” for at least a 10 minute discussion. Cut this misunderstanding off at the source before more economic principles fly out the window in the future.

  2. touchdownroddywhite says: Mar 4, 2014 4:45 PM

    What about monies guaranteed for skill?

  3. bcajun says: Mar 4, 2014 5:20 PM

    Come to the saints derek thats where you should of signed last year

  4. shecklesmckenzie says: Mar 4, 2014 5:27 PM

    There are 3 types of guarantees: skill, cap and injury.

  5. jagsfan1 says: Mar 4, 2014 5:30 PM

    He played well for the Jags – when he was on the field. The problem was that he is one of those guys who trips over a blade of grass and gets hurt every time you turn around.

    “can’t make the club in the tub”

    ” best ability is availability”

  6. jagmankane says: Mar 4, 2014 5:32 PM

    Real solid corner. Can’t stay healthy though.

  7. chargrz says: Mar 4, 2014 6:31 PM

    Cox was cut because he could not cover anything. The absolute worst corner i have ever seen.Could not cover a bed with a blanket.

  8. greysolon says: Mar 4, 2014 9:40 PM

    He was just terrible last season– terrible. That had to be the worst group of CBs the Chargers have had in their entire history.

  9. natelan69 says: Mar 5, 2014 6:56 AM

    This guy lost two games for the Chargers this year, all by himself. Adios, Casper.

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