NFL finance leaders’ average tenure is over 12 years

For finance leaders, finding an industry or organization that has everything they need to remain for the length of their careers can be difficult. As the phenomenon of spending an entire career at one company has largely disappeared both in and out of leadership roles, it’s no surprise that CFOs — who arguably have some of the most stressful and demanding jobs in leadership — continue to have the lowest tenure among corporate executives.

However, finance leaders in professional sports tend to be outliers of this trend. In the National Football League (NFL), America’s most popular and lucrative professional sports association, the average tenure of the lead finance role across all 32 teams, measured by total time with the organization, is just over 12 years, according to data compiled by CFO.com. That figure nearly quadruples the average tenure of a finance leader in other industries.

Reasons for longevity

While the recognition and prestige of being an executive for a professional team are likely factors, the intricacies of the role may also contribute to these tenure figures. The financial performance of these teams — regardless of how the players and coaches perform — has risen. NFL teams have seen their average valuation increase 11% year over year in 2024. A decade ago, the average NFL team was worth approximately $1.43 billion, and in 2024 that number rose to $5.7 billion.

Unique aspects of the job may also provide an upside to the role. Finance teams are involved in stadium revenue forecasts, salary cap planning, collective bargaining agreement adherence, managing shared versus local revenues, navigating evolving media structures and collaborating with sales and marketing on sponsorship deals and promotions. These responsibilities add a creative and highly collaborative element to the finance team’s duties.

Most recently, the NFL has allowed private equity to buy small stakes in teams, creating additional responsibilities for CFOs and their finance teams. They must remain diligent and aware of the many firms looking to cash in on professional and college football.

There are also limitations to the role that most CFOs in other industries do not face. Each team’s ability to take on debt is strictly capped by the league. Currently, individual teams have a debt limit of $700 million, which was raised from $600 million in 2023.

Top-tenured, new hires and varying approaches

A 30-year career with one company is almost unheard of in the private sector, but two NFL teams have finance chiefs whose tenures surpass this mark. Karen Spencer, CFO of the Seattle Seahawks, has the longest tenure with one team among finance leaders in the league, at 33 years and seven months. Spencer was promoted to CFO in 2009 after joining the team in 1991. She previously worked as an accountant at Arthur Andersen.

The longest-tenured individual in a CFO role is Christine Procops, who has been a member the finance team of the New York Giants for 30 years and also holds the title of senior vice president. Procops joined the team in 1994 and was promoted to CFO in 2001.

The newest CFO on the list is David Dickerson, who was hired in July 2024 to lead the finances of the Carolina Panthers. The team was purchased by David Tepper in 2018 and has undergone multiple front-office and executive changes under his ownership. However, a new ownership group does not always lead to a new CFO. Justin Webster, CFO of the Denver Broncos, has been with the team for nearly 15 years and has held his CFO position since May 2013, despite the team being sold to a new ownership group in 2022.

The New York Jets take a somewhat unique approach to their finances, splitting responsibilities between two long-tenured vice presidents. Elaine Chen and John MacCarter, who have been with the team for 14 years and 11 months and 14 years and 10 months, respectively, both serve as vice president of finance. MacCarter also serves as vice president of analytics. The entire finance function is overseen by Brian Freedman, the team’s chief operating officer, who was previously a CFO of BlissWorld, a spa and skincare product manufacturer, before joining the Jets in 2010 as chief financial officer.

Other teams that have chief operating officers overseeing the finance function include the Chicago Bears, where executive vice president of stadium development and COO Karen Murphy works with vice president of finance Jake Jones, and the Philadelphia Eagles, where COO and senior vice president Frank Gumienny works with controller and director of finance Tony Orazi. Notably, both Jones and Orazi have been promoted multiple times and have more than two decades of experience with their teams — 22 years and seven months and 23 years, respectively.