Jake Butt makes serious cash after low NFL Draft pick by Broncos

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The NFL Draft has come to a close where fans witnessed dreams being made and some disappointments grow, “Butt” one of the best stories from the draft finale was from Jake Butt who collected over half a million dollars from a “loss-of-value” insurance policy to go with being drafted by the Denver Broncos.

Butt fell back on the policy after tearing his ACL in the University of Michigan’s Orange Bowl game, the last game of the season.

The policy came into effect after not being drafted within the first three rounds where Butt was paid $150,000 with an additional $10,000 for every spot he fell after the middle of the third round. The policy would have ma

As a result being selected 145th overall by the Broncos, the first pick in the 5th round, Butt tallied a total of $543,000 of tax-free insurance money.

The policy had a cap of $2 million.