Devonta Freeman Takes Out $10 Million Insurance Policy During Contract Talks

Atlanta Falcons running back Devonta Freeman has reportedly taken out a $10 million insurance policy while trying to work out a long-term contract extension with the organization.

On Friday, Michael Silver of the NFL Network (via Conor Orr of NFL.com) reported Freeman has paid around $50,000 to obtain the policy "protecting him against next season if he and the Falcons, who are trying to hammer out an extension, are unable to get that done."

Freeman has posted back-to-back 1,000-yard rushing seasons for the Falcons, who selected him in the fourth round of the 2014 draft. He's coming off a 2016 campaign that saw him finish with 1,541 yards from scrimmage and 13 total touchdowns.

The 25-year-old Florida State product added 330 total yards during Atlanta's playoff run, which concluded with an overtime loss to the New England Patriots in Super Bowl LI.

Freeman said Friday he's been in regular contact with team owner Arthur Blank, which gives him confidence the situation will work itself out, per Vaughn McClure of ESPN.com.

"I've been talking to Arthur Blank—I call him AB—I've been talking to him about the whole contract situation," he said. "That's my guy. We text. We talk. That's why I try to tell the media we have an understanding. As long as we have an understanding, everything is going to be all right and everything is going to take care of itself."

Meanwhile, Will McFadden of the Falcons' official website noted earlier in the week that general manager Thomas Dimitroff hoped to get the deal settled before training camp started Thursday.

"I've always said that I think it's going to be a fairly expeditious negotiation, but you never know," he said. "I would love it to happen [before training camp begins], but if it doesn't, we're not throwing up a caution flag at all. I think we'll just continue to work through it and continue to negotiate with [his agent]."

Freeman is set to carry a minuscule $1.9 million cap hit for the 2017 campaign. That ranks 31st among NFL running backs, per Spotrac, and makes him one of the league's biggest bargains.

He'll be eligible to become an unrestricted free agent at season's end. Atlanta could use the franchise tag if an extension isn't worked out, however, and the team also has an insurance policy of its own in accomplished backup Tevin Coleman.