Tag Archives: bankrupt
Pete Strom, a personal injury attorney in Columbia, South Carolina, has gone public with his belief that the NFL could be facing enough in damages with an adverse ruling in the concussion litigation that it could bankrupt the league.
“The big risk for the NFL is the likelihood of this becoming a class action suit as the number of cases grows — it is impractical to hear 5000 individual player’s stories,” he wrote. “Class-action could significantly increase the NFL’s potential damages because the class would grow to include all the individuals in the class. Estimates say there are up to 20,000 former NFL players who would be included.
“The league makes an estimated $9 billion a year and has insurance coverage, so the damages would have to be substantial for the NFL to be driven to bankruptcy. That said, if the suit is 20,000 players and the damages match Derrick Walker’s July lawsuit for $500,000, the NFL could face a loss of $10 billion.”