The NFL already benefited from timing when it comes to working around the pandemic, as countries and US states begin to roll back restrictions. Their other saving grace? TV Money.
NFL owners could lose billions with limited to no capacities in stadiums, however, the league boast lucrative media contracts approaching $10 billion in a full 2020 season. This is significant because the NFL is on pace to play all their games this fall.
Fitch Ratings recently affirmed its “A-plus” credit mark for the NFL and its properties while noting that the league had approved raising the borrowing limit for each club to $500 million from $350 million. The company attributes part of its strong rating to the television deals. Fitch says the NFL estimates each team's media revenue at $250 million per season. The number gets bigger later in the contract, and each deal is set to expire in the next two years.
This is all good news for any fans worried the pandemic could seriously threaten pro football and it's financial stability.
League-wide stadium revenue is in the range of $4 billion to $5 billion annually, or about 30% of the overall bottom line. That's not far from former Packers executive Andrew Brandt's belief that roughly 60% of the NFL's money comes from media contracts, also known as national revenue.
Meanwhile, MLB players are arguing about a prorated salary for a shortened season, a league that has already experienced a drop in interest from fans, both on TV and in the stands.