Yesterday during one of my Principles of Micro classes, students and I got to talking about the Arena Football League (because of the shutdown condition described here). One student mentioned that the AFL had a few well-known owners (Bon Jovi and John Elway, to name a few). Another asked what the average salary of an AFL player was. I was surprised at the mention of the owners and I didn't know the answer to the salary question. But you'd expect that from someone who follows baseball, college football, and this school's athletic programs, eh?
Well, lo and behold, this morning's Wall Street Journal has this article ($$$) on Bon Jovi's ownership of the WSJ. It also has an answer to my student's question:
Not long ago, if you were a standout college player who did not make it to the National Football League, it was curtains for your career. Of course, some players could go north to play in the Canadian Football League, but the slots were few. Happily the AFL, which now boasts an average salary of $85,000, has opened up new opportunities for athletes.