New York Giants wide receiver Odell Beckham Jr. is considering purchasing an insurance policy should he and the Giants fail to reach an agreement on a long-term contract extension before the 2017 regular season begins, Yahoo Sports' Charles Robinson reported Tuesday.
The policy could pay out at least $100 million, with sources telling Robinson it would likely cost Beckham around $600,000.
One of Robinson's sources said the three-time Pro Bowler will "take steps to protect himself" should he be unable to get a new contract with the Giants but that an extension remains his preferred option.
Beckham had an injury scare in his team's 10-6 defeat to the Cleveland Browns on Monday at FirstEnergy Stadium. The Giants announced he suffered a sprained ankle, and the New York Post's Paul Schwartz reported he'll have an MRI on Tuesday to determine the full extent of the injury.
Beckham has two more years left on his deal with the Giants. He told UNINTERRUPTED in July he wants to become the highest-paid player in the NFL with his next contract:
Pittsburgh Steelers star Antonio Brown is the highest-paid wide receiver, earning $17 million annually, per Spotrac. Depending on the length of the deal, Beckham's next contract could eclipse $100 million if he tops Brown's average salary.
Giants co-owner John Mara said in July the team wants to re-sign Beckham but didn't give any hint as to when the sides could complete an agreement.
"There's no reason to rush into this," Mara said, per NJ Advance Media's Dan Duggan. "He's going to get paid a lot of money at the appropriate time. You can argue that the appropriate time is now, but you can argue both sides of that, I guess. It will happen when it happens."
As long as he stays healthy, Beckham stands to receive a hefty payday when he receives his extension. He's third in receiving yards (4,122) and tied for first with Brown in touchdowns (35) among wide receivers since entering the league as the 12th overall pick in 2014, according to Pro Football Reference.
A major injury could seriously diminish Beckham's earning power, though, so pursuing an insurance policy would ensure he gets paid one way or the other.