NFLPA exec advising players to plan for work stoppage of at least 1 year
NFLPA executive director DeMaurice Smith wants players to be financially prepared for a possible work stoppage that could last at least a year.
Smith sent an email to NFL agents Tuesday morning, obtained by Lauren Brill of News5 Cleveland, suggesting players implement a savings strategy in case a work stoppage occurs after the current collective bargaining agreement expires following the 2020 season.
Here's the email:
Dear Contract Advisor:
Recently, I had the opportunity to meet in Los Angeles with a group of agents who had clients invited to NFLPA's Rookie Premiere event. The meeting focused on putting in place a savings plan for rookies in the league now that nearly 75% of the draftees have signed their contracts and many have already received their signing bonus or at least a large portion of their bonus.
With a possible work stoppage less than two years away, this is the opportune time to set up a structured and organized savings and budgeting plan with your clients. I can't stress enough the importance of having our player members in a sound financial situation should a work stoppage occur. We are advising players to plan for a work stoppage of at least a year in length. We are also encouraging all players to save 50% of their salary and bonuses and to save the entirety of their Performance Based Pay amount they should earn over the next two regular seasons.
Having a membership that is financially stable will only increase the chances of NFLPA player leadership getting a new CBA that will benefit not only players currently in the NFL but also the players that come after them and the ones that came before them. Thank you.
DeMaurice Smith
Smith could simply be advising players to financially prepare for the worst considering the uncertain nature of early labor talks. However, the suggestion that they should plan for a work stoppage that lasts at least a year is a worrying sign for ardent fans.
It's also a potential warning that the NFLPA is willing to bargain hard for the players when CBA negotiations ramp up.