New deal adds $1 billion in benefits for retired players

AP

As the NFL and NFLPA* continue to march toward an apparent deal to end the lockout, more information is coming out about what they’ve agreed to do for the retired players, who have consistently insisted that their needs have to be considered as part of any deal.

According to multiple reports, the proposed new Collective Bargaining Agreement includes $1 billion in new benefits for retired players over the life of the 10-year deal.

More than $600 million will be put into the “Legacy Fund” for retired players over the next 10 years.

We’ll be interested in hearing how retired players react to the new CBA, which from all indications will be ratified on Thursday. On first blush, it sounds like a good deal for them.

47 responses to “New deal adds $1 billion in benefits for retired players

  1. i’m glad they are gonna take care of the players who came and made the game into what it is now!

  2. What legally constitutes a “retired player”?

    5 years experience? 3 years?

    I’m sure someone who plays in just a handful of games won’t have access to that fund.

    Also, how big was the fund prior to this agreement? This story doesn’t say if this $1 Billion is larger or smaller than the previous one.

    Also, is the $1 Billion part of the 48% of the pie that the players get?

  3. It’s about time the players that help build the league get some financial consideration…now let’s play!!! football

  4. Not really. If it costs 500,000 for surger(ies) to replace a knee (and that is a conservative figure), $1B will cover 2,000 surgeries. Never mind players like Earl Campbell who will be treating for 35 years if he lives to 70 or the countless others with neuro problems.

    The deal should have been whatever to take care of the retirees and medical for life for current players.

  5. Good. They deserve whatever they can salvage of their health for turning this into America’s Game.

  6. That 1 billion for 3,134 retired players and
    176 widows and surviving children of deceased Players for those keeping score.

    Obviously those numbers go up, but the retired players should be happy.

  7. i have been very interested to know what the new CBA was going to include for retired players and need to do more reading about the intricacies myself. considering the average career for an nfl player is under three years, i wonder who all qualifies for retirement benefits and for how long they qualify for them. i agree that it is very important to take care of the men that make this game great even after they are no longer playing but i would also be interested to know the parameters.

  8. jakek2 says:
    Not really. If it costs 500,000 for surger(ies) to replace a knee (and that is a conservative figure)

    Not even close. For total knee replacement surgery, even if post-surgical inpatient rehabilitation is required, the total cost is around $60,000 – $70,000 at the very most unless you’re having done by a “doctor to the stars”.

  9. I have a better idea. Tell the retired players to get jobs like the rest of us and lower the cost of our seats.

  10. jakek2: is your google in working order? I searched the cost of a knee replacement, for which I saw numbers from 35k to 65k for an uninsured patient. Meeting in the middle at 50k for a total knee replacement, that would come to 20k knee replacements over 10 years. That’s a lot of knees, even for the sausage king.

  11. jakek2 says: Jul 18, 2011 5:56 PM

    Not really. If it costs 500,000 for surger(ies) to replace a knee (and that is a conservative figure)…

    _______________________________

    conservative figure? How about 8 – 10 times over the average cost of knee replacement surgery. The billion does not need to pay for single surgeries either. Cost of such surgeries is greatly reduced by a good health care plan.

  12. Wonder who exactly will qualify for this “legacy fund.” HoFs? Only those who have injuries as a result of playin?

    Either way, it’s progress. NOW JUST SIGN THE DAMN CONTRACT. MAKE NEXT MONDAY THE CRAZIEST DAY IN NFL HISTORY!!!!

  13. What legally constitutes a “retired player”?

    5 years experience? 3 years?

    I’m sure someone who plays in just a handful of games won’t have access to that fund.

    Also, how big was the fund prior to this agreement? This story doesn’t say if this $1 Billion is larger or smaller than the previous one.

    Also, is the $1 Billion part of the 48% of the pie that the players get?

    181 
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    I believe in the last deal you had to play seven years before you could get the pension. My guess it would be identical. I would hate to see a dumbs$ such as Onterrio Smith who couldn’t keep clean for 5 minutes get any benefits for a year and half of service.

