visajets Posted February 28, 2011 Share Posted February 28, 2011 And they raised ticket prices? I bet the PSL fee will still be due. Jets plan to cut salaries of football staff 25 percent in event of lockout Published: Monday, February 28, 2011, 5:50 PM Updated: Monday, February 28, 2011, 5:54 PM By Jenny Vrentas/The Star-Ledger William Perlman/The Star-LedgerJets' football operations employees would have their salaries cut 25 percent in the event of a lockout. In the event of a lockout, absent a new collective bargaining agreement between the NFL and the players union by the end of this week, the Jets would cut salaries of football operations employees by 25 percent, according to a person informed of the team’s plan. That person requested anonymity because the organization has not announced the specifics of its cuts on the football operations side. Those cuts, which would be effective as soon as a lockout was declared, would include GM Mike Tannenbaum and coach Rex Ryan. Lockout clauses also left open the possibility of the cuts increasing to 50 percent if the lockout extends three months and possible termination if it reaches six months -- but the organization told employees it did not plan to exercise those additional cuts laid out in their contracts’ lockout clauses. In addition, non-contracted employees on the football will be receiving furloughs, another person with knowledge of the plan said. The plan would be for employees to recoup their missed earnings, if no games are missed, at the end of the 2011 season. The CBA between the league and the NFLPA is due to expire at the end of the day Thursday, at which point the owners could elect to lock the players out. A team spokesman would not confirm the cuts but did say, “while we fully expect the 2011 season to proceed as planned, we do have contingency plans in place that touch everyone in the organization.” The Jets also recently elected to opt out of the league’s pension plan, which set forth a pension, matching 401k contributions and the Rule of 75, which allows early retirement for coaches 58 or older if their age and years of service total 75. As of last week, Larry Kennan, the staff director of the NFL Coaches Association, named 12 other teams who had also opted out. A team spokesman confirmed the Jets have opted out of the pension plan and said they are in the process of finalizing details for a plan that is "competitive with what other teams have done." Different organizations have different plans for weathering the lockout. Kennan said last week that 90 to 95 percent of coaches around the league have lockout clauses in their contracts that stipulate reduced salary -- but teams can choose whether or not to exercise those clauses. For example, Giants president and CEO John Mara said last week they were not currently planning any layoffs, salary cuts or furloughs for employees. The Jets’ lockout plan for its business operations side was released last week, with the organization asking those employees to take one week of unpaid furlough in each month without a new labor deal. At the time, executive VP of business operations Matt Higgins said cuts of the “same magnitude” would be implemented for football operations but did not have details yet. Speaking at a seminar in Indianapolis during the NFL Scouting Combine, Kennan called the Jets a “good organization that cares about its coaches and employees.” When contacted today, he said that he expected the new pension plan the Jets put in place to not be as good as the league’s but “close to as good, because they have normally treated coaches well.” Link to comment Share on other sites More sharing options...
JetsFanInDenver Posted February 28, 2011 Share Posted February 28, 2011 After reading articles like this i am glad Revis heldout for every last dime! Someone can correct me if i am wrong, but the NFL does receive all the TV money for this season even if it locked out. And that's giants share of revenues of team owners. So these salary cuts are inexcusable and unconscionable. And here is the article i read right before i got to this thread: http://www.economicpopulist.org/content/corporate-profits-soaring-thanks-record-unemployment Link to comment Share on other sites More sharing options...
Blackout Posted March 1, 2011 Share Posted March 1, 2011 After reading articles like this i am glad Revis heldout for every last dime! Someone can correct me if i am wrong, but the NFL does receive all the TV money for this season even if it locked out. And that's giants share of revenues of team owners. So these salary cuts are inexcusable and unconscionable. And here is the article i read right before i got to this thread: http://www.economicpopulist.org/content/corporate-profits-soaring-thanks-record-unemployment tv stations would pay the NFL AND have to find new programming? wow Link to comment Share on other sites More sharing options...
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