Hit Hard by Economy, NFL Is Downsizing

BCS playoff bill the latest in a long line of similar measures

(NEWSER) - A House subcommittee ushered through a bill that would keep the BCS from billing its title game as the “national championship,” unless the NCAA institutes a playoff system. Where does Congress get off telling college administrators what to do? Well, sports are considered interstate commerce, according to the Explainer column in Slate . That gives lawmakers the jurisdiction to look into nearly any sports matter they please. More»

Even LeBron James makes the list—relatively speaking, of course

(NEWSER) - If you set aside the fact that even the minimum-earning NBA player ($457,558) is still in the top 1% of American earners, you can appreciate that some sports standouts are relatively underpaid. Yahoo! Sports lists some of the biggies:

• Tim Lincecum, MLB, San Francisco Giants: Though he’s set to win a second straight Cy Young Award, he makes nearly 20 times less than another pitcher on his team at $695,000.
• LeBron James, NBA, Cleveland Cavaliers: He’s making the maximum possible—nearly $16 million—and he’s still a steal, considering he saved his franchise.

Off the field, most team records aren't promising

(NEWSER) - As investment portfolios dwindle and businesses suffer, more professional sports teams' owners are falling on hard times. League bosses worry that potential buyers, already an endangered breed, won't go for newly available teams because their primary businesses are foundering. Even the Cubs, one of MLB's few profitable franchises, can't find an owner, reports the Wall Street Journal. More»

Recession, takeover of Merrill to blame for latest employee dump

(NEWSER) - Bank of America said today it will cut between 30,000 and 35,000 jobs in the next 3 years, the AP reports; the move is spurred by the continuing economic downturn and the bank’s recent purchase of Merrill Lynch. Cuts will be broad and will affect both the parent company and its new acquisition. Final plans for the downsizing are expected in early 2009. More»

City of Brotherly Love has been trophy-less since 1983

(NEWSER) - The Flyers’ elimination from the NHL playoffs was more than the end to a hockey season in Philadelphia—it was the 100th consecutive season to see one of the local teams came up short of a championship. “Fans have been conditioned for failure,” suggests Sports Illustrated, which chronicles the 100 worst moments in Philadelphia sports since the city last raised a banner in 1983. More»