In his speech Friday, President Trump urged patriotic Americans to “walk out of the stadium” during the national anthem if players didn’t stand. He also said that if fans did that, “it will stop.”

I assume he is referring to the financial pressure losing fans would place on the team owners, but would it really?

The NFL teams are owned by capitalists who share revenue like socialists. According to Forbes, the current media contracts are worth roughly $7 billion. Divided by 32 teams, that is $200 million per team without selling one ticket. But most NFL tickets are sold as season ticket packages with the money up front; in other words, the owners already have the money. Now, obviously, the would lose out on all the concession, parking, and some merchandise revenue with nobody in the stadium, but they would still be alright.

Another loss would be in-stadium sponsorship revenue, which for the Dallas Cowboys, is reported to be about $100 million (including naming rights). Would NFL owners have to tighten their belts? Probably, but they would still make tons of money.

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