The NFL and its executives have agreed to a new debt limit. This increase would take each team from $350 million to $500 million for the 2020 season; sources told Seth Wickersham of ESPN.
My @ESPNNFL newser: League and team officials have agreed on a proposal to raise the debt limit $150 million for each team to help make up for lost revenue in the event that games are played without fans, per sources. https://t.co/wmEwB9YwGx
— Seth Wickersham (@SethWickersham) May 12, 2020
The owners will vote on the proposal on Tuesday, May 19th, to decide on the $150 million increase. The NFL has decided to make this move because of the unknown future of the Coronavirus outbreak.
How This Impacts The Falcons
The decision to increase the debt limit gives teams like the Atlanta Falcons a chance to access additional money. These funds would benefit the organization if there were games played without fans. The Falcons, for example, would be out tens of millions of dollars in local revenues without fans in attendance.
Not having fans would mean no ticket sales and no game-day spending. The NFL is preparing to take a loss upfront to protect its franchises across the league. Like most things, The NFL, will not be slowed down by this, and they intend to play football this fall.
The NFL has already released its full 17-game schedule and has intentions to kick off week one on September 10th. The league is reportedly working on alternative strategies in case COVID-19 affects those plans. The Falcons have opened their doors in their facilities and continue to take steps in the right direction.
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