Former Oregon cornerback Ifo Ekpre-Olomu will be alright financially if he never plays an NFL, thanks to an insurance policy that will actually pay out.

Ekpre-Olomu is expected to be the first player to collect on a loss of draft value insurance, according CBS Sports.

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 that Ekpre-Olomu should expect that payment in 30-60 days. He fell to the 241st pick in the draft , where he was selected by Cleveland.

By Glenn Erby

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