Will we have NFL football in 2011?
As many of you are aware, the National Football League's Player's Association ("NFLPA") and team owners have been unsuccessful in negotiating the terms of the upcoming Collective Bargaining Agreement ("CBA"). The current CBA is set to expire after the 2010 NFL season unless both sides agree to an extension of the current CBA terms.
The prospect of being without NFL football in 2011 is becoming a very real possibility. Earlier this month, reports indicate that team owners have asked lenders for an extended grace period on outstanding loans or, in the alternative, have debt deferred altogether to a later date in the future. This may be a sign that team owners are not expecting typical NFL season revenues in 2011 and therefore, cannot make regular payments on their debt. In addition, the NFLPA has advised its union members to save income and make other financial preparations in the event there is a lockout next season. This does not bode well for NFL fans, players, or the owners.
Pension and health plans, salary cap ceilings, and rookie signing bonuses are just a few of the topics on which both sides are far from reaching an agreement. Many deals occur in the final hours of negotiation, but both sides have asserted that they are not budging. As the window of time shrinks, expect negotiations to heat up. To learn more, visit NFL notebook: Players Union: Owners set for no games in 2011.
If you are in the Jacksonville, Florida area and have any questions about union rights or contract law, please contact Wood, Atter & Wolf, P.A. to set up a consultation.
