They don’t have the financial records in hand just yet. However, the NFLPA is taking a proactive step in deciphering the, no doubt, ponderous balance sheets the NFL may have to turn over via court order. It has retained the services of International Investment Bank. According to Sports Illustrated:
“The players are serious about getting a deal done, and we need an accurate understanding of what the numbers actually mean,” says executive committee member Scott Fujita. “More importantly, if we don’t get the full audited financial statements, we need to know what other information we need to make an informed decision. That’s where this investment bank has been hired to help us out.”
According to one source, the league has only released summary financial statements from the past two years, which does not provided the details and transparency that the union has been seeking since the owners first asked for an additional $1 billion in expense credits to grow the game.
The NFL owners already got more than $1 billion in 2010 to ‘grow the game’. However, they claim there is much more risk involved now around building new stadiums and product promotion. That’s why they’re demanding $1 billion off the top before revenues are split with players. The NFLPA has stated they’re willing to work with ownership. They just want to see the owners’ alleged ‘hardship’ for themselves.
Something tells me that the word ‘hardship’ for NFL owners involves purchasing only one yacht per year instead of two. This is likely the reason they’ve fought tooth and nail to keep those financial records closed. This situation is only going to get more interesting – and damning – as it goes on.
[PhotoSource: The Daily Caller]