Wolverines TE Jake Butt suffered torn ACL in Orange Bowl

— -- Michigan?tight end Jake Butt tore his ACL during Friday night's Orange Bowl and will need to undergo surgery, a source close to school told ESPN's Adam Schefter.

Butt injured his right knee at the end of a 16-yard reception in the second quarter.

Butt, a senior, won the Mackey Award as the nation's best tight end this season and was considered one of the top NFL prospects at the position heading into Friday's game.?ESPN NFL draft analyst Mel Kiper Jr. ranks Butt as the third-best draft-eligible tight end for the 2017 class.

Sources told ESPN's Darren Rovell that Butt has $4 million in total disability insurance, which will pay out if he can't play football again. He also has $2 million in loss of value insurance, which will start paying out if he slips past the second round in the 2017 NFL draft.