NFL Commissioner Goodell Addresses NFL's Economic Issues In Memo
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Goodell Warns Of Impending New Business
Shortfalls In Memo To Staff Members |
NFL Commissioner Roger Goodell in a recent memo to NFL staff members "warns of impending new business shortfalls at what is usually seen as America's most successful sports property," according to Terry Lefton in this week's SPORTSBUSINESS JOURNAL. Goodell wrote in the memo, "Our costs are rising and our league revenues are under pressure. ... This means we must carefully control our costs on a daily basis and aggressively identify new sources of revenue." Goodell indicated that the league's "budget projections are imperiled." Goodell: "We remain committed to the bottom-line budget results that our league entities projected to the clubs for the 2008-2009 fiscal year." Without explaining the "likely budget shortfalls," Goodell added, "I have asked Finance to coordinate across all departments as we make the necessary adjustments to meet our financial projections. We will all see and feel the effect in our travel, events, promotional spending and other areas." NFL VP/Corporate Communications Brian McCarthy declined to "specify which NFL revenues are 'under pressure' or what steps the league is taking to reduce costs." However, he said, "No business is immune to current economic conditions, including the NFL. Revenues are under pressure because we have partners and sponsors that are responding to a weak economy and higher costs. Like our partners, we are proactively and pre-emptively looking carefully at our expenses." A senior marketer for a "large NFL sponsor" said that he had "noticed one key difference in meetings with the NFL this year." The marketer said, "They are more sales-focused than ever, even to sponsors who already have big investments. ... It does make you stop and think, 'If they aren't writing new business, who is?'" (SPORTSBUSINESS JOURNAL, 9/8 issue).
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