Tuesday, December 9, 2008

Recession hits NFL

Even the money-making machine known as the National Football League isn't immune to the recession.

The league announced Tuesday that it is cutting more than 10 percent of its staff as it deals with the nation's economic downturn.

According to the Associated Press, Commissioner Roger Goodell announced the cuts in a memo to league employees. The NFL is eliminating about 150 of its staff of 1,100 in New York, NFL Films in New Jersey and television and Internet production facilities in Los Angeles.

In September, Forbes called the NFL "the richest game" and the "the strongest sport in the world." The league has revenues of approximately $6.5 billion of which an estimated $4.5 billion goes to players.

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