Following the news that David Beckham's proposed loan move to Tottenham Hotspur was being affected by insurance issues, Manchester-based broker CBG group has calculated the insurance cost for the short-term loan as being a minimum of £300,000.
Dave Mackie, group business development director at CBG, said: "Having suffered an Achilles injury while on loan at AC Milan last year, adequate insurance to protect Beckham while he's in the UK - in addition to protecting LA Galaxy's investment in him - is essential.
"Insurers calculating a premium would need to take into account his past injuries, age and current physical condition. An estimate for his insurance premium could easily start from £300,000 upwards, depending upon the type and level of cover selected - all of which is subject to the appetite of the schedule of insurers, which is necessary to provide such a high level of cover."
The broker explained that players are usually insured for loss of wages after a determined period, a career-ending injury or a mixture of both.
One insurance professional, who declined to be named, expressed incredulity that insurance was causing the delay. The source commented: "It is highly unlikely that insurance would scupper the deal. It is probably a smokescreen."
David Beckham is currently in negotiations to join Tottenham ahead of returning to LA Galaxy for the first match on 15 March.
Article courtesy of Insurance Age
