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Former Alabama lineman Chance Warmack makes NFL history by collecting loss-of-value insurance policy
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Every football player grows up dreaming of making the NFL history books. Well, in a sense, Chance Warmack has just etched his name into NFL history as he becomes the first professional football player in the league’s history to collect on the loss-of-value insurance policy.
Not the ideal way to make the history books but at least Warmack is getting paid following this milestone.
According to ESPN’s Darren Rovell, Warmack is the first player to collect on the loss-of-value insurance policy after having the foresight to take out the policy early in his professional career. After entering the league as a first-round selection, Warmack’s career has failed to live up to its full potential after battling thru injuries during his professional career.
Warmack’s policy was set to kick in if his second NFL contract was for less than $20 million. Warmack signed a $1.5 million deal with the Eagles this offseason, obviously well short of what his policy required. The Eagles lineman is now set to be paid $3 million via his loss-of-value insurance policy.
A graduate of the University of Tennessee, Michael Wayne Bratton oversees the news coverage for Saturday Down South. Michael previously worked for FOX Sports and NFL.com
