The torn ACL that Oregon cornerback Ifo Ekpre-Olomu suffered while preparing for the college football postseason in December is almost certainly the reason why he hasn’t been picked at this point in the 2015 draft, which is exactly why the school purchased an insurance policy to protect the player financially before the start of his final college season.
Ekpre-Olomu was insured against an injury that ended his career as well as one that caused him to lose value by virtue of a tumble down the draft board. The cornerback’s policy, which cost the school $40,000 in a relatively new move that schools have used for pro prospects who might otherwise go pro, and calls for a $3 million payout because Ekpre-Olomu slipped below the first picks of the third round.
As those who have dealt with insurance companies may know, the road from calls for to pay out isn’t always a smooth one. Darren Rovell of ESPN reports that no college player who had a loss of value policy has ever collected and notes that USC Marqise Lee is trying to collect on money he believes he’s owed after dropping to the 39th pick in 2014.
Texas A&M tackle Cedric Ogbuehi had a similar policy bought for him by the school and also tore his ACL in the postseason, but he wound up going in the first round to the Bengals.