OL Liam Dobson, No. 3 overall pick of last year’s @CFL Draft, will attend mini-camps with the @ChicagoBears
and @Saints. Had signed a @USFL contract this spring but denied P1 work visa because league does not have $10 million in revenue, according to agent Marty Magid. #bombers
Just thought this was interesting in the context of speculation around how much NBC is paying for the right to broadcast the USFL. Seems like if it was anywhere close to $10M annually, this wouldn't have been an issue? Or perhaps this played out before the NBC deal was struck?
2020 East Division Champions
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OL Liam Dobson, No. 3 overall pick of last year’s @CFL Draft, will attend mini-camps with the @ChicagoBears
and @Saints. Had signed a @USFL contract this spring but denied P1 work visa because league does not have $10 million in revenue, according to agent Marty Magid. #bombers
Just thought this was interesting in the context of speculation around how much NBC is paying for the right to broadcast the USFL. Seems like if it was anywhere close to $10M annually, this wouldn't have been an issue? Or perhaps this played out before the NBC deal was struck?
Or its paid and earned at time of games so its not revenue at time they screwed the guy.
4th&long wrote: ↑Mon May 02, 2022 5:08 pm
Or its paid and earned at time of games so its not revenue at time they screwed the guy.
Only somebody with absolutely no understanding of accounting would find this to be a viable excuse.
If NBC signed a contract with the USFL to pay money for their league, that contract would immediately go on the Comcast balance sheet as an account payable, and on Fox Corporation's as an account receivable. No matter when the money changes hands.
AAF had about $12 million in gross revenue, mostly from ticket sales. USFL, as we know, is drawing next to nothing from tickets. So it's possible NBC might be paying, but it's obviously less than $500,000 a game. NBC paid around $2,000,000 per game for national NHL rights the last go-round.
4th&long wrote: ↑Mon May 02, 2022 5:08 pm
Or its paid and earned at time of games so its not revenue at time they screwed the guy.
Only somebody with absolutely no understanding of accounting would find this to be a viable excuse.
If NBC signed a contract with the USFL to pay money for their league, that contract would immediately go on the Comcast balance sheet as an account payable, and on Fox Corporation's as an account receivable. No matter when the money changes hands.
Nope, it would be unearned revenue - until earned, which is a liability if paid and if it was a contract only no payment it would not be revenue until earned.
Just like Ticket sales in advance. It was just a screw job by CFL to keep players and send a message to others looking to jump.
You must be coming to the United States to be employed as an athlete by:
A team that is a member of an association of six or more professional sports teams whose total combined revenues exceed $10 million per year. The association must govern the conduct of its members and regulate the contests and exhibitions in which its member teams regularly engage; or
Any minor league team that is affiliated with such an association.
I'm not an accountant or an immigration lawyer, but my guess is if the USFL had a $10M contract with NBC in hand, someone like Dobson would be eligible for a P1-A work visa.
2020 East Division Champions
2021 February Monthly T-Shirt Giveaway Champion
Tank55 wrote: ↑Mon May 02, 2022 7:49 pm
Is the CFL in charge of approving US work visas?
Professional Athletes
You must be coming to the United States to be employed as an athlete by:
A team that is a member of an association of six or more professional sports teams whose total combined revenues exceed $10 million per year. The association must govern the conduct of its members and regulate the contests and exhibitions in which its member teams regularly engage; or
Any minor league team that is affiliated with such an association.
