Even the professional sports leagues are not immune from the difficulties of the current economic crisis.
NFL Commissioner Roger Goodell will give up 20-25% of his $11 million dollar salary, and the rest of the NFL's executive staff will take similar cuts. The NFL has to cut 169 jobs, 15% of the staff, and needs to find ways to reduce 20% of its expenses. Similarly, all of the 32 franchises expect to cut a total of 200 jobs. AMERICAblog wonders whether this will affect players salaries.
The NBA is set to borrow $175 million to help teams struggling in the global economy. The money will help teams cover their operating costs. Apparently, Bank of America and JPMorgan - aren't these bail-out superfiends? - approached the NBA and offered the loan, to which a majority of teams agreed to the necessity of funds.