Why don't the owners want to fully disclose their financial books?

[2cents]

Sorry, very few players get a decent education that is obvious. If you ask your union bosses for theire books so you can see where your dues go, what do they say?

[chipwhich]

I think the players should try to get the nfl teams audited.....that may find a lot of interesting things.

Responses like the leave me scratching my head.

For what purpose?

Just to give you a clue:

The NFL is held to the same standards as American citizens who pay taxes. Just like a taxpayer, the NFL is open to audit.

I would be willing to bet, NFL and their owners have been audited, and multiple times.

In addition, an audit looks for tax fraud and evasion. IRS doesn't audit to determine how companies spend their money.

So what would an audit accomplish....seriously.

[CrabR]

it is my understanding the NFL offered to show 5yrs of books not the 10 requested

i could care less about either side greedy millionaires vs greedy billionaires

[DRSmith]

It bears repeating: the NFL has 501©(6) status. Here's how the category is defined: "Section 501©(6) of the Internal Revenue Code provides for the exemption of business leagues, chambers of commerce, real estate boards, boards of trade, and professional football leagues, which are not organized for profit and no part of the net earnings of which inures to the benefit of any private shareholder or individual."

Note the language: it doesn't say "professional sports leagues" – it says "professional FOOTBALL leagues."

So, the NFL is not organized for profit -- who knew? My bank account suggests that I am not either, so I'm delighted to be in such illustrious company. I'll watch the Super Bowl next year with a whole new perspective: hey, it's not an over-the-top commercial phantasmagoria – it's a FUNDRAISER!

Seriously, folks, isn't there a problem here? Maybe I'm hopelessly naïve, but my understanding is that the fundamental reason for tax-exempt status is so organizations that work for some greater good – such as juvenile diabetes, social justice, reproductive freedom or the support of religion or trade groups, are not obliged to turn a profit in order to function. Instead, this special status allows them to raise money to serve their constituents and to allow those who donate or participate to benefit financially (in the form of deductions), as well.

One reason this issue has gotten some traction lately is because the NFL, not content with simply basking in their tax-exempt glow, is now asking for dispensation from having to reveal the salaries of key staffers. NFL chief Roger Goodell's salary, as of a couple of years ago, was a cozy $10,000,000. Apparently the organization doesn't want the hard-pressed, tax-paying public to get wind of the whopping salaries many of its people are being paid. Furthermore, when teams move to new cities or embark on projects such as building new stadiums, they will often negotiate with local governments for taxpayer money. That sure doesn't sound very not-for-profit-y to moi.

http://www.care2.com/causes/politics/blog/unsportsmanlike-conduct-the-nfl-bends-the-rules-when-it-comes-to-paying-taxes/

Maybe this could be a reason

[Gibbsisgod2006]

I think D Smith knew that the owners weren't going to let them take a look at the books from the past 10 years. DeMaurice used it as an excuse to take this to litigation so the NFLPA could get a better deal especially if Judge Dotty is presiding over the case. The deal that was offered by the NFL was a pretty good deal and DeMaurice and the NFLPA should have taken it.

[SirClintonPortis]

First things to do is learn the basics of accounting. Then you can figure out what's in the books and WHAT THEY MEAN.

---------- Post added March-14th-2011 at 12:08 PM ----------

Hate to tell you this but as a union member I can request the financials from the union anytime I want and I am sure the players can ask also for the unions financials if they want it

Seeing as many players get good educations and have degrees in things like business and finance they equipped to know what is going on

Ah, but see, knowledge NOT USED eventually becomes knowledge FORGOTTEN. Who really believes these guys remember Accounting I in the first year or second year of undergrad? I mean, I've forgotten plenty of stuff and I like to learn a lot of mundane, obscure, etc things.

[santanathegreat]

How many private companies do it? How many CEO's and company owners are forced to reveal their investment assets? B/c that's what the union is asking for. That tells me they're after every dime they can squeeze out of the owners. I am not a big fan of the owners' stance here, but the last CBA extension a couple of years ago, the players got a sweetheart deal, and now they're asking for more. The union is asking for too much.

The union wasn't asking for more, from what I've heard. They want the exact same deal as the last CBA...they just want to know why they have to take a collective paycut this time around.

[ncr2h]

What kind of ass-backwards, literacy test, grandfather clause bull**** is the "the owners shouldn't have to get audited financial statements because the players wouldn't be capable of understanding them" argument? I would trust the players to understand the statements before I would trust any of the people making arguments in this thread. The players have $. If they can't understand the financial statements, they can hire someone who can.

Similarly, 99.9% of the general public does not understand what is written in audited financial statements available on the SEC website or available in annual reports. The statements aren't written to be comprehensible to the average American, or even the average investor. They are written for professionals. Like the players, Americans can go to a stock broker whose role, theoretically, is to evaluate the financial statements. Should Americans be denied access to the SEC's financial statement database because they are incapable of comprehending the financial statements?

I have no idea why it is considered such an onerous demand that, when 2 parties are sharing profits, both of them have access to the profit data.

[DRSmith]

First things to do is learn the basics of accounting. Then you can figure out what's in the books and WHAT THEY MEAN.

---------- Post added March-14th-2011 at 12:08 PM ----------

Ah, but see, knowledge NOT USED eventually becomes knowledge FORGOTTEN. Who really believes these guys remember Accounting I in the first year or second year of undergrad? I mean, I've forgotten plenty of stuff and I like to learn a lot of mundane, obscure, etc things.

Seeing as some of these guys have business degrees from a college it is not that big a leap they are also hiring financial people to go over things

Heck when we are in negotiations we have lawyers and accountants that look at things.