The NFL players who will have the biggest impact on the economy through a new collaborative effort to boost their paychecks and boost their businesses, have decided to take their earnings public.
The league announced Monday that they will be making it public through a website that will let them share their pay, endorsements, and marketing efforts online, which will be a “win-win for our players, their families and fans,” NFL CEO Roger Goodell said in a statement.
“Players are the bedrock of the American economy, so it is vital to us to share in the benefits of our league and our players’ success,” Goodell said.
“We know that these shared investments have had a significant positive impact on their lives and families.
And it is a win-win.”
The NFL Players Association (NFLPA) will be responsible for the implementation of the plan, Goodell said, while the players’ union will handle any administrative and compliance details.
Goodell said that the league expects to announce its first earnings report in October.
The NFLPA, which has been working with the league on the plan since the start of the 2016 season, has asked that the players share their financial information publicly.
That information is being gathered from social media platforms, including Twitter and Facebook.
Goodell added that the NFLPA will be working with financial firms to provide the league with information about players’ compensation and endorsements.
The plan will include a number of steps, including: making the players pay-per-play model available to their fans; updating the league’s website to provide a clearer understanding of the players and their compensation; and creating an industry standard for compensation sharing.
The players’ plan will also require a partnership between the league and social media platform Twitter, which would allow players to receive and use the team’s hashtag, “#sharethewealth.”
The plan is part of a wider effort by the NFL to grow its business and increase its revenue, which Goodell said has risen by 30 percent annually.
The announcement comes on the heels of the announcement last week that the team had raised $7.7 million in new capital and $10 million in debt to expand the stadium and add amenities to the stadium complex.