Massive Contracts Involve Massive Risks

AP Photo

The extensions always sound great the day they are signed. Owner ponies up! Player agrees to stay! Shiny, happy people all around.

Not to sound like a grump, but check back in a few years, after the player’s body starts to betray him and his team starts wondering how to minimize the damage.

These $100 million contracts are the price of doing business, no doubt. Whether they qualify as good business is another question entirely.

The spending by teams in the last two months offers a staggering snapshot of a sport that is flush in cash — and a disturbing snapshot for anyone who has studied the history of such deals.

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