Has the NFL bubble burst?

[Patler]

The salary cap is bound to come down with shrinking ad revenues. Wonder if some recent fat contracts willl be a drag.

But are revenues shrinking? The contracts with the networs have 5 and 6 years yet to run, so the NFL won't see a decrease until then. Maybe not even the networks:

The networks point out that they offer make-goods every year, and can do so without hurting their revenue. That’s because NFL ad rates are so high, and there are so many games, that inventory rarely sells out, leaving a cushion of unsold commercial time to make it up to advertisers, one ad buyer said.

[Harlan Huckleby]

But are revenues shrinking? The contracts with the networs have 5 and 6 years yet to run

OK, but we don't need no stinkin facts. If viewership is dropping, revenue has to follow soon enough. We need gut-level insight, not some pointy-headed bureaucrat. Believe me.