When is a $765 million dollar law suit settlement “chump change”? This is when, reading the reactions to the NFL’s announcement last week of its agreement with former players who sued the league over crippling concussion injuries sustained while playing professional football:
- The settlement is inadequate when it breaks down to only $170, 000 per player, when many of those former players are facing catastrophic disabilities at a young age from being hit repeatedly in the head for the entertainment of fans and the enrichment of the National Football league.
- It is inadequate when half of that will be ladled out over seventeen years, and all of it will be reduced by the lawyer’s fees, to be determined but unlikely to be less than a third. That means that each former player (or his heirs and family) will get, at most, $114, 000 or so.
- It is inadequate when the league paying the damages will split the payment among its 32 franchises, making each responsible for paying $24 million over 20 years, which comes to about $1.2 million a year. Remember that projected NFL revenues this season are $10 billion, and the NFL gets more than $40 billion on top of that through 2022, thanks to media rights.
In other words, chump change.
Or, if you prefer, “I gave my brain, mind and health to the NFL, and all I got was this lousy settlement.” Continue reading