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Report: Oregon CB Ifo Ekpre-Olomu Will Collect $3 Million From Insurance After Not Being Drafted In Top 3 Rounds

Update: Ifo Ekpre-Olomu was just selected by the Cleveland Browns with the 24th pick of the seventh round.

">May 2, 2015

Earlier: Oregon cornerback Ifo Ekpre-Olomu was once considered a potential first round pick, but after tearing his ACL in preparation for the College Football Playoff, teams have shied away from taking the Duck star. Ekpre-Olomu has not been selected so far, with just 23 picks remaining in the NFL Draft, but he does get a nice consolation prize after setting up an insurance policy before his final collegiate season. Because he didn't get selected in the first three rounds, Ekpre-Olomu will reportedly collect $3 million.

">May 1, 2015

NFL.com has more:

A $3 million insurance policy protecting Ekpre-Olomu, a former Oregon Ducks cornerback, from slipping in the draft triggered when the last compensatory pick of the third round -- the Cincinnati Bengals choice of TCU linebacker Paul Dawson -- was made with Ekpre-Olomu's name yet to be called.

According to ESPN.com, the insurance company, International Specialty Insurance, projected Ekpre-Olomu as the No. 12 overall pick of the first round at the time the policy was signed. Subsequently, Ekpre-Olomu's senior year ended when he tore knee ligaments during the Ducks' preparations for the postseason. According to the report, Ekpre-Olomu's policy was already triggered to pay a partial claim when he fell out of the first round, and now will pay out the full amount.

Congratulations to Ekpre-Olomu for the pay day, and of course, we hope that he latches on with a team before the day is up.

[NFL.com]