If Teddy Bridgewater slides in the draft, he could cash in.
The Louisville quarterback, who once was considered a top-10 shoo-in but now has heard talk of a sinking draft stock, fortunately took out a loss-of-value insurance policy after the end of the football season, per ESPN.com's Darren Rovell.
If Bridgewater falls out of the first round, and can prove that an injury or an illness was the reason for the fall, Bridgewater stands to earn a tax-free $5 million from the policy.
After purchasing a $10 million total disability injury policy, per the report, Bridgewater supplemented it with $5 million in loss-of-value insurance. That policy is connected directly to the injury policy, meaning the only way he can collect from a draft fall is if it's because of being hurt or ill.
The loss-of-value policy cost Bridgewater less than $20,000, and that's when he was projected to be a top-five pick. According to the report, he'd stand to start collecting money if he falls out of the top 11. From there, every slot Bridgewater falls, he could add hundreds of thousands of dollars from the policy.
Of course, there's that whole loss of salary thing. The difference in 2013 between the guaranteed money of the top pick in the draft to the 33rd pick — the first of the second round — was about $15 million.
There's also no guarantee that Bridgewater actually could prove he was hurt to collect the dollars. You know, if he falls ...
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