I'm a little late on this story but, I guess, so is Jeff Bagwell. Last week, Houston Astros great, Jeff Bagwell, announced his retirement after 15 years in the big leagues. I can't say I've ever been a fan of Bagwell but I'm no hater. He had a great career. Maybe even Hall of Fame worthy. However, I wonder why it took so long for him to announce it.Bagwell has barely played in the last two years and he didn't even play this year. So, why the wait? Well, it appears the Astros have reached a settlement with its insurance company on a breach of contract claim. The Astros had a policy that would pay Bagwell's 2006 salary--$17 million--if he could not play that season. The settlement terms aren't public but I'm sure Houston got a good chunk of change and now Bagwell is retiring. Coincidence? I think not. But according to Astros officials it was just dumb luck.
It was a total coincidence that this occurred about the same time that Jeff's announcement of his retirement (did)," Fisher said. "We ... got together and resolved it. It's over and done with.
I imagine if Bagwell retired he wouldn't get that $7 million buyout from Houston and the 'Stros probably couldn't get any money from the insurance company. In the end, it always comes down to money, doesn't it?
2 comments:
The insurance policy was for his 2005 salary. The Astros announced right after the season ended that they were going to exercise the buy out. It took so long for him to officially announce his retirment because he was considering playing somewhere else. He even filed for free agency.
I don't know about the free agency part but the article I link to says the policy was for the 2006 salary.
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