BEREA, Ohio - The Browns took a low-risk gamble on draft day a year ago that Ifo Ekpre-Olomu's badly damaged left knee would heal properly and enable him to contribute to their secondary.

That move didn't pay off. Fortunately for the talented cornerback, the insurance policy his family took out prior to his final season at the University of Oregon did reportedly to the tune of $3 million.

The Browns waived Ekpre-Olomu on Saturday. Nearly 16 months after tearing an ACL and dislocating a knee bone in a Ducks' practice, the defensive back's knee has not shown enough progress to the Browns' liking. The team opens offseason workouts Monday.

Ekpre-Olomu spent all last season at the team's facility leading what former coach Mike Pettine called a "ghost-like existence" trying to strengthen the surgically repaired knee. The club drafted a player -- projected as a top-50 pick before the mishap -- in the seventh round (No. 241 overall).

The previous regime hoped Ekpre-Olomu could add depth at cornerback, where 2014 first-round pick Justin Gilbert has struggled mightily and youngster Pierre Desir regressed in his second season. Two-time Pro Bowler Joe Haden might not be ready in time for the season opener after he aggravated an ankle injury that required surgery last month. The Browns' other starter, Tramon Williams, is 33.

It would not surprise anyone to see the club address the need in the draft.

Browns coaches and teammates were impressed with how hard Ekpre-Olomu had worked to be ready this spring.

"Not being on the field has given me a whole year to reflect on what you are missing and what you love to do every day," he told cleveland.com in December. "It's hard when you have been doing it for 15 years and now it's taken away. It makes you realize every play matters. Every play could be your last.

"It's weird. Sometimes, you just want to gauge where you are, how you are improving. I just want to see how I am compared to other guys. It's difficult, but I know there is a plan ahead for me and I keep trusting it."

In February, Ekpre-Olomu offered an optimistic update on his Instagram account:

"Although this past year has had many ups and downs, I'm finally close to the point I want to be," he wrote. "Now it's time to get better as a player and person. A lot of people have asked about my recovery. I'm not quite 100 yet but I'm close and in the next couple of weeks I'll show you some of the progress I've made."

It's unclear if there was a setback, hardly uncommon for players recovering from such a serious injury. Such comebacks can go either way and the Browns have experience with the good and the bad.

Travis Benjamin and Armonty Bryant bounced back, while the likes of former offensive line prospect Chris Faulk never played another down after suffering a serious knee injury at LSU.

The good news for Ekpre-Olomu is he should be financially secure regardless of whether he plays in the NFL.

He weighed his option of entering the 2014 draft, but the Ducks helped woo him back for one more year with an insurance-policy plan. His family purchased a policy through the NCAA's exceptional student-athlete disability insurance rule and the Ducks helped reimburse him for a portion of it.

According to an ESPN report, Ekpre-Olomu was projected as a top-12 pick at the time the policy was written. His reported $3 million payout is the largest ever collected in a loss-of-value policy.

"It took off a little bit of stress and anger over what happened," the defensive back told Cleveland.com while not getting into policy specifics. "I'm past that point now. I've got an early advance in life and I have an opportunity to capitalize on it.

"What I want more than anything is to get back playing again. That's what my focus is."

It might happen. It just won't happen with the Browns.