The NFL is rich AF. So what is it doing with all its money?
The NFL is rich… af. Evidence: Patrick Mahomes.
The 24-year-old Super Bowl MVP agreed to a $450 million extension with the Kansas City Chiefs on Monday, making him the highest-paid player in league history.
What a day for Patrick Mahomes 😅💰 pic.twitter.com/Biw0u6ybzt
— ESPN (@espn) July 6, 2020
The contract will reportedly be worth up to $503 million with incentives.
This is a well-deserved payday for Mahomes, who led the Chiefs to their first Super Bowl championship in 50 years. He won the NFL MVP award in 2018, and has set numerous Chiefs club records.
Mahomes’ rich deal shows his value to the league both as a player and icon. He undoubtedly has a clear value as a television commodity, bringing in more viewers to experience the array of advertisements and sponsorships that live sports offer.
Kansas City, we’re just getting started. This is home. 📍⏰ pic.twitter.com/9a1WMO6ra2
— Patrick Mahomes II (@PatrickMahomes) July 8, 2020
The deal also shows just how much money the NFL has.
Stars like Mahomes sell busloads of season tickets and merchandise, making the team owners very wealthy. The average NFL team is priced at $2.86 billion, a value that increases every single year. The value is also the most expensive for an individual American sports team.
In 2018, the total revenue of all NFL teams was $14.48 billion, an increase from $13.68 billion the year prior. There has been an increase in revenue each year since 2001, when revenue totaled to $4.28 billion.
The academy, backed by Nike, the league itself, and various mentors, is the first British program aimed to bring the youth American football opportunities.
Hard work. Dedication. Opportunity.⠀
Football. Fun. Family.⠀
This is what it means to be part of the #NFLAcademy.⠀
Think you’re ready for it? ⠀
⠀#JoinNFLAcademy | @nikelondon pic.twitter.com/pYdrywKvG7
— NFL Academy (@NFLAcademy) July 5, 2020
A day at the academy consists of classroom sessions, weight-room and skill training, and a multitude of character development sessions.
“It’s dedication, it’s commitment,” says Will Bryce, the NFL UK’s head of player development.
“It’s prioritizing studying, managing your time, getting to bed early, getting off social media when you don’t need to be on it. It gives the kids structure, they’re part of a team, plus there are some pretty cool opportunities too.”
“Whatever happens after this, I’ll be a better player and a better person,” says 19-year-old Tyrese Peters-Tovey. “I think I made the right choice.”
🏈 @NFLAcademy head coach Tony Allen speaks to Sky Sports about the programme's next steps
💪 Introducing games in 2020/21
🧑🎓 University scholarships
🇺🇸 US high school talks
👀 The Academy's scouting process
✍️ by @ch_skysports
— Sky Sports NFL (@SkySportsNFL) July 6, 2020
The academy is clearly a step in the right direction for league expansion and beneficial youth movements. The coaching staff, personnel, and former players who work with the academy demonstrate the utmost level of dignity and character. Taking time out of their lives to assist these young players is a magnificent thing.
The league business as a whole, though, must continue to address current issues in order to remain a top-dog openhanded organization. With its massive revenue rolling in for 2019 and 2020, there are several issues for the NFL to address.
The COVID-19 pandemic is something that it has already contributed to enormously. Back in March, the league announced that it donated more than $35 million as part of COVID-19 relief efforts.
— AT&T Stadium (@ATTStadium) March 26, 2020
This was a phenomenal and generous task that the league partook in. Organizations that received funding include the Boys & Girls Club of America, the Salvation Army, and Meals on Wheels America among many others.
“We have all been impacted by the COVID-19 pandemic,” said league Commissioner Roger Goodell. “The NFL will continue to find ways to give our support so we can get through this time of uncertainty together.”
The league must continue to address underprivileged communities and social activism. The NBA recently announced that it will allow players to wear social messages on the back of their jerseys at the Orlando restart.
Taking a page out of its neighbor’s book, the NFL can implement this same freedom during the upcoming season, should it happen.
Along with this, the league can create funding opportunities, youth educational sessions, and community relief missions as a collective unit. Using its own back muscle and money will surely create a wave of positivity.
— Bleacher Report (@BleacherReport) July 8, 2020
The NFL is very rich and has the potential to do great things with its money.
It has already put its earnings and effort towards expanding outwards and assisting youth, as well as offering a helping hand for the pandemic. Continuing this trend with underprivileged communities and activism would be a fantastic next step.
We are hopeful that the league will come up with some great ideas in the near future, but we have to see it to believe it first.