Even though the common perception is that the cash cow known as the NFL could never be worried about money, apparently it is.The league has cut fifteen percent of its staff, meaning 169 jobs were cut through buyouts and layoffs. NFL Commissioner Roger Goodell even trimmed his own pay by twenty percent. He was making $11 million dollars, not including bonuses he was set to receive for the 2008 year.
Obviously Goodell rolls in a lot of cash and can afford to give some of it back. But it says a lot that he's taking a twenty percent pay cut for the good of the league. The league also froze salaries for all employees for 2009, and expenses have been cut by twenty percent.
The NFL is concerned about whether its sponsors will be shelling out money for next season, and whether the auto industry which pays big money for commercial advertising can afford to continue doing so. Playoff tickets will be reportedly cut in price by ten percent. Even here in Chicago the Bears will not raise ticket prices, and maybe lower them to help fans afford to go to games.
If only the NFL made money off the millions of people who wager on their product.
It shows what a tough economic time we live in when even the NFL is struggling. Kudos to Goodell for doling out some extra cash to help out his league. But it will be interesting to see how sports are effected by the economic downturn in this country.
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