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October 20, 2015Even though he won’t play a single snap this season, Cleveland Browns cornerback Ifo Ekpre-Olomu has collected a record $3 million insurance policy on Monday, according to ESPN Sports Business reporter Darren Rovell.
When the Browns selected Oregon cornerback Ifo Ekpre-Olomu with pick No. 241 in the 2015 draft, they knew there was a chance he could sit out the entire 2015-16 season due to a torn ACL injury and dislocated knee that he suffered in practice two weeks before the inaugural College Football Playoff semifinal playoff game at the Rose Bowl.
Luckily for the All-American cornerback who was projected to be a first or second round selection, Olomu and the University of Oregon invested in an insurance policy before his senior season. At the time the policy was made, the cornerback was projected to be a top-12 pick in the 2015 draft. Because of his injury, he dropped to the seventh round, which qualified him to receive the money from the policy.
The $3 million policy marks the largest such a settlement a college player has ever collected due to the loss of value policy, which insures the player in case he slips in the draft.
Even with his injuries and the fact that he will not play a single snap in the 2015-16 season, the Browns signed the cornerback, who is now currently on the Browns active/non-football injury list, hoping that the 5-foot-9, 190-pound cornerback can fully recover from his injuries and play like he did as an All-American at Oregon.
Whether he plays a single snap in the NFL or not, because Olomu signed an insurance policy, he is now a multi-millionaire.
11 Comments
He’ll probably end up being better than Justin Gilbert. But is that really saying much?
It’s enough.
But, he does have the potential when healthy to make us forget about Gilbert.
At least, that’s what Farmer is hoping…
This was a no lose draft pick that I am surprised no other team took a flyer on, esp those teams that knew they didn’t have many spots for rookies on roster. Hope he comes back to form!
Even thoughBecause he won’t play a single snap this season, Cleveland Browns cornerback Ifo Ekpre-Olomu has collected a record $3 million insurance policy on MondaySplitting hairs. Technically, the injury being worrisome at the time is the kicker on the insurance though being placed on IR certainly helped him in pleading his case.
it’s weird. teams worry about not having the full 90 on their preseason rosters. as if having 88 or 89 by saving a couple IR guys is going to truly hurt them.
True. I thought of that. I just don’t like that first sentence.
“Even though” suggests a contrasts between two points. “EVEN THOUGH that, this happened.” That really isn’t the case here though. He’s collecting $3M in insurance because of where he was drafted. Not playing a single snap doesn’t factor into the equation (or if it does, like you said, it’s played a tiny role).
So yeah, my because isn’t much better. But I still don’t like the “Even though”. It seems to suggest that he’s getting paid in spite of not even being able to make it on the field (“can you believe these lazy millenials!?!”).
“Olomu and the University of Oregon invested in an insurance policy before his senior season.”
Does this imply that Oregon paid the insurance premium, since he would not be permitted an agent before his senior year? If so, good for them. Elite athletes generate a ton of revenue for that school, and protecting their future livelihood while they perform is the right thing to do.
That’s fair.
Farmers picks all suck. Not holding much hope for this one either.
How many times have Browns fans lamented the fact that we didn’t draft the literal or metaphorical Tom Brady? Maybe he will be that pick? Maybe? Ok, never mind.