ESPN has reportedly asked its 100 highest-paid commentators to take a voluntary pay cut for the next three months as the coronavirus pandemic continues to affect companies wordwide.
The broadcasting network is, of course, one of the most profitable entities in the business but even they aren’t exempt from the financial hit brought about by COVID-19, given that there are no sporting events on show at the moment.
SBJ is reporting that management spent Monday morning calling the commentators and their agents to request that accept a 15% reduction in salary for 90 days.
“ESPN executives, including Connor Schell, Norby Williamson and Stephanie Druley, spent the morning calling the network’s commentators and their agents to ask them to take what is being described as voluntary pay cuts,” the report reads. “It is not known yet how many of the 100 commentators have agreed to the salary reductions, which ESPN has said would be in place for the next three months.”
This development comes in the wake of the company cutting executive salaries by as much as 30% in some cases. However, the top-paid commentators all have guaranteed contracts that don’t allow for cuts due to the current situation, which is why the latest has come in the form of a request.
While commentators could rebuff the request -it’s doubtful they will – it wouldn’t be in their best interest to do so as there will be a point in time when they will have to enter renegotiation.
