Recession Hits Sports: NFL Layoffs Announced
It may be hard to believe that professional sports in America are now feeling the recession. The Yankees are still willing to shell out $160 million dollars to pitcher CC Sabathia. And you’d think TV ad budgets for sports will stay steady. Presumably, more fans will tune in for a distraction from all of the negative financial news. People are still paying for diversions and treating one’s family with tickets to the game is a lot cheaper than hopping on a plane.
Yet even the mighty NFL today announced 150 job cuts. Apparently football’s finance’s are still strong but uncertainty over 2009 is prompting the league to play it conservative.
