Jake Butt was not selected during the first two days of the NFL draft, a sign that teams are cautious about the tight end’s torn ACL.
The slip in the draft could be costing Butt lots of money. Luckily for the former Michigan star, he reportedly is cashing in anyway due to an insurance policy.
According to ESPN’s Adam Schefter and Darren Rovell, Butt is making $10,000 for every pick he is not taken. Schefter says that total is already near $150,000, so the policy appears to have gone into effect around the 92nd overall selection — an estimate of where Butt could’ve been picked prior to the injury.
Michigan TE Jake Butt has insurance policy and gets $10,000 every pick not picked, per @darrenrovell; has collected about $150,000 so far.
— Adam Schefter (@AdamSchefter) April 29, 2017
Six tight ends were drafted in the first three rounds, including three in the first round. Butt is considered the second-best tight end still available by NFL.com, and he could very well hear his name called in the fourth round on Saturday afternoon.