From Arena Football Finds Its Footing After Some Fumbles:
One reason for the AFL’s survival has been its relatively low operating costs, averaging about $5 million a year per team. Payroll is among the lowest in professional sports. Teams carry 24 players each at an average salary of $66,000. The highest-paid player — Philadelphia Soul quarterback Tony Graziani — makes $225,000 a year. That’s $5,000 less than the minimum wage for an NFL rookie. About half the teams in the league broke even or made money last year, says Ed Policy, the executive vice president of league development and legal affairs.