Bills suspend pension, 401K payments

[deathadder]

BUFFALO, N.Y. -- The Buffalo Bills have suspended pension plan payments to all employees -- including coaches -- during the NFL lockout and potentially the rest of the year, in addition to across-the-board paycuts that had been previously announced.

Chief executive officer Russ Brandon confirmed in an email to The Associated Press on Tuesday that the Bills had stopped paying into the 401K plan for the duration of the lockout and "will decide at a later date whether to reinstate them for 2011 based on our financial performance." Brandon said all employees had been notified early on that the plan was being amended so that all team contributions would be discretionary for this year.

http://sports.espn.go.com/nfl/news/story?id=6585190

[OpIv37]

Re: Bills suspend pension, 401K payments

and so once again, the argument between billionaire owners and millionaire players takes money directly out of the pocket of Joe 12-pack.

[Extremebillsfan247]

Re: Bills suspend pension, 401K payments

BUFFALO, N.Y. -- The Buffalo Bills have suspended pension plan payments to all employees -- including coaches -- during the NFL lockout and potentially the rest of the year, in addition to across-the-board paycuts that had been previously announced.

Chief executive officer Russ Brandon confirmed in an email to The Associated Press on Tuesday that the Bills had stopped paying into the 401K plan for the duration of the lockout and "will decide at a later date whether to reinstate them for 2011 based on our financial performance." Brandon said all employees had been notified early on that the plan was being amended so that all team contributions would be discretionary for this year.

http://sports.espn.go.com/nfl/news/story?id=6585190

Yeah, that's not a good thing. It's showing early signs of financial strain. Ralph Wilson is going to have a hard time with this lockout keeping this team financially stable. The longer this lockout lasts, the bigger that problem is going to become. This team is going to be in serious financial trouble with out a football season in 2011. JMO

[OpIv37]

Re: Bills suspend pension, 401K payments

Yeah, that's not a good thing. It's showing early signs of financial strain. Ralph Wilson is going to have a hard time with this lockout keeping this team financially stable. The longer this lockout lasts, the bigger that problem is going to become. This team is going to be in serious financial trouble with out a football season in 2011. JMO

can someone please explain this to me?

What revenue source do the teams have in MAY that isn't there because of the lockout?

Or are they just cutting costs in anticipation of lost revenue once the season doesn't start?

[Dr. Lecter]

Re: Bills suspend pension, 401K payments

can someone please explain this to me?

What revenue source do the teams have in MAY that isn't there because of the lockout?

Or are they just cutting costs in anticipation of lost revenue once the season doesn't start?

I would assume that they make a boatload of money off of people running out to buy jerseys with Cam Newton's, Von Miller's, Marcel Dareus', etc. name on them.

[OpIv37]

Re: Bills suspend pension, 401K payments

I would assume that they make a boatload of money off of people running out to buy jerseys with Cam Newton's, Von Miller's, Marcel Dareus', etc. name on them.

maybe, except that this year, the Bills haven't released the new jerseys and no one is running out to buy the old ones because we all know the new ones are coming. So, in the particular case of the Bills, this wouldn't even be helping them this year.

[X-Era]

Re: Bills suspend pension, 401K payments

can someone please explain this to me?

What revenue source do the teams have in MAY that isn't there because of the lockout?

Or are they just cutting costs in anticipation of lost revenue once the season doesn't start?

Personally, I think teams will pay what they can but won't be handing out "loans". They will be shrewd and keep the business from going under. That means the teams know when they have to stop paying stuff like this so as not to risk losing the business.

And I think the revenue stream is well mapped at this point where they know what they will get and when. During months like May they probably are operating off last seasons revenues still... I agree they aren't making money right now... unless they have some structured payments of some sort from TV, etc...

[Dr. Lecter]

Re: Bills suspend pension, 401K payments

maybe, except that this year, the Bills haven't released the new jerseys and no one is running out to buy the old ones because we all know the new ones are coming. So, in the particular case of the Bills, this wouldn't even be helping them this year.

Except for the fact that I am sure they would have released the new jerseys if they could sell them. You are putting the cause and effect in the wrong order.

[OpIv37]

Re: Bills suspend pension, 401K payments

Except for the fact that I am sure they would have released the new jerseys if they could sell them. You are putting the cause and effect in the wrong order.

??? Who says they can't?

People keep saying this, but the jerseys are still selling. The NFL Shop announced higher prices on players' jerseys the other day and the Bills store had a closeout on some former players' jerseys.

[Dr. Lecter]

Re: Bills suspend pension, 401K payments

??? Who says they can't?

People keep saying this, but the jerseys are still selling. The NFL Shop announced higher prices on players' jerseys the other day and the Bills store had a closeout on some former players' jerseys.

They can't make the new jerseys with players names on them right now because there is no CBA.

[OpIv37]

Re: Bills suspend pension, 401K payments

They can't make the new jerseys with players names on them right now because there is no CBA.

but, given the Bills' past history and the fact that they are a small market team, how much could they possibly make off of the jerseys of just the new players?

[trapezeus]

Re: Bills suspend pension, 401K payments

i think this is a bad PR move. these payments can't be that exorbinant.

yet again, supposed leaders are fine sticking it to the little guy because they don't understand how tight the average person's pockets are.

i have little to no respect for any of these owners.

[Dr. Lecter]

Re: Bills suspend pension, 401K payments

but, given the Bills' past history and the fact that they are a small market team, how much could they possibly make off of the jerseys of just the new players?

You go to Bills games.

How many Losman jerseys exist?

Not to mention when they get people to their site to buy jerseys they also pimp coffee cups, license plate holders, hats, etc.

With the pick this year of Dareus (which even you and DB like) I think his jersey would sell like mad.

[trapezeus]

Re: Bills suspend pension, 401K payments

nfl is getting a rude awakening about how much fans like players.

i love the bills and all, but i'm hardly interested in buying a bills jersey just for the sake of having a jersey. i want a player name on that thing.

i can't imagine a lot of people would buy a jersey without a name at this point.

[jamze132]

Re: Bills suspend pension, 401K payments

Or maybe Ralph Wilson is a cheapass.