Ifo Ekpre-Olomu is expected to be the first player to collect on a loss of draft value insurance, according to the man who underwrote the policy.
Keith Lerner told CBS Sports Thursday night that Ekpre-Olomu is in the process of collecting a $3 million claim after suffering a season-ending knee injury in December. The All-American corner, projected to be a first-round draft choice last May, slipped to the seventh round after blowing out his ACL before the College Football Playoff National Championship.
“That claim is close to getting paid,” said Lerner, the Gainesville, Florida-based head of Total Planning Sports Services.
Lerner added the claim should be paid in the next 30-60 days. Ekpre-Olomu was the 241st player taken in the draft by Cleveland.