According to the latest rumors coming out of the NFL, we are indeed headed for a settlement – the two sides have agreed in principal to a rookie wage system, according to Adam Schefter ESPN NFL analyst. Now according to John Clayton, both sides are working at a frenzied pace to finalize this tentative agreement at making the salary cap $120 million. Other sources have it that the two sides continue to work on more “open issues” including workman’s compensation and the right to first refuse deals, so it looks like we’re going to have this puppy wrapped up. [note this was written last weekend but couldn’t be posted until after my vacation]
But at the end of the story, is the line that stuck to me “with deadlines coming up next week” says ESPN “to get training camps and pre-season started.” One owner told ESPN’s Sal Paolantonio that owners are trying to figure out how to get the league operational in time “so that we don’t lose a week of pre-season and we don’t lose $200 million dollars!” Huh? You guys make $200 million dollars in your worst profit week of the year?
I don’t know how many of you know this, but 60% of American corporations don’t pay taxes – but you do! Is your name Larry and you work in Pittsburgh? Because if it is, and your name is Joe and you live in Seattle…you paid more taxes than Xenon or GE did combined! If the NFL is making $200 million profit..IN THE FIRST WEEK OF PRE-SEASON!!! According to an owner…what the heck are they making in Week 8, when everybody watches? What are they making for the Superbowl?
Last year – according to the New York Times, GE (General Electric) made $14 billion, $5.1 billion in the U.S. – but because of fierce lobbying for taxes and innovative accounting, profits off-shore…GE didn’t pay a dollar in taxes last year. I probably paid more taxes (even if I were to live in the U.S. with a part time job) than GE did. Do you want to know how much money the NFL owners make? Xenon Mobile saw it’s profits (this is just hilarious) slump to $11.9 billion. I don’t know about you, but I’ve never called a $11.9 billion dollars in profits….slumping!
Let’s just say this folks – we’re going to have resolution and thank the players folks because they have the less greedy of the two, they pay taxes. When the owners make $200 million IN THE FIRST WEEK OF THE PRE-SEASON!!! That’s greed. You don’t think NFL owners – and this never gets discussed. But forget for a second the money that the owners pay their families, the loser’s son-in-law making $800,000 on the payroll that they wouldn’t disclose…forget that! Forget the day to day operational money the NFL owners make.
According to this story – I posted it up on my facebook for those of you whom I befriend, late Thursday night, according to Forbes…the NFL has grown so explosively over the last 25 years as TV revenues jumped over 700% – by the way, none of us are watching Robert Kraft (Patriots owner), we’re watching for Tom Brady. We’re not watching for the owners – we’re watching for the players. So the TV ratings are up by 700% – heck, the owners are taking all the money! Of the 50 most valuable sports teams – all 32 NFL teams made it, worldwide. No other league came close to that.
The Cowboys are now worth close to $2 billion dollars, the Buffalo Bills (hope it brings a smile to you Nartey) are more valuable than 90% of the NBA and MLB teams. What does that tell you about the NFL? And the owners are claiming that they did not get enough big of a share of the $9 billion dollars in revenue. This is not a million we’re talking about here…it’s billion! So, it’s easy to say that the players are greedy, but the players pay taxes and if the star players in any industry – be it law, medicine or sports, do not push back on the corporations… the rest of us are royally screwed!