It was known for months that the NFL salary cap for 2021 would drop from the previous year due to financial losses caused by the COVID-19 pandemic.
Ben Fischer of Sports Business Journal has now provided additional information on those hits.
Per Fischer, NFL revenue fell from $16 billion in 2019 to $12 billion in 2020. While the league did well to complete all 17 weeks of the regular season and the postseason on time, it came to an agreement with the NFL Players Association last summer to cancel the preseason because of health concerns. No NFL team played a single game inside a stadium filled to its capacity, and some (i.e., the New York Giants, New York Jets) welcomed no fans through the final week of the regular season.
Don’t feel too sorry for NFL owners, though, as they’re reportedly on the verge of earning billions of dollars from new media rights deals. The league is likely also adding an extra regular-season game to the calendar, which will generate even more profits.
Ongoing COVID-19 vaccine rollouts and distributions have clubs such as the New England Patriots and Cleveland Browns assuming they’ll be cleared to resume normal in-stadium business by September. National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci also seems optimistic about larger numbers of fans attending sporting events during the summer and fall months.
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