Nick Laham | fake images
The National Football League offered voluntary buyouts to at least 200 employees as it prepares for the start of the playoffs next weekend, according to a memo obtained by CNBC.
The NFL, which has about 1,100 employees, told staff it is “continuously evaluating ways to improve efficiency and improve results,” according to the memo.
“All organizations are increasingly challenged to be agile, accountable and strategic. The NFL is no exception,” the memo says.
The acquisitions come as the league has demonstrated financial strength, with revenue in 2022 set to reach nearly $12 billion. Commissioner Roger Goodell has set a goal of reaching $25 billion in annual revenue by 2027. Teams are also valued at high levels. In July, NFL owners approved the sale of the Washington Commanders, a franchise that has not won a Super Bowl in more than three decades, for a record $6 billion.
The league sent the purchase memo to qualified employees, which depends on their age and the number of years they worked in the league office, with a total number equal to or greater than 70. It was not immediately clear how many acquisitions the NFL intends.
The league offered eligible employees three weeks of pay for each year of service, plus bonuses. Staff will have until the end of February to decide whether to accept the purchase.
The NFL said its strategy going forward includes international expansion, the growth of flag football and the continued development of media and digital operations.
“How we operate, where we invest our capital and workforce must evolve to align with these strategic priorities to best position the league for continued success,” the memo says.
In May, NFL Network laid off about 5% of its workforce.
News of the acquisitions was first reported by Sports Business Journal.
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Clarification: This story was updated to clarify the NFL's formula for offering buyouts.
