There’s optimism building that the NFL owners and NFL Players Association will strike a deal avoiding a lockout for the rest of the spring and summer. There was a 24-hour extension filed on Thursday night and the rumor floating around is that they want to extend things another week, though that obviously has yet to happen.
Optimism Building NFL Lockout Is Avoided, But Two Sides Figuring Out $1 Billion
There are a lot of key issues involved in the negotiations but the biggest is how to split the revenue.
The short explanation: There’s $9 billion in revenue and the two sides currently split that down the middle, basically. More specifically, the owners get $1 billion off the top of that $9 billion for their stadiums and the players get 60 percent of the remaining $8 billion (or about 50 percent of the total $9 billion). The owners wanted $2 billion off the top moving forward which would significantly decrease the players cut (by as much as 18 percent, according to some reports). So they’re arguing over $1 billion basically.
With all this optimism surrounding a deal, are they any closer on figuring out how to split that revenue? ESPN’s Adam Schefter says...sort of.
Two sides still roughly $25 million apart per team per year. Doesn’t sound like much but it’s a $750-$800 million gap that must be closed.
Arguing over $800 million is better than arguing over $1 billion, right?
See More:
