The NFL Players Association’s net assets increased 33%, from $485,697,176 to $647,347,335, for its fiscal year ended Feb. 29, 2020.
Total assets for the year were $920,263,184, up from $614,758,400, according to the annual report the union filed with the U.S. Department of Labor. Total liabilities were $272,915,849, up from $129,061,224, a year earlier.
NFLPA Executive Director DeMaurice Smith was the highest-paid employee, drawing a salary of $3,197,401, up from $2,712,500 the year prior. Ira Fishman, NFLPA managing director, was the second highest paid at $911,124, compared to $871,642 the year before.
Other highly paid executives included general counsel Tom DePaso at $822,340; associate general counsel Heather McPhee at $423,736; and Ahmad Nassar, former president of NFL Players Inc., at $477,810. Nassar left that post Jan. 1 to run OneTeam Partners Inc., a partnership between the NFLPA, MLB Players Association and investor Gerry Cardinale’s RedBird Capital to market football and baseball player marketing rights.
The filing, called an LM2 form, states that the NFLPA “acquired other investments for $124,370,881 in exchange for cash of $6,000,000 and other assets.” However, the filing does not describe the investments that were acquired. The union declined to comment on the filing.
The filing states that the union formed a political action committee, One Team PAC, and contributed $365,675 to it. But unlike the MLBPA’s annual LM2 filing, there is only one mention of the company OneTeam Partners or any attorneys or advisers involved in forming the venture.
The NFLPA received $1,315,183 from OneTeam Partners, which included $1,281,158 for “reimbursed expenses” and $34,025 for “Super Bowl tickets purchased,” according to the filing.
There were 39 mentions of “Super Bowl tickets purchased” by companies or individuals, including Smith, who bought $155,000 worth of tickets, according to the filing. Last year’s filing included 14 mentions of “Super Bowl tickets purchased,” all by individuals.
Companies that boosted the union’s bottom line were Electronic Arts, which paid the union $50,086,991 in licensing and marketing dollars. Panini paid the union $30,701,816 in royalties and player marketing fees. Fanatics Inc. contributed $27,639,108 and Fanatics Authentic contributed $851,788 in royalties, player marketing and other fees.