  14. Cudos to Ditka, Matt Birk and others for their efforts on behalf of retired players over the past several years. Also, a tip of the hat to Carl Eller for his work. If anybody deserves to come out “well” on this deal, it’s the retired players who helped build this league into what it is and got very little for it. Finally, something I can feel go about in this deal.

  15. If it is a 10 year agreement, that works out to $100 million per year. Measure that against a revenue stream of $9 billion annually, which figures to grow, and it works out to about 1%. I’m not sure that is what the retired players have in mend

  16. jake

    “Not really. If it costs 500,000 for surger(ies) to replace a knee (and that is a conservative figure), $1B will cover 2,000 surgeries. Never mind players like Earl Campbell who will be treating for 35 years if he lives to 70 or the countless others with neuro problems.”

    its called health insurance. Group HMO c’mon man!

  17. With a deal like this for retired players I would bet the farm the life span of a player will be dramatically shortened. A lot of the players continue on because they love the game, for others they simply cant afford to retire, until now.

  18. I’ve read this piece twice. I can’t find the part where $400M is added to the “more than $600M over the next decade” to make the headline true. I hope the players on whose shoulders today’s game of football is built know where that $400M is. $600M does not equal $1B.

    MDS, did you leave something out? Or do you, like our government, believe that we don’t notice something like $400 Million dollars?

    That much money would almost make Peyton Manning’s next contract, I’d think someone would notice.

  19. I see this “new deal” headline and think the stupid thing is finally signed … but no. Pfffft!!!

    This is excellent news, though. Players have only been getting fair-market salaries for about two decades. The league owes a debt to those players from earlier eras who weren’t paid commensurate with the revenues they generated. Many of those players have been struggling to deal with healthcare issues that have followed them into retirement. I hope these funds will help compensate for their financial hardships.

  20. Jakek2:

    Your post is the definition of ignorance. Have you even taken 5 seconds to think that maybe the billion can be partially pooled to purchase group medical insurance for qualifying players? Maybe there’s a small chance the nflpa will actually offer insurance rather than pay retail for surgeries? You know, like the other 99.9999999% of corporations and employers in this country.
    Last time I checked, my company isn’t paying 500k on surgery, they pay about 400k in insurance premiums per year. And that covers everyone.

  21. Wow pft planet is really showing off it’s fine intellect today.

    Purplehayseuss,

    You do understand that the legacy fund is only a portion of the retired players benefits right? So let’s say they offer health care for 200 million, 200 million on other programs for the retired guys, and than put 600 into the legacy fund that it still equals a billion? The guy wrote a blog post, mentioning where the majority of funds would go, not a line by line budget.

  22. That $1 billion is contingent upon the 1972 Dolphins ending their annual champagne celebration.

  23. Those greedy retired players. Will they stop at nothing to get every last red cent?

  24. valman61;
    No, I did not understand what you said about the Legacy fund or whatever it’s called. I called into question the accuracy of the title of an article written by a supposed writer. It says 1 Billion in the title, then does not substantiate that figure in the piece. You clearly eat, sleep and breathe this whole lockout debacle. I have a life. Questioning my intellect puts your own on a limb. MDS could at least have hinted where the remaining money was coming from, and he did not. I read these ‘articles’ to learn more about what I don’t know. MDS appetized me then took away the steak and potatoes.
    You have now stolen my dessert. NO tip for you.

  25. Purplehayseuess:

    My apologies on the spoiler. No I’m not a huge lockout guru, well actually I am but I really don’t know all that much about the retired players benefit structures. But I am an accountant with an MBA so I’m thinking the education probably gave me a leg up and I sometimes assume others should be able to figure things out how I do. My apologies for being snoody. Anyways, yes the answer to your question is the legacy fund is a portion of the retired players benefits and the rest goes into other programs for them, none of which I actually know of specifically.

  26. Carl Eller held the CBA up by it’s feet and shook all of the money out of it’s pockets. Then told it to get out of Minnesota while the going was good.

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