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Freakonomics Radio

23. Millionaires vs. Billionaires

Freakonomics Radio

Freakonomics Radio + Stitcher

Documentary, Society & Culture

4.632K Ratings

🗓️ 24 February 2011

⏱️ 28 minutes

🧾️ Download transcript

Summary

Five things you don’t know about the NFL labor standoff

Transcript

Click on a timestamp to play from that location

0:00.0

Are you ready for some labor negotiations?

0:09.0

Yes, the National Football League held a very nice Super Bowl a couple weeks ago.

0:13.5

Green Bay Packers beat my beloved Pittsburgh Steelers sadly.

0:17.0

It was the most watched TV program in US history.

0:20.5

So everyone in the NFL must be really happy, right?

0:24.5

Well, not quite.

0:26.5

The owners have opted out of their collective bargaining agreement with the players two years early

0:32.5

and they're threatening to lock out the players for the upcoming season.

0:36.5

At issue, money, of course.

0:39.0

The league produced about $9 billion in revenues last season.

0:43.5

The owners think the players get too big a share.

0:46.5

So for now, they're taking their ball and going home.

0:51.0

And the players, well, the players just have to wait.

0:55.5

Honestly, like the key sentence, it's just, if billionaire is fighting to get millionaires.

1:01.5

And when it comes down to it, there needs to be some kind of agreement.

1:06.5

I don't know what side is being stubborn, but I think both sides need to come to some type of agreement and give a little.

1:15.0

That's Brandon Jackson who played the last four seasons with the Packers.

1:19.0

Last year, he made a little over $500,000.

1:22.5

Sounds like a lot of money, right?

1:24.5

But the average NFL career is short and most contracts aren't guaranteed.

1:29.5

So you've got to make your money while you're able.

1:32.5

Plus, Jackson's got two kids with a third on the way next month.

...

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