When you think about the idea of an NFL Lockout, initially you may wonder what you will do with your Sunday and Monday nights. What will replace the fun of haggling over fantasy football and whoa....no SUPERBOWL! The nerd in me then begins to do the math and follow the money. There’s a lot of talk about what that the wealthy will lose, but what about all the people who help make it happen?
- Team personnel could lose their jobs.
- Empty stadiums = no concession workers, ticket takers, janitors, clerical staff, etc. etc.
- Parking structures, lots near the stadiums, shuttle services, wholesale hot dog suppliers, local hotels and restaurants would lose money, thus their employees could lose their jobs.
- Yes, television networks that carry the games would lose billions in ad revenue (CBS, ESPN, Fox, NBC and the NFL Network) - professionals assigned to those ad accounts would not be needed.
- What about the distributors and local retailers of the jerseys, mugs, video games? They won’t be happy either.
This list is only the beginning. Many numbers are being tossed around – one being that each city that hosts an NFL team would lose $160 million dollars. Not sure if that’s correct or not, but there’s no doubt that each city would certainly lose millions. In this recessionary economy - not exactly what we need.
For those whose work is related to the NFL – start thinking of alternatives. Hopefully, a reasonable agreement for both can be reached, but if not, you don’t have millions or billions to rely on.
Wondering what all the fuss is about? Check out this article from Theweek.com http://bit.ly/fHjU0c
-Dorethia
Dorethia Conner, MBA: Personal Finance and Business Coach
www.connercoaching.com | dorethia@connercoaching | 800.962.2491| 248.325.8016
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