Ickybaluky
03-27-2007, 11:10 AM
Per Vic Carucci of NFL.com (http://www.nfl.com/news/story/10089749).
Summary:
- Teams must pend a minimum of 65 percent of its revenues on player costs before it qualifies for a separate available pool of $430 million, retroactive to 2006.
- Requires a team to have gate receipts equal to at least 90 percent of the league average
- The franchise could not have been sold from '06 to 2009
- If team has a new or renovated stadium with an expenditure of at least $150 million, it does not qualify for the extra funds
- The qualifying teams will share $100 million for 2006, and $110 million for each of the next three years. A team stops receiving those funds after the total reaches 65 percent of revenues for player costs
Cincy probably voted against it because it is making him spend the extra money instead of pocketing it.
Jacksonville likely voted against it because of the gate receipts qualifier. They cover up something like 10,000 seats each game an have had trouble selling tickets for years. Their lack of gate receipts could cost them in this program, and make it more likely they move in the future (unless they start selling more tickets).
Summary:
- Teams must pend a minimum of 65 percent of its revenues on player costs before it qualifies for a separate available pool of $430 million, retroactive to 2006.
- Requires a team to have gate receipts equal to at least 90 percent of the league average
- The franchise could not have been sold from '06 to 2009
- If team has a new or renovated stadium with an expenditure of at least $150 million, it does not qualify for the extra funds
- The qualifying teams will share $100 million for 2006, and $110 million for each of the next three years. A team stops receiving those funds after the total reaches 65 percent of revenues for player costs
Cincy probably voted against it because it is making him spend the extra money instead of pocketing it.
Jacksonville likely voted against it because of the gate receipts qualifier. They cover up something like 10,000 seats each game an have had trouble selling tickets for years. Their lack of gate receipts could cost them in this program, and make it more likely they move in the future (unless they start selling more tickets).