Kobe Bryant, the Los Angeles Lakers guard, scored 25 points after signing a new contract with the franchise.
Kobe Bryant, the Los Angeles Lakers guard, scored 25 points after signing a new contract with the franchise.
Kobe Bryant, the Los Angeles Lakers guard, scored 25 points after signing a new contract with the franchise.
Kobe Bryant, the Los Angeles Lakers guard, scored 25 points after signing a new contract with the franchise.

Bryant tied to three-year contract


  • English
  • Arabic

Kobe Bryant celebrated signing a new three-year contract extension with Los Angeles Lakers by pouring in 25 points to help his team beat Utah Jazz 106-92. The Lakers made the announcement before the game started and it showed as the All-Star guard played with the extra verve.

Bryant, the 2009 NBA Finals Most Valuable Player, is the all-time leading scorer for the franchise and the 31-year-old is regarded by many as the best all-round player of his era. "We are extremely pleased we were able to reach an agreement and come to terms on the extension," said Mitch Kupchak, the general manager. "Kobe has been a cornerstone of the Lakers for well over a decade, helping to lead us to four NBA championships and in the process developing into one of the greatest players in basketball history."

The Lakers did not disclose the financial terms of the deal. With Bryant's signing following Pau Gasol's contract extension earlier this season, Kupchak said two of the main targets for the Lakers had now been completed. "We were able to accomplish those goals, helping to keep the core of this team intact for the foreseeable future and in turn help to ensure the franchise's continued success over the years to come," he added.

Bryant, a 12-time All-Star, was initially acquired by the Lakers from the Charlotte Hornets in exchange for Vlade Divac in July 1996. The youngest player in the NBA to score 25,000 points, Bryant is averaging 27.2 points, 5.3 rebounds and 5.1 assists this season. He added another 25 points to his haul but he was upstaged by Lamar Odom who top-scored with 26 as the Lakers avoided a third consecutive defeat, while Carlos Boozer was the most successful Jazz player on the night with 20 points. In other on-court action, the NBA-leading Cleveland Cavaliers downed Atlanta Hawks 93-88 to reach the 60-wins mark for the second successive season - thus becoming only the ninth team to do so.

LeBron James moved up a gear in the second half, finishing the game with 27 points and 13 rebounds, as the Cavaliers (60-16) secured their 10th consecutive home win. "Our goals are huge - much bigger than winning 60 games or clinching home court or anything like that," James however said. "But you can't take something like that for granted. When those goals happen, you embrace it." Atlanta kept the game close until the fourth quarter when they went more than six minutes without a field goal. Cleveland then scored 14 consecutive points at one point in the quarter.

The Cavaliers are 34-4 in Cleveland this season and have won 17 of their last 19 games overall. Rajon Rondo shattered Bob Cousy's 50-year Boston record for single-season assists when he collected 10 against Houston on Friday to reach 724. The Hall of Famer, Cousy's 715 had stood as the franchise mark since the 1959-60 season. The Celtics lost 119-114 in overtime to the Rockets. * Agencies

Types of policy

Term life insurance: this is the cheapest and most-popular form of life cover. You pay a regular monthly premium for a pre-agreed period, typically anything between five and 25 years, or possibly longer. If you die within that time, the policy will pay a cash lump sum, which is typically tax-free even outside the UAE. If you die after the policy ends, you do not get anything in return. There is no cash-in value at any time. Once you stop paying premiums, cover stops.

Whole-of-life insurance: as its name suggests, this type of life cover is designed to run for the rest of your life. You pay regular monthly premiums and in return, get a guaranteed cash lump sum whenever you die. As a result, premiums are typically much higher than one term life insurance, although they do not usually increase with age. In some cases, you have to keep up premiums for as long as you live, although there may be a cut-off period, say, at age 80 but it can go as high as 95. There are penalties if you don’t last the course and you may get a lot less than you paid in.

Critical illness cover: this pays a cash lump sum if you suffer from a serious illness such as cancer, heart disease or stroke. Some policies cover as many as 50 different illnesses, although cancer triggers by far the most claims. The payout is designed to cover major financial responsibilities such as a mortgage or children’s education fees if you fall ill and are unable to work. It is cost effective to combine it with life insurance, with the policy paying out once if you either die or suffer a serious illness.

Income protection: this pays a replacement income if you fall ill and are unable to continue working. On the best policies, this will continue either until you recover, or reach retirement age. Unlike critical illness cover, policies will typically pay out for stress and musculoskeletal problems such as back trouble.

The bio

His favourite book - 1984 by George Orwell

His favourite quote - 'If you think education is expensive, try ignorance' by Derek Bok, Former President of Harvard

Favourite place to travel to - Peloponnese, Southern Greece

Favourite movie - The Last Emperor

Favourite personality from history - Alexander the Great

Role Model - My father, Yiannis Davos

 

 

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law