The recession has hit the NFL. The league said Tuesday it is cutting more than 10 per cent of its headquarters staff in response to the downturn in the country's economy.

Commissioner Roger Goodell announced the cuts in a memo to league employees. The NFL is eliminating about 150 of its staff of 1,100 in New York, NFL Films in New Jersey and television and Internet production facilities in Los Angeles.

— The Associated Press

"We are very mindful of what's going on and very cautious that we're focused on doing the right things to the extent necessary and people are focusing on costs. We haven't laid off anybody at the league office, and I'm not — at least for the immediate future — planning on even thinking about that."

— Gary Bettman

I have a hard time believing the NBA and NFL are going to have to cut back considerably and the NHL will escape unscathed, but at this point, that's where we're at in the commissioner's eyes.

On a somewhat related note: One thing that's been discussed quite a bit lately in media circles here in Toronto is how the NHL is likely to lose a lot of its value on paper, where franchise valuations have continued to climb even if being in ownership hasn't always been a money-making proposition on a year-to-year basis.

I can't imagine there's a ton of demand for NHL teams right now, and we're hearing plenty of reports of teams rumoured be be for sale. The past few years, several ownership groups have bought high in getting into the club, but a few could now sell low going forward.

If they can sell at all.