According to ESPN, the players still need to vote on the proposed deal, which was overwhelmingly approved by NFL owners on Thursday evening. The NFL Players' Associated has planned to meet on Monday and the union is set to hold a "major press conference" later in the day, suggesting that an end to the four-and-a-half-month lockout is near.
The tentative deal approved by the owners on Thursday provided a framework for dividing more than US$9 billion in annual revenue. The prior contract resulted in a 50-50 split while the new one will see owners receive a slightly larger share of about 53% with the players picking up 47%. The deal also includes a rookie wage scale, a salary cap of $120.375 million and a "Legacy Fund" of between $900 million and $1 billion that will increase the pensions of players who played before 1993.
The owners originally wanted to increase the regular-season campaign to 18 games. However, the proposal to add two games sparked criticism from players and has not been included in the new agreement. The owners have indicated, though, that the issue could be back on the agenda after 2013, if players offer their backing for the move.
The NFLPA decertified as a union in March to allow players to take legal action against the League. However, the union must recertify as a trade union in order to ratify the new collective bargaining agreement through the 32 player representatives.
