NFL Pools $900M For Labor Fight
Professor William B. Gould IV is quoted in the Houston Business Journal in a story on the National Football League's upcoming labor fight. Daniel Kaplan filed the following story:
The National Football League is building a nearly $900 million lockout pool financed from the savings the league reaped by not paying non-health care benefits to players this year as well as from revenue the league is holding back from the teams, according to financial and football sources.
The money, $28 million from each of the 32 clubs, is in addition to reserves the league has saved that are sufficient to pay for two years of interest on roughly $1 billion of stadium debt that flows through the league, the sources said.
Part of the league’s point in putting together such substantial lockout funds is to send a message to the players union, said Bill Gould, the former chairman of the National Labor Relations Board and a Stanford University professor. Because NFL players have such short careers, players could be nervous if the league appeared to be preparing for a long work stoppage.
“They want to put the fear of god in the union,” Gould said.