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Report: FSU will pay part of Jameis Winston’s insurance policy

Jameis Winston

Florida State protects its assets, and the school’s primary asset at the moment is quarterback Jameis Winston.

The school agreed to pay part of Winston’s $10 million disability and loss of value insurance policy, according to ESPN.com’s Jared Shanker.

The amount Florida State will contribute hasn’t been publicly revealed, but the estimated premium on the policy is in upwards of $60,000.

Florida State will pay its share out of the school’s Student Assistant Fund. The Student Assistant Fund was created “to assist student-athletes in meeting financial needs that arise in conjunction with participation in intercollegiate athletics, enrollment in an academic curriculum or that recognize academic achievement.”

Winston is the second high-profile NFL prospect to receive similar assistance. Texas A&M did the same for offensive tackle Cedric Ogbuehi to help sway his decision.

Florida State head coach Jimbo Fisher fully advocates this type of assistance to keep athletes in school.

“To me, that’s the greatest thing that’s going on in college sports today because it keeps kids in school,” Fisher said during ACC Media Days. “They all want to leave for the money. If I know the money is guaranteed, I can stay and get a college degree.”

Florida State is clearly investing long-term in their Heisman Trophy winner. Winston, who led Florida State to an ACC title and a national championship, is eligible to leave for the NFL after this season. By investing in Winston now, it could persuade the quarterback to stay in Tallahassee beyond the spring of 2015.

After all, Winston’s father, Antonor Winston, already wants his son “to succeed with one more year in baseball and two more years in football.”

Florida State just may have bought itself a little more time.

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10 Responses to “Report: FSU will pay part of Jameis Winston’s insurance policy”
  1. titansbro says: Aug 4, 2014 11:35 PM

    Key word in that last sentence; “bought.” Actually, I’m all for paying college players a little something.

  2. Stephanie says: Aug 5, 2014 12:05 AM

    FSU had better hope he stays out of trouble!

  3. defeetrexryan says: Aug 5, 2014 1:33 AM

    Imagine all the crab legs you could get with $10MM!

  4. sailbum7 says: Aug 5, 2014 2:49 AM

    If this convinces him to stay in school and get his degree then I think it is money well spent. Too many top college athletes do not complete their degrees because they are afraid of getting hurt and missing out on the big money in the NFL. Unless they feel that their value in the draf will go up considerably by remaining an additional year or two, many of them choose to head for the NFL after only two years in college. The problem is that if they then get hurt early in their NFL careers they do not have the college degree to all back on. This is a bigger problem for the players that go in the later rounds who do not get the seven figure salary and eight figure signing bonus.

  5. jmb795 says: Aug 5, 2014 6:40 AM

    It is my understanding that these funds are disbursed to member schools by the NCAA. Each SEC school, I believe, received $350k last year.

  6. friarjack61 says: Aug 5, 2014 8:42 AM

    Have the NFL start a MINOR LEAGUE< as baseball, then we can eliminate these costs, and get back to having 'student athletes' on campus, and save money for education, instead of spoiled, non-student jocks.

  7. 8to80texansblog says: Aug 5, 2014 10:20 AM

    @sailbum

    For the fringe guys, that are looking at the later rounds… yeah I agree, get that degree. But a guy like Winston, he’s a moron if he stays past this year.

    If he’s projected to be a top 5 or better pick, he’s stupid to stay, and the excuse that academics is important shows just how immature he really is.

    Because by playing another year at FSU, he is first and foremost, forgoing a year of extremely high income. He’s also risking getting injured or even having his play regress (Matt Barkley). This is a $20+mm risk. He’s got a insurance policy to cover part of this risk, but only against injury, not against play regression. And Clowney got $22mm guaranteed. So that’s a minimum of $12mm in unhedged risk.

    And he’s taking this additional risk on for what? The opportunity to get a college degree? The average college graduate makes $45k a year right out of school. If his salary grew at a normal rate of 3% per year, it would take him 83 years to earn what Clowney did in his first year.

    School will always be there if he wants to go back. The big NFL payday… will not.

  8. noaxetogrind says: Aug 5, 2014 2:18 PM

    Everybody on here makes some good points. Sometime the simplest ones are the best. Doesn’t it strike all of us as “something is out of control” when a university is paying a 60K premium to keep a kid playing football ( or any other endeavor). I think the athlete in question should just make whatever decision is right for them. If going pro is the right decision then so be it and go with our best wishes. If you choose to stay in school for whatever your reasons, so be it, but YOU assume the risk or YOU pay for your insurance just like every other person has to in real life. I get that this is a prudent business decision by FSU, but that is my whole point. Its sad now that we are openly up front about the fact that the athletes value is strictly about their monetary value to the school. We are not even faking it anymore. If this was about the well being of student athletes schools like FSU could guarantee them free tuition and medical insurance for 10 years after they eligibility expires. Of course if you do that you have to do it for every player, not just the ones who make you the big money. This is not an anti Jameis or FSU rant. This is a rant against just how far down the slippery slope college athletics has gone.

  9. florida727 says: Aug 5, 2014 3:04 PM

    I wholeheartedly agree with #8to80texan’s thoughts. When you’re assured that much money, you’d be foolish to hang around campus any longer. That kind of money is “generational wealth” If you genuinely want a degree, go back after you’ve taken care of your grandkid’s grandkids.

    That said, I really do have a problem with a school paying for a student’s insurance policy. And more to the point, does this policy, if a claim is filed against it, pay the SCHOOL for ‘injury and loss of value’? If it pays the PLAYER, then it’s wrong for the school to pay the premium.

    Where in the definition of the fund does it say it’s to be used for insurance policies on star athletes? Since when is an insurance policy a “financial need”, because it certainly doesn’t qualify under “enrollment in an acedemic curriculum” or “recognize academic achievement”?

  10. kando53 says: Aug 5, 2014 6:24 PM

    Hope the school and the SEC get sued good and proper for this one.

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