NFL Unveils League Office Pay Cuts, Furloughs

[Lurker]

Per the Wall Street Journal:   https://www.wsj.com/articles/nfl-unveils-pay-cuts-furloughs-while-roger-goodell-forgoes-salary-for-now-11588185251?mod=hp_featst_pos1

 

NFL Unveils Pay Cuts, Furloughs While Roger Goodell Forgoes Salary for Now

 

Commissioner Roger Goodell told NFL employees that the league would furlough some workers and reduce salaries as the league grapples with the economic impact caused by the coronavirus.

 

The memo, reviewed by The Wall Street Journal, is the latest indication of the powerful financial toll that the coronavirus has taken on the sports world. The cuts, which include permanent pension reductions that have drawn the ire of some league employees, come with the league still four months out from the scheduled start to its regular season.

 

The memo, sent to employees at the league’s office in New York, NFL Films and NFL Network, outlined tiered salary reduction, from 5% to employees at the manager level to 15% for executive vice presidents. The cuts don’t affect anyone making less than $100,000, the memo said. The pay cuts and furloughs just address those employees, not players.

 

Goodell also went to the compensation committee last month and gave up his salary for now, according to a person familiar with the matter. Goodell’s most recent contract, agreed to in 2017, calls for a salary of less than $4 million, with incentives that can bring his annual total up to $40 million.

[TroutDog]

Good indication that the season will not move forward normally. 
 

I’m suspect something like this wasn’t addressed in the new CBA but it’ll be interesting to see how this all plays out. 

Edited April 29, 2020 by TroutDog

[Giuseppe Tognarelli]

Am I missing something, or has the NFL not yet lost out on any revenue at this point? So this is essentially them saying they won't have as much revenue this season... Hopefully just because of the lack of fans, not the lack of televised games.

 

Crazy that they're matching COVID-19 donations while also cutting salaries.

[Roger Goodell]

Like many other businesses managing through uncertain outcomes, the NFL feels the prudent course of action at this time is to reduce expenses where possible.  I personally feel it is important to lead by example during these unprecedented times and thus have offered to offset my own salary so as to better protect the jobs of others in the league office.

[Seasons1992]

41 minutes ago, TroutDog said:

Good indication that the season will not move forward normally. 

 

I agree with this completely. 

One league will come back, one player will get sick, and that will be the end of 2020. 

[TroutDog]

30 minutes ago, Giuseppe Tognarelli said:

Am I missing something, or has the NFL not yet lost out on any revenue at this point? So this is essentially them saying they won't have as much revenue this season... Hopefully just because of the lack of fans, not the lack of televised games.

 

Crazy that they're matching COVID-19 donations while also cutting salaries.

That is called PR. It is looking more and more like it won’t be a ‘regular’ season. 
 

Imagine this headline: ‘NFL Has Fans in Attendance and 32% are now Positive for Covid-19’. Sub headline reads, ‘47 Have Died’. 
 

Not a winning move...but this is. And, more importantly, it’s understandable. This facts around this are changing faster than the Bills changed regimes in the last 20 years!!!! ? 

 

EDIT: It is great that they’re taking care of the lower level folks. 

Edited April 29, 2020 by TroutDog

[HardyBoy]

Very interesting on the pensions...that is not a good sign after a ten year stock market streak to have to cut pensions

 

I have a strong feeling we are going to be hearing about a lot more of pension cuts in the near term, and this is an organization that brings in a ton of very regular and steady profit...same cannot be said about many local municipalities and states.

[YoloinOhio]

 

[Brennan Huff]

Goodell is still a D bag ??‍♂️

[Mike in Horseheads]

The Shield knows the right time to do everything like going forward with FA and the draft. Now Rog does this. He'll still get booed (as he should) but 3/3 now.

[Billy Claude]

Maybe I am being too cynical but most of his pay is in bonuses.  I wouldn`t be super surprise if he gets something extra next year to make up for foregoing his salary this year.

[Malazan]

3 hours ago, TroutDog said:

EDIT: It is great that they’re taking care of the lower level folks. 

 

Yes, furloughing them is truly the kindest thing that could be done for them..What do you think the people who can't do their job from home are likely making? 

 

Look, I won't give them crap for furloughing workers, but nobody should be lining up to sing their praises either.

 

3 hours ago, Giuseppe Tognarelli said:

Crazy that they're matching COVID-19 donations while also cutting salaries.

 

Matching donations is pure BS. They'll write it off in taxes so it's you and me who end footing the bill for their "donations".

Edited April 30, 2020 by jeremy2020

[Florida Bills Fanatic]

3 hours ago, TroutDog said:

Good indication that the season will not move forward normally. 
 

