USA Today title NFL’s profits in 2016 are in jeopardy as profit is falling due to falling revenue, analyst says article USA TODAY article A major sports league has been struggling to survive amid rising costs and a decline in the value of tickets, but its executives are getting more money.
The NFLPA filed for bankruptcy protection Friday, the league announced.
The filing was announced after the league’s financial results were reported Thursday.
The league said in a statement that its assets are valued at $4.4 billion and that it expects to spend $1.9 billion to continue to invest in the NFL.
The league’s chief financial officer, Robert Baer, said in the statement that the filing “was a necessary and important step” to prevent the NFL from running out of cash.
The Associated Press contributed to this report.