Rider pay questions

kbsci
Profile picture for user kbsci
Posts
402
Joined
1/7/2024
Location
Richmond, VA US
kbsci

When a rider is signed to a team and agrees to X amount of dollars per year, do they get paid bi-weekly/monthly like other jobs? All at once? Per race? And what happens if they have a season ending injury?

4
|
ML512
Profile picture for user ML512
Posts
16903
Joined
12/28/2008
Location
Wildomar, CA US
Fantasy
1498th
ML512 2/3/2024 2:21pm
2/3/2024 2:21pm

Usually monthly, and most contracts have some form of injury clause. The most common I’ve seen is if you are unable to test or race in a month period, you following payment is decreased by a prior agreed upon amount. And each following month you can’t test or race, it can further decrease.

8
Old School Fool 2/3/2024 4:11pm
2/3/2024 4:11pm

            Don’t most racers also purchase income replacement insurance ?  I have read several times that it is expensive, but in this sport it seems to be a wise investment. 

1
Austin_Rankin 2/4/2024 5:12am
2/4/2024 5:12am

I had a PRO MX/SX buddy that rode for teams and his family had to do a saftey deposit of like 40K and if he got hurt he got paid out of his deposit, not hurt deposit comes back…

 

not sure what the actual check was like… couldn’t have been a ton of $

2

The Shop

See All »
lumpy790
Profile picture for user lumpy790
Posts
11324
Joined
9/18/2007
Location
York, SC US
lumpy790 2/4/2024 8:15am
2/4/2024 8:15am
Old School Fool wrote:
            Don’t most racers also purchase income replacement insurance ?  I have read several times that it is expensive, but in...

            Don’t most racers also purchase income replacement insurance ?  I have read several times that it is expensive, but in this sport it seems to be a wise investment. 

I know there have been career ending injuries policy. 

dv12.com
Profile picture for user dv12.com
Posts
1538
Joined
8/15/2006
Location
Murrieta, CA US
dv12.com 2/4/2024 8:41am
2/4/2024 8:41am

Most common: Monthly

Bonuses: Added to the next month check. We had checks back then. It was always weird to try to deposit 6-figure checks at the bank as a 22 year old. They'd put the checks thru multiple microscopes and look at you like you were an alien... 

Smaller/Sketchier teams: Per race

Most top factory guys don't have injury clause. It's always in the original contract but gets taken out most of the time. My factory contracts originally came with an injury clause, got it taken out every time if the injury came from riding or training for moto. If it happened snowboarding or any other non moto related, i would've been f***ed. It's why I didn't ski from 1999 to after I retire. "Lesser" caliber riders and most 250 contracts have an injury clause. 

Income replacement insurance & disability insurance exist. Had both. 20 years ago a $2M disability insurance with the Loyds of London was $50k a year. Income replacement was a bit less. Another insurance we had was if I wanted to race exhibition races in the off season (Bercy, Barcelona, Genoa, Geneva), I had to get a $40k policy with Yamaha as the beneficiary to compensate my salary in case of injury. Those 3 insurances cost me over $120k a year.

24
yak651
Profile picture for user yak651
Posts
8609
Joined
8/26/2006
Location
Appleton, WI US
Fantasy
1252nd
yak651 2/4/2024 8:53am
2/4/2024 8:53am
dv12.com wrote:
Most common: Monthly Bonuses: Added to the next month check. We had checks back then. It was always weird to try to deposit 6-figure checks at...

Most common: Monthly

Bonuses: Added to the next month check. We had checks back then. It was always weird to try to deposit 6-figure checks at the bank as a 22 year old. They'd put the checks thru multiple microscopes and look at you like you were an alien... 

Smaller/Sketchier teams: Per race

Most top factory guys don't have injury clause. It's always in the original contract but gets taken out most of the time. My factory contracts originally came with an injury clause, got it taken out every time if the injury came from riding or training for moto. If it happened snowboarding or any other non moto related, i would've been f***ed. It's why I didn't ski from 1999 to after I retire. "Lesser" caliber riders and most 250 contracts have an injury clause. 

Income replacement insurance & disability insurance exist. Had both. 20 years ago a $2M disability insurance with the Loyds of London was $50k a year. Income replacement was a bit less. Another insurance we had was if I wanted to race exhibition races in the off season (Bercy, Barcelona, Genoa, Geneva), I had to get a $40k policy with Yamaha as the beneficiary to compensate my salary in case of injury. Those 3 insurances cost me over $120k a year.

Thanks for sharing!

1
inthebadboycorner 2/4/2024 9:55am
2/4/2024 9:55am
Old School Fool wrote:
            Don’t most racers also purchase income replacement insurance ?  I have read several times that it is expensive, but in...

            Don’t most racers also purchase income replacement insurance ?  I have read several times that it is expensive, but in this sport it seems to be a wise investment. 

Although similar to my income blue colar protection, it is very costly, each year it increases, even without claiming.

It a fucking crime in itself.

1
8tensolutions
Profile picture for user 8tensolutions
Posts
3334
Joined
11/15/2009
Location
Salt Lake City, UT US
8tensolutions 2/4/2024 10:02am
2/4/2024 10:02am
dv12.com wrote:
Most common: Monthly Bonuses: Added to the next month check. We had checks back then. It was always weird to try to deposit 6-figure checks at...

Most common: Monthly

Bonuses: Added to the next month check. We had checks back then. It was always weird to try to deposit 6-figure checks at the bank as a 22 year old. They'd put the checks thru multiple microscopes and look at you like you were an alien... 

Smaller/Sketchier teams: Per race

Most top factory guys don't have injury clause. It's always in the original contract but gets taken out most of the time. My factory contracts originally came with an injury clause, got it taken out every time if the injury came from riding or training for moto. If it happened snowboarding or any other non moto related, i would've been f***ed. It's why I didn't ski from 1999 to after I retire. "Lesser" caliber riders and most 250 contracts have an injury clause. 

Income replacement insurance & disability insurance exist. Had both. 20 years ago a $2M disability insurance with the Loyds of London was $50k a year. Income replacement was a bit less. Another insurance we had was if I wanted to race exhibition races in the off season (Bercy, Barcelona, Genoa, Geneva), I had to get a $40k policy with Yamaha as the beneficiary to compensate my salary in case of injury. Those 3 insurances cost me over $120k a year.

Great stuff DV!  Thanks for sharing!

1

Post a reply to: Rider pay questions