The NFL owners continue to bring loads and loads of cash.
Of the 32 NFL teams, 29 will make $55 million each from relocation fees of Rams, Chargers and Raiders.
The fees are more or less revenue compensation from their new cities for each team, which will gross to $645 million spread out over an 11-year period.
According to Darren Rovell of ESPN.com:
The 29 NFL teams that are staying put will each receive a gross sum of $55.2 million over a period of up to 11 years from the relocation fees associated with the moves of the Rams, Chargers and Raiders, sources told ESPN on Wednesday.
The Rams and the Chargers will each pay $645 million beginning in December 2019 and ending in December 2028. Neither the Rams nor the Chargers will receive revenue from the Los Angeles relocation fees.
The Raiders will pay $378 million over 10 years beginning in the year they move to Las Vegas, sources with knowledge of the numbers said. That money will be divided among every team but the Raiders.
The Green Bay Packers reported Wednesday that the team will receive relocation fees that amount to $27.1 million.
The piece of information was disclosed as part of the team’s annual public reporting as stipulated by it’s shareholder ownership structure.
Not bad.
Every team gets an equal portion of the revenue sharing system that’s in place to guarantee even the smaller teams an equal share of cash.
Clearly, the teams relocating are expecting a major increase in revenue for them to have to pay that much in fees.
