The Financial Hardships of the NFL
From a financial standpoint, the COVID-19 pandemic is no joke for sports teams. The pandemic has completely shut down money-making operations across sports, and that’s made it extremely difficult for clubs across all sports to stay afloat. Many have asked their players to take pay cuts anywhere from 10-20% all the way up to 50% to help the club maintain the salaries of its non-playing staff. However, it seems that the playing staff might actually be getting short-changed.
The Los Angeles Rams let go of two famous players this offseason in Todd Gurley and Clay Matthews. Gurley signed with the Atlanta Falcons while Matthews hasn’t found a new team yet. However, they both are still owed money by the Rams thanks to their unfinished contracts with the team, which must be honored. However, both players have tweeted that they have not received checks from the team for this month.
This is undoubtedly an issue. Everyone knows that NFL owners are not strapped for cash and neither are their franchises. Sure, they might have to request divvying up the payments into smaller portions, but they should be able to honor the remainder of the contracts they signed with the two players. To simply default on the payments isn’t just a bad look, it’s poor business practice.
The Rams need to sort this out with the players, because while they obviously understand that we are in the midst of extraordinary circumstances, they can’t use this moment as an excuse to shirk their financial responsibilities. I hope this gets resolved soon.