Colorado football coach Deion Sanders generated headlines last month when he announced the university had acquired record insurance for Heisman Trophy winner Travis Hunter and quarterback Shedeur Sanders.
Documents obtained by USA Today Sports shed further light on the insurance policy Colorado purchased before Buffalo’s 36-14 Alamo Bowl loss to BYU on Dec. 28. Although the university redacted the names of the players in the document, USA Today Sports identified Hunter and Shedure Sanders based on several factors.
Records show the school purchased $1 million in additional total disability (PTD) insurance for the bowl game, on top of its previous $20 million in PTD coverage for the year that began in August 2024.
“Adding $100 million in temporary coverage through Dec. 18, 2024 to cover the Valero Alamo Bowl through Dec. 29, 2024,” said Matthew Vokovich of Paradigm Gilbert, the company. the email to Colorado officials said. “There is currently $21,000,000 in current coverage for both players.”
After the bowl game, the coverage amount will revert to $20 million, according to another email. Fortunately, neither Hunter nor Shedule Sanders were seriously injured in the game.
Was it a good deal for Travis Hunter and Shedeur Sanders?
Extra insurance provides added peace of mind. But in this case, insurance industry experts felt it was odd to add $1 million in permanent disability coverage to one game when there was already a $20 million facility. The extra $1 million will cost the schools a premium of $1,030 each.
Richard Giller, a prominent sports insurance recovery attorney in Los Angeles, reviewed the documents at the request of USA Today Sports.
“It doesn’t make that much sense,” said Giller of Greenspoon Marder. “Maybe you just want to say you have $21 million, but I don’t see any reason other than to say it’s $1 million more than most other policies?”
Was it really the highest amount ever?
It’s not clear what exactly Deion Sanders was referring to on December 23rd. That’s when he said the players got “the highest coverage numbers ever covered in college football.”
Colorado Athletic Director Rick George was sitting next to the coach when he made that statement and said, “That’s correct.” He said the additional coverage was Sanders’ idea.
Eric Chenowis, a former Kansas State basketball player and founder of Leverage Disability and Life Insurance Services, said he was not aware of Colorado’s based statement on the “maximum” coverage amount. But he said he has two policies in place for $26 million in 2023 to two different college football players.
Colorado declined to elaborate, citing privacy laws.
“We stand by what Coach Prime and Coach Rick said in their press conference at the Alamo Bowl, which was based on the information available at the time,” Colorado athletics spokesman Steve said. Hurlburt said.
Messages sent to Vuckovich were not returned.
In other news: Colorado football sought minor NCAA violations under coach Deion Sanders in 2024
What did Colorado pay for this coverage?
The additional $1 million will cost $1,030 each in premiums, according to the document. Documents show other $20 million in premiums, each costing about $166,000 through different companies.
This document will also appear on major injury riders up to $250,000 if the player tears his Achllles tendon, if the player suffers other serious injuries.
Was playing in a bowl game worth the injury risk?
Depends on perspective. Hunter and Shedur Sanders both showed that playing in their final college game meant more to them than a financial risk calculation.
Other top college players chose not to play in bowl games because they did not want to risk their financial futures with injuries. Giller told USA Today Sports before the bowl game that there was “no reason at all why Hunter should be playing in what amounts to a meaningless bowl game and jeopardizing his financial future.” spoke.
If they had suffered a career-ending injury in their final college game, they would have tried to collect on that insurance. But that amount is likely far less than what he would earn in the NFL from future contracts and endorsement deals that come with NFL fame. Hunter and Sanders are both projected as top picks in the NFL Draft in April.
Last year, quarterback Caleb Williams, the top draft pick, signed a four-year contract worth nearly $40 million.
Follow reporter Brent Schrotenboer @schrotenboer. Email: [email protected]