NFL owners want to cut costs in 2020
Posted On July 18, 2021
The NFL has been forced to cut some of its cost estimates for indoor pools and water parks in the coming years, a move that would cost more than $200 million, according to the NFL Players Association.
The league’s annual budget for indoor and outdoor pools and events has been slashed from $12.3 billion to $9.6 billion over the next three years, the NFLPA said in a statement released Monday.
The budget cuts, which are being made with the help of a $1.6 million tax credit, come after the league spent more than two years negotiating with state and local governments over pool infrastructure, the league said.
The proposed cuts are part of a plan to “make significant changes to our long-term financial position,” the NFL said in the statement.
The NFLPA called for an end to the “significant uncertainty” around the viability of indoor pool infrastructure.
The union also said it wanted to cut $200.7 million in revenue in 2020.
The new budget includes a plan for an $800 million renovation of the NFL’s downtown stadium, which will replace the current grass-and-cobble turf surface with turf that can be raised on stilts.
That renovation would cost an estimated $1 billion and take another three years to complete.
The stadium was built to house the NFL, the New Orleans Saints, the Washington Redskins and the Tampa Bay Buccaneers in 1991 and has hosted concerts and events in the past, but it was recently shut down by the league due to poor weather and the threat of Hurricane Matthew.
The union said it hoped to “put an end on this painful and costly cycle” in 2020 by proposing a $3.5 billion renovation of a new, larger outdoor pool in the Dallas suburb of Plano.
The pool would replace the existing turf at the stadium and cost $1 million to build.