When negotiating their last set of TV contracts, the NFL added a clause that would pay them even in the event of a lockout, which was dubbed “lockout insurance”. The use of that money has since been ruled out by the courts but the NFLPA has a similar idea that’s slightly more legal.
NFLPA Will Pay Players With ‘Lockout Fund’ Money
Jason La Canfora of NFL Network reports the NFLPA has set up a “Lockout Fund” for players who may need the assistance this summer. In 2009 and 2010 players contributed to a fund to prepare for a lockout and those that were on rosters in that time will be eligible for payments up to $60,000.
”We are e-mailing you to inform you that the NFLPA Board of Player Directors approved the payout from the Lockout Fund to begin on April 15, in six installments or until the lockout ends. In order to start receiving your payments, please fill out the attached direct deposit enrollment form and return it to us with a voided check from your checking account or bank letter verifying the account information. We will e-mail you at the address that you provide on the form when payments are sent to your bank account.
“Please note that any other future payments that you may receive from the NFLPA or NFL PLAYERS Inc (for example player marketing deals or royalty payments) will be deposited into this account and you will be notified via email of the deposit.”
Earlier this month Chiefs G Brian Waters, a member of the NFLPA’s executive committee, suggested creating an anonymous lockout fund to which veterans could contribute to help out some of the younger players. As far as we know, that wasn’t set up. Instead, we’ll see this “Lockout Fund”.
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