Jay Ajayi was smart, took out an insurance policy for loss of value before torn ACL

Yahoo Sports

For many, many reasons, Philadelphia Eagles running back Jay Ajayi didn’t want his season to end with a torn ACL before Week 6.

But at least he protected himself financially.

Ajayi, who can become a free agent at season’s end, took out a loss-of-value insurance policy before the injury, according to NFL Network’s Ian Rapoport. The report said the policy can pay him up to $5 million, tax free, if he loses money in free agency as a result of the injury.

It’s not what Ajayi wanted, but it helps soften the blow of the injury.

Jay Ajayi protected himself in case of injury

Ajayi’s draft stock fell because of issues with his right knee. He has had a good career with the Miami Dolphins and Eagles in spite of that, but his past knee trouble is probably a reason he took out a policy this year and last year, according to Rapoport’s report. The ACL tear is in his other knee.

Philadelphia Eagles running back Jay Ajayi is out for the season, but took out an insurance policy in case he got injured. (AP)
Philadelphia Eagles running back Jay Ajayi is out for the season, but took out an insurance policy in case he got injured. (AP)

Rapoport, citing Ajayi’s business manager Josh Sanchez, said the policy can help make up the difference if Ajayi makes less than his market value because of the torn ACL, up to $5 million. Similar polices through the years have cost between $80,000 and $100,000. Ajayi’s salary this year was $1.9 million, so that was a significant price. 

It looks like a sound investment now.

Ajayi will be an interesting free agent

Ajayi’s free agency will be interesting. He has had a solid career, though he’s not quite a star. He’s just 25 years old though, and has had moments of excellence. He’s a big back with the ability to break a long gain, and that has a lot of value.

Ajayi is also a player who will have questions about both knees, at a position that NFL teams don’t greatly value in most cases. If some team signs him in March, it will be about five months after ACL surgery. That makes it a risky proposition.

But at least Ajayi made a smart choice and took out an insurance policy. Hopefully he doesn’t have to use it and some team pays him what he wants, but at least he has some peace of mind heading into free agency.

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Frank Schwab is a writer for Yahoo Sports. Have a tip? Email him at shutdown.corner@yahoo.com or follow him on Twitter!

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