Report: NFL to return $120 million withheld from players
The NFL will return the $120 million it withheld from its players over the course of three years, reports The Wall Street Journal’s Matthew Futterman.
The ruling was decided last week by arbitrator Stephen Burbank after a grievance was filed by the league’s union in January.
According to the report, a discrepancy was discovered by an audit of league finances, which revealed that NFL owners created an exemption for three years’ worth of ticket revenue and kept nearly $50 million from players’ salaries.
“They created an exemption out of a fiction and they got caught,” said NFLPA executive director DeMaurice Smith.
NFL spokesman Brian McCarthy called the incident a “technical accounting issue under the CBA involving the funding of stadium construction and renovation projects,” blaming it on timing.