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NFL Snooze News: Volume Four, Por Favor


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Jury enters $4.096 billion verdict against NFL in Sunday Ticket class action
 

After thirty years of gouging fans for Sunday Ticket in order to persuade plenty of them to watch whatever was made available on free, over-the-air TV, the reckoning has arrived in the form of a $4.096 billion verdict in a federal class action lawsuit.

Of that amount, $96 million goes to the commercial establishments in the class. The $4 billion becomes the recovery for residential customers.

Under federal antitrust laws, the amount will be trebled — to $12.288 billion.

It was the biggest verdict the NFL has ever absorbed in court.

https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/jury-enters-4-096-billion-verdict-against-nfl-in-sunday-ticket-class-action

Edited by vike daddy
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14 hours ago, vike daddy said:

Jury enters $4.096 billion verdict against NFL in Sunday Ticket class action
 

After thirty years of gouging fans for Sunday Ticket in order to persuade plenty of them to watch whatever was made available on free, over-the-air TV, the reckoning has arrived in the form of a $4.096 billion verdict in a federal class action lawsuit.

Of that amount, $96 million goes to the commercial establishments in the class. The $4 billion becomes the recovery for residential customers.

Under federal antitrust laws, the amount will be trebled — to $12.288 billion.

It was the biggest verdict the NFL has ever absorbed in court.

https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/jury-enters-4-096-billion-verdict-against-nfl-in-sunday-ticket-class-action

It's a near 100% certainty that the verdict and jury award will be appealed. Probably all the way to the US Supreme Court, their first time there since 2010. I suspect we're 3 years off from any final reolution. Perhaps longer if it gets remanded for additional proceedings. 

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1 hour ago, wcblack34 said:

It's a near 100% certainty that the verdict and jury award will be appealed. Probably all the way to the US Supreme Court, their first time there since 2010. I suspect we're 3 years off from any final reolution. Perhaps longer if it gets remanded for additional proceedings. 

and the verdict could get thrown out to, or the judge could uphold but reduce the award amount, i read.

there's also the financial issue that back interest (nine years worth) will be due, and we're talking interest on billions of dollars, plus interest moving forward and also attorneys' fees.

yes, it will take years to resolve this, but if the award stands, each team owner will be liable for a good half billion or so.

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4 minutes ago, vike daddy said:

and the verdict could get thrown out to, or the judge could uphold but reduce the award amount, i read.

there's also the financial issue that back interest (nine years worth) will be due, and we're talking interest on billions of dollars, plus interest moving forward and also attorneys' fees.

yes, it will take years to resolve this, but if the award stands, each team owner will be liable for a good half billion or so.

I wonder how this verdict, if it stands, will alter the leagues behavior?

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Former No. 1 NFL draft pick JaMarcus Russell has been removed from the coaching staff at the high school he attended in Mobile, Alabama, and is facing a lawsuit accusing him of taking money meant as a donation to the school.

“JaMarcus Russell was relieved of his volunteer coaching duties at Williamson High School during the fall of last year,” Mobile County Public School officials told WKRG Sports.

Russell is also facing a lawsuit alleging that he took a $74,000 check intended as a donation to the school and kept the money for himself. Chris Knowles, a local business owner who wrote the check, says Russell approached him about a donation to help the Williamson High School football team purchase weight room equipment, and Knowles gave Russell the donation by check. But the school allegedly never got any of that money, and Russell reportedly deposited it in a credit union and promptly withdrew $55,000 of that.

Russell was a star football player for Williamson High School before going to college at LSU, but the school says he’s no longer welcome. When Russell attended an event for the football team this week, the district made clear to him that he shouldn’t be there.

“Earlier this week, it was reiterated to Mr. Russell that he is not permitted to be around the football program or on school campus,” the school district said in a statement to WKRG.

https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/jamarcus-russell-out-as-high-school-football-coach-accused-of-stealing-donation-to-school

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On 6/28/2024 at 10:07 AM, vike daddy said:

the consumer will continued to be screwed.

Of course, it will just be in the form of streaming services now instead of DirecTV. 

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On Friday, Nike saw $28 billion in shareholder value disappear, as the stock plummeted by nearly 20 percent in one day. The drop happened after Nike announced that it expects sales to decline in the coming fiscal year.

The company’s stock has been steadily dropping since November 2021, from more than $177 per share to $75.65 at closing on Friday. As noted by CNBC.com it was the worst day for Nike shares since it went public in December 1980.

Nike also has laid off two percent of its workforce, trimming $2 billion from the payroll.

Since 2012, Nike has served as the NFL’s exclusive apparel provider. It’s the only corporate logo that appears on the player uniform, and the company has had a hand in steering pro football toward the umpteen uniform combinations that some college programs have.

https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/nfl-apparel-partner-nike-is-dealing-with-major-financial-issues



fun fact: Nike is the Greek goddess of victory.

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Posted (edited)
1 hour ago, vike daddy said:

On Friday, Nike saw $28 billion in shareholder value disappear, as the stock plummeted by nearly 20 percent in one day. The drop happened after Nike announced that it expects sales to decline in the coming fiscal year.

The company’s stock has been steadily dropping since November 2021, from more than $177 per share to $75.65 at closing on Friday. As noted by CNBC.com it was the worst day for Nike shares since it went public in December 1980.

Nike also has laid off two percent of its workforce, trimming $2 billion from the payroll.

Since 2012, Nike has served as the NFL’s exclusive apparel provider. It’s the only corporate logo that appears on the player uniform, and the company has had a hand in steering pro football toward the umpteen uniform combinations that some college programs have.

https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/nfl-apparel-partner-nike-is-dealing-with-major-financial-issues



fun fact: Nike is the Greek goddess of victory.

Another fun fact, as a runner myself, Nike shoes suck...and that is a large reason their sales have dropped.  They've been far surpassed by brands like Hoka and Brooks. 

Edited by swede700
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