On Tuesday, NFL Player's Association Executive Director DeMaurice Smith sent out a letter to NFL agents advising them to save 50 percent of their salary and bonuses as well as their Performance Based Pay amounts they earn over the next two years due to a potential work stoppage.
The potential work stoppage could happen 2021, the letter states, if the NFL and the NFLPA can't agree on the terms of the new collective bargaining agreement. Multiple sports outlets have previously reported on the possibility of a 2021 work stoppage if an agreement isn't reached.
News 5's Lauren Brill obtained a copy of the letter sent to agents. Three NFL agents confirmed to News 5 that they did receive a copy of the letter.
You can read the letter below.
TO: NFLPA Contract Advisors FROM: DeMaurice Smith DATE: May 28, 2019 RE: Work Stoppage Savings Strategy
Dear Contract Advisor:
Recently, I had the opportunity to meet in Los Angeles with a group of agents who had clients invited to the NFLPA's Rookie Premiere event. The meeting focused on putting in place a savings plan for rookies in the league now that nearly 75% of the draftees have signed their contracts and many have already received their signing bonus or at least a large portion of their bonus. With a possible work stoppage less than two years away, this is the opportune time to set up a structured and organized savings and budgeting plan with your clients. I can't stress enough the importance of having our player members in a sound financial situation should a work stoppage occur. We are advising players to plan for a work stoppage of at least a year in length. We are also encouraging all players to save 50% of their salary and bonuses and to save the entirety of their Performance Based Pay amounts they should eam over the next two regular seasons. Having a membership that is financially stable will only increase the chances of NFLPA player leadership getting a new CBA that will benefit not only players currently in the NFL but also the players that come after them and the ones that came before them. Thank you.
DeMaurice Smith
NFLPA Executive Director
