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NFLPA hires investment bank for potential audit

Posted on: March 8, 2011 5:25 pm
Edited on: March 8, 2011 6:39 pm
 
Posted by Will Brinson

Earlier Tuesday, we mentioned that the NFLPA is unlikely to continue dropping their percentage of shared revenue in CBA negotiations without seeing what the owners have under the proverbial hood.

Or, if you prefer, in the books.

So serious is the NFLPA about that request that, according to multiple reports, they've hired an international investment bank to help audit the owners' financial records.

"The players are serious about getting a deal done, and we need an accurate understanding of what the numbers actually mean," says executive committee member Scott Fujita, via Jim Trotter of Sports Illustrated. "More importantly, if we don't get the full audited financial statements, we need to know what other information we need to make an informed decision. That's where this investment bank has been hired to help us out."

Again, we covered this earlier -- the NFLPA wouldn't be prudent to keep negotiating without actually understanding what they're negotiating against.

Additionally, Albert Breer of the NFL Network reports that the NFLPA brought "an auditor who the union has used for years" to the Federal Mediation and Conciliation Service building at about 3:00 PM EST.

What does this all mean? Well, Trotter reports that the NFL has opened up its books (some) and "released summary financial statements from the past two years." Unfortunately, that doesn't take into account what the NFL owners were making before they started getting the original $1 billion credit off the top.

NFL Labor

Clearly, knowing the disparity between the numbers before and after that credit are pretty important for the players in determining whether or not the additional $1 billion is a fair request or not.

So, what it seems like is this: the owners gave up some of their financials, and the NFLPA used their go-to auditor to look at those documents. But, that auditor, just like any other normal person, can't accurately enough discern what the difference is pre- and post-credit without seeing more information.

The NFLPA has presumably hired a big-time firm to look over that additional information, but also made it clear -- by publicly announcing the hire -- just how important looking at those financial documents actually is; which is to say, very.

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NFLPA hires investment bank for potential audit

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NFLPA hires investment bank for potential audit

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Since: Sep 25, 2009
Posted on: March 8, 2011 6:46 pm
 

NFLPA hires investment bank for potential audit

lol checkmate.  The owners already know they're being disengenious and didn't even want to show books to the players regularly.  Now the players have upped the game and actually are behaving like a professional business entity would: all major corporations hire investment banks for all of their deals.  After some NDAs get signed, which is standard practice, both sides will be at the table and then this thing will drag on FOREVER.  We won't have football until Congress steps in and orders something.

I can pretty much guarantee you that anything the Owners are requesting will get shot down by the investment bank for being terrible deals.  But the owners will not budge or compromise.


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