During a practice in January prior to the College Football Playoff, former Oregon Duck defensive back Ifo Ekpre-Olomu suffered a horrendous knee injury that forced him to miss the the playoff games. Ekpre-Olomu was projected as a first round pick in the 2015 NFL Draft, but he ended up dropping all the way to a seventh round pick.
His drop potentially cost him millions of dollars, so he decided to cash in on a special insurance policy that the Ducks implemented a few years ago. According to College Football Talk, Ekpre-Olomu will be the first former Duck to cash in on the loss-of-value policy following his injury.
NCAA member schools have what’s called the Student Assistant Fund at their disposal, a device that can be utilized “to assist student-athletes in meeting financial needs that arise in conjunction with participation in intercollegiate athletics, enrollment in an academic curriculum or that recognize academic achievement.”
When he cashes in the policy, Ekpre-Olomu will receive around $3 million. The policy is worth around $3 million and the premium is set at around $8,000 per million, setting Oregon back $24,000.
*Featured Photo (above) credit to USA TODAY Sports