An NFL player lock out is looming in the shadows and the fall out from this will be astronomical for the economy. The NFL team owners want more money and if they don’t get this, well this autumn will not only be a football-less season, but many people who have never even stepped foot inside a football stadium will feel this financially.
Not having a NFL season won’t hurt the billionaire team owners, or the NFL millionaire players, who it will hurt is the little people, the ones that have been faithful fans of the NFL for all these years.
The hurt won’t be just from missing a good NFL football game on a Sunday afternoon, the hurt is going to be to the economy with loss of jobs and revenue spent in the cities that the NFL teams call home!
If the owners lock out the players, each city that houses a NFL team will lose 3,000 jobs and $160 million in revenue. This would lead to almost 100,000 jobs lost nationwide, according to ESPN. This is not a good time in a history for this to happen with the number one problem being a joblessness economy.
President Obama was asked if he intends to step in to the labor disputes in the NFL and intercede before a player’s lock out becomes reality. He basically said, he is too busy and they need to settle this themselves.
Obama‘s more lengthier answer to the question was “You’ve got owners, most of whom are worth close to a billion dollars. You’ve got players who are making millions of dollars.” He continued with, “my working assumption, at a time when people are having to cut back, compromise and worry about making the mortgage and paying for their kids’ college educations, is that the two parties should be able to work it out without the president of the United States intervening,” according to Reuters.
One of the things that hasn’t been taking into consideration with the equation of lost money from a players lock out, is the neighborhood sports bars. These business owners count on the NFL televised games to bring in the crowds. There is just about one sports bar on every corner in down town of any town USA.
Many Connecticut sports bars see crowds from the first NFL game right up to the Super Bowl, as do the sports bars nation wide. Connecticut is big on the New England Patriots and the NY Jets, both teams are geographically the closest to the Nutmeg State. Connecticut foot ball fans, as well as the sports bar owners, will suffer without an NFL season. This will be seen in every state of the nation.
Reference: ESPN, Reuters