The NFL Complaining About Potential Lost Profits and Then Lending the Rams $500 Million is Hilarious
By Jerry Trotta
Even the revenue powerhouse that is the NFL won't be able to elude a financial hit from the coronavirus crisis. Assuming that the entirety of the 2020 season, or at least the majority of it, is played without fans, the salary cap could take up to a $50 million hit due to the loss of revenue.
Like most major sports leagues across the globe, the NFL has been lamenting over its potential lost profits. However, on Tuesday, the league oddly approved the Los Angeles Rams' $500 million (!) request they were seeking to fund the construction of their new SoFi Stadium.
That's a joke, and we seriously don't want to hear any more NFL higher-ups whining about the projected loss of proceeds. If the league can dole out half a billion dollars to help the Rams cover the costs of their new stadium -- which is said to be the most expensive arena in any sport in American history at $5 billion -- it should be able to recover from COVID-19's financial effects without breaking a sweat.
With the league's $500 million loan approved, the Rams now have added a sum total of $900 million through its G-4 loan program. The other $400 million was administered back in 2018.
The NFL lending the Rams, who still owe money to to former players Clay Matthews and Todd Gurley, this much money is a terrible look. It's as simple as that.