I’m suspect something like this wasn’t addressed in the new CBA but it’ll be interesting to see how this all plays out. 

This is being done for the optics of it.  This won't effect enough people for enough money to make much of a ripple on their balance sheet but it is good PR.  When many people in your customer base are hurting, you don't want the fat cats in your company earning big bucks and not being effected also.  Several large companies in the US have made similar moves.  Nobody should be surprised by this and it probably has little connection to the real decisions to be made regarding the season.

[TroutDog]

3 minutes ago, jeremy2020 said:

Yes, furloughing them is truly the kindest thing that could be done for them..What do you think the people who can't do their job from home are likely making? 

 

Look, I won't give them crap for furloughing workers, but nobody should be lining up to sing their praises either.

Not sure if you read the article and/or absorbed it but my point was about the people earning $100k or less are not getting furloughed or pay cuts. 
 

Are you 100% sure you read it and grasped what I said prior to trashing me? ? 

1 minute ago, Florida Bills Fanatic said:

This is being done for the optics of it.  This won't effect enough people for enough money to make much of a ripple on their balance sheet but it is good PR.  When many people in your customer base are hurting, you don't want the fat cats in your company earning big bucks and not being effected also.  Several large companies in the US have made similar moves.  Nobody should be surprised by this and it probably has little connection to the real decisions to be made regarding the season.

Ummm, gotcha. You mean like I said after that it’s a PR move?

Edited April 30, 2020 by TroutDog

[Malazan]

1 hour ago, TroutDog said:

Not sure if you read the article and/or absorbed it but my point was about the people earning $100k or less are not getting furloughed or pay cuts. 
 

Are you 100% sure you read it and grasped what I said prior to trashing me? ? 

 

I'm sorry you thought it was 'trashing you' to point out that:

 

1) They didn't cut the salary of the people making less than 100k

 

2) The people who can't do their jobs at home are getting furloughed

 

3) That there's likely a large overlap between the two groups

 

Hope this helps. 

[LittleSammy]

Does the standard NFL player contract contain any clauses that would cause them not to be paid in the event the season is cancelled for reasons outside the control of the league, such as this? Similar question for the tv contracts. Not many clubs have adequate cash flows to make player payrolls without, at a minimum, the tv revenues. Maybe Terry and Kim snuck in a PPP loan like the Lakers did so they can keep their super yacht running.

[Gugny]

4 hours ago, Brennan Huff said:

Goodell is still a D bag ??‍♂️

 

Why?

[machine gun kelly]

Guys, there is 21-22% unemployment in the US.  The worst since the Great Depression.  Giving pay cuts vs. laying people off is a better alternative.  I can’t believe how many people I know out of work.  At least these employees still have a job.

[Big Turk]

For a league making multiple billions of dollars and printing money this is kind of a joke.

1 hour ago, machine gun kelly said:

Guys, there is 21-22% unemployment in the US.  The worst since the Great Depression.  Giving pay cuts vs. laying people off is a better alternative.  I can’t believe how many people I know out of work.  At least these employees still have a job.

 

And these idiot politicians that are trying to reopen the economy while the case counts and deaths have started rising again are just undeniably dumb.

 

They thought the first lockdown was bad? Open back up for 3 weeks right now and then see how long they will have to shut down again for once the daily case counts go from 25K to 50K and deaths from 2300 to 4000-5000. Just unbelievably stupid decisions being made right now.

[Meatloaf63]

1 hour ago, matter2003 said:

For a league making multiple billions of dollars and printing money this is kind of a joke.

 

And these idiot politicians that are trying to reopen the economy while the case counts and deaths have started rising again are just undeniably dumb.

 

They thought the first lockdown was bad? Open back up for 3 weeks right now and then see how long they will have to shut down again for once the daily case counts go from 25K to 50K and deaths from 2300 to 4000-5000. Just unbelievably stupid decisions being made right now.

Well they have really scared you into submission. Be a good little sheep and stay home and hope for a government hand out. If numbers are going up it’s because testing is increasing. Overall deaths are declining except for the phony crediting every death to Covid it would be a lot lower. The death rate isn’t even close to what the scare mongers said it was going to be. We have destroyed our economy on bad advice and a poor plan from people who are clueless. 
The politicians who are trying to re open the economy realize we don’t of the money to do this any longer, the damage done to our children’s economic future will be lasting as it is. People are hurting and need to return to work. Hospitals are empty and worker’s are getting laid  off, some hospitals will have trouble re opening. The whole country wasn’t miss managed like New York, and thank goodness for that, it’s time to re open... Not even the NFL will escape the financial implications of this shutdown.