By BASN Wire Services ATLANTA — The sneaker industry has gone...
Saving It For A ‘Rainy Day’
By Liz Mullen
Updated: April 4, 2010
CHARLOTTE – The NFL Players Association sent out a memo to all player agents asking them to strongly recommend that their clients put 60% of their performance-based pay check into a personal account to fund their personal expenses in the event of a lockout in 2011. Players have been recently paid or are about to be paid their performance-based pay for the 2009 NFL season, and the NFLPA board of player reps voted earlier this month in Maui to recommend that players place 60% of that pay into an account to fund their individual expenses. The CBA expires next March. In its letter to agents, the NFLPA said, “We are requesting that you immediately contact all of your players to inform them of this (player reps) resolution and strongly encourage them to follow the Board’s recommendation.” “The possibility of a lockout has become more evident with each passing day, and collectively we must make sure that we do everything possible to make our players financially secure should a lockout occur.” Performance pay rewards players for their time on the field in NFL games, and lower-paid players receive more of the money than higher-paid players under the formula, agents said. Players can get little to no performance pay or performance pay in the six figures. The NFL, on its Web site (www.NFLlabor.com) recently reported that NFL players received almost $600M since the performance-based pay system was instituted in the 2002 NFL CBA extension and received $109.5M for the 2009 season. Performance pay will not continue in 2010 because it is an uncapped year.