NFL Owners Pay $245 Million Into Player Benefits

By Tyson Rauch Posted On March 30, 2011

On Wednesday the National Football League released the following statement:

NFL OWNERS PAY $245 MILLION INTO PLAYER BENEFITS

The NFL clubs will complete their contributions toward 2010 NFL player benefits on Thursday, bringing the total amount funded by owners for the 2010 season to $245 million.

NFL owners will deposit $177 million on Thursday with BNY Mellon to complete the funding for the 2010 season. Ownership contributions fund player benefits that include the pension plan, group medical insurance, the disability plan, and the ”88” program for retired players with dementia or related conditions.

“NFL ownership is proud of the outstanding benefits that NFL players have enjoyed in recent years and the improvements that have been made for retired players,” said Carolina Panthers founder and owner Jerry Richardson, a former NFL player who co-chairs the NFL Management Council Executive Committee. “We have more work to do, especially for the retired players, and look forward to further improvements being part of the new NFL Collective Bargaining Agreement.”

In the past 10 years alone, NFL owners have contributed more than $2.7 billion for the funding of the various NFL benefit plans for current and retired players

BNY Mellon is a leading investment management and investment services company based in New York City. It was established in 2007 from the merger of Mellon Financial Corporation and The Bank of New York Company.