``About $10 Million''
With NFL teams currently saying wide receiver Dwayne Jarrett is a mid-to-late first round draft pick, would it have made a difference if he returned for his senior season and cracked the top 10?
``We're only talking about $10 million,'' one coach said.
Oh well, what's done is done. Better hope he does something in the pros.
And if Jarrett stayed for his senior year and blew his knee out...what would be his worth in the 2008 draft?
He mostly would have gotten a multi million dollar insurance policy to cover his senior year... similar to the one Matt L got.
Would the payoff from that insurance policy that would cover his senior year be more or less than he gets this Spring for leaving for the NFL a year early?
I am not in favor of all these guys leaving school early...the NFL is rough you need all the experience you can get. Look what happened to Mike Williams.
I hope he does well also. I get alot of abuse about how USC WR "never do anything in the NFL"
(Kareem Kelly, K. Colbert, D. byrd, M. Williams, etc.)
Who picks up the tab for the insurance policy? His agent? The Trojan slush fund? Sales from his allotted football tickets?
Who cares, he was lazy and dropped too many balls to count on while at USC.
Insurance policies, like the one Matt picked up or Willis McGahee, who actually used it, are normally paid by the families prior to the start of the season since if an agent paid for it, it would be a violation of their final season of college eligibility. Often times an insurance company will waive part of the fee if the family is poor on the basis of future earnings and charge interest in the unpaid balance, although the NCAA frowns on it as in-kind contribution, especially if anyone associated with the insurance company is a booster of the school the player belongs to, which is why so few athletes take out this kind of policy.
On average, only one or two athletes a year take out this kind of policy since the premiums are so enormously expensive. The estimated payout is based on a formula insurance companies use based on future earnings, but the policy is only valid if they have a career ending injury.
In McGahee's case, since he was able to recover and play in the NFL, he had to pay back the insurance company for the benefits paid out when he blew his knee out.
The payout for athletic insurance is never as much as how much the athlete would have actually gotten paid if he stayed healthy since it does not take into consideration revenue from endorsements, autographed memorabilia or appearance fees, all of which goes out the door if the athlete never plays again.