A very ugly fight is brewing in the NFL. Both the NFL and the Player’s Association (NFLPA) are starting to dig in and prepare for what looks like an inevitable work stoppage. It would be the league’s first labour stoppage since 1987.
And if you are worried about how the billionaire owners of the NFL would survive for a year without revenues, don’t be. They have built up a pool of $900 million to pay the bills. That is enough to pay two years interest on the stadium debt that the owners face.
And where did this money come from? In part, it comes from the money owners are saving by not paying non-health care benefits to players this year, including life insurance or pension-plan payments.
Meanwhile, the NFLPA has built up a reserve of $200 million and are now telling their players that it might be a good time to save some of their paychecks (now might not be a good time for the rest of us to invest in strip clubs).
Giants owner John Mara says the two sides are not even “in the same ballpark right now.” And this little spat has all the indications that it will get much uglier before it gets better.
And in the end, billionaires and millionaires will be fighting over their slice of the pie. And the ones that pay for the pie, the fans, will be forced to watch NHL games before May.
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