Philadelphia, PA – This year’s NFL draft is filled with talent at the Tight End position. One of the best of the bunch is former Michigan Wolverine Jake Butt. Butt came into the season projected as a first or second round talent, and backed it up on the field. He ended the season with 46 catches 546 receiving yards and 4 receiving touchdowns, enough to receive the John Mackey Award, as the nation’s top tight end.
The bigger story is how his season came to an end. Major college stars such as Christian McCaffrey, Leonard Fournette and Jabrill Peppers (Butt’s teammate at UM) decided to sit out their schools bowl games not wanting to risk injury. Unfortunately for the Michigan Tight End he opted to play in the Orange Bowl, where he would tear his ACL.
Fortunately, Butt and his family took out a loss-of-value insurance policy on himself before the 2016 season. Reports said that the loss-of-value insurance policy would give Jake $10,000 for each pick he did not get drafted after the middle of the third round, maxing out at $2 million dollars.
John Elway and the Denver Broncos would eventually draft Butt with the first pick in the fifth round. ESPN’s Adam Schefter and Darren Rovell are reporting that he will collect $543,000, tax free, due to his draft fall.
The Broncos believe Butt’s recovery is going well and it is possible he can return in September or October. This would most likely put him on the NFL’s Physically Unable to Preform (PUP) list. There are some people in the organization that want him to redshirt this season and be fully healthy for the 2018 season.
No matter what happens, the Broncos are getting a tough-minded player, who many scouts have compared to the Dallas Cowboys Jason Witten.
These loss-of-value insurance policies are becoming more common for top 50 prospects when heading into their final year of college football. Other players who collected on policies much like Butt’s are former South Carolina running back Marshon Lattimore and former Oregon cornerback Ifo Ekpre-Olomu.
Many might think if given the opportunity Butt would go back and opt out of the Wolverines bowl game. However, he said “I would do everything the same, no regrets.” Although, the insurance policy does not make up for the money he would have received if he would have been a first round pick, it does make up for some of it.
Jake Butt is just focused on rehabbing and coming back stronger than before, so he can prove to the Denver Broncos they made the right decision.