Agreement Has Been Reached to End Lockout [Details]

THIS IS BREAKING NEWS…

Early Monday morning, the sides in the NFL labor battle finally reached full agreement to end the lockout, with an press conference scheduled later this afternoon to announce the deal expected to be 10-years in length. The news of the early morning deal was first reported by Jay Glazer of FOX Sports.

Some small contract language details still need to be added, but shortly after the NFLPA Exec Committee will review from 11am to noon ET and vote immediately thereafter.  From there, a full vote by the Player Representatives and the entire player body will take place. But, sources close to the deal on both sides of the table believe that approval will come after the Exec. Committee recommends the deal.

Changes to the new agreement have taken place to terms since owner vote last week on terms for their final proposal (see those details). As for any changes since then, the NFL’s Labor Committee had been delegated the authority to close the deal.

The new timeline for teams reporting will be 10 teams on Wed, 10 on Thurs, 10 Fri, and 2 (Jets and Texans) on Sunday.

The agreement is a bit of a leap of faith by the owners. The lockout will be lifted before the NFLPA is recertified. To do so requires 50 percent, plus 1 vote by the players to do so. The expectation is that it will happen Tues, with Weds. at the latest.

Two key issues have not yet surfaced. One is whether the players got language in the CBA that will allow them to opt out of the agreement at some point, possibly within 6 years of the 10 year deal. The owners had a similar provision in the last CBA, and exercised that option in 2008.

The other issue that looms is how the global settlement for the two outstanding litigations will be handled. One is the class-action antitrust lawsuit that has Tom Brady, Drew Brees, and Peyton Manning as the star lead plaintiffs.

The lockout, the longest in NFL history, began on March 11 and is now 135 days long.

Hopefully the NBA Lockout doesn’t reach breaking numbers and ends before the beginning of the season like Football. *crosses fingers