According to Daniel Kaplan of SportsBusiness Journal, the league had more than $9 billion in debt as of October 2007.
That’s an average of more than $281,000,000 per team.
The disclosure came in a letter from NFL outside counsel Gregg Levy in support of a decision by the league to reduce the per-team annual debt ceiling. The union has filed collusion charges regarding the move, alleging that the league essentially has limited the amount of money that will be available to pay bonuses and other lump sums to players. The Levy letter has been made public because it has been filed in connection with the collusion charges.
http://www.stadiumwall.com/index.php?showtopic=63544
That’s an average of more than $281,000,000 per team.
The disclosure came in a letter from NFL outside counsel Gregg Levy in support of a decision by the league to reduce the per-team annual debt ceiling. The union has filed collusion charges regarding the move, alleging that the league essentially has limited the amount of money that will be available to pay bonuses and other lump sums to players. The Levy letter has been made public because it has been filed in connection with the collusion charges.
http://www.stadiumwall.com/index.php?showtopic=63544
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