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Investments Costly to NFL Players Assn., Newspaper Says

January 18, 1988

The National Football League Players Assn. lost nearly $1.2 million in a series of investments between 1978 and 1985, the Pittsburgh Press reported Sunday.

The losses were disclosed in the union's 1986 financial report, which reportedly had been misplaced in a cardboard box at union headquarters in Washington before being filed with the U.S. Labor Dept. two months ago.

The investment losses stemmed from the NFLPA's operation of summer sports camps through a for-profit subsidiary, the newspaper said.

The losses contributed to a 586% increase in dues over 10 years, from $350 to $2,400 per year, according to the Press.

Ed Garvey, who was the union's executive director when the key decisions on the camp program and all-star games were made, declined to be interviewed. Garvey, now a Democratic candidate for the U.S. Senate in Wisconsin, responded with a one-page letter in which he wrote: "Please do not bother me with NFL matters as I have not been involved for five years."

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