NASCAR

Teams and leagues drawing up employee game plans on fly


Major sports leagues and teams across the United States are being forced to write a new game plan on how to pay employees and keep the franchises solvent in the wake of a coronavirus pandemic that has all but stopped revenue and brought competition to a halt.


PGA Tour Commissioner Jay Monahan has suspended his salary indefinitely while golf tournaments are not being played.


”You are going to see people experiment, trying out different formulas with all that is going on,” said Andrew Zimbalist, an economist at Smith College on Northampton, Massachusetts.


NASCAR made the biggest news Tuesday, ordering staff pay cuts across its entire company until the series returns to racing.


”One of the reasons why you see the Fed engaging in such expansionary monetary policy is so that banks will have money to lend out, not just in the sports world but elsewhere,” Zimbalist said.


Josh Harris, who owns said Devils and Sixers along with David Blitzer, said the owners changed their minds on the pay cuts after talking to players and workers on Tuesday.






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