ESPN’s Adam Schefter reported on Thursday night that an agreement was reached on a rookie wage scale, with his colleague John Clayton reporting that the salary cap is expected to be set at $120 million for the 2011 season.
Multiple reports have the revenue split coming in at between 46.5 percent and 48 percent.
Issues still needing resolution include the Legacy Fund for retiree benefits, player safety issues, worker’s compensation, injury guarantees, and litigation issues pertaining to the Brady v NFL case and the television contract damages case will need to be settled.
That damages case, which U.S. District Judge David Doty ruled that the owners illegally created a $4.3 billion lockout fund and could award $2 billion to the players at any time, may have played a role in the progress the talks made on Thursday.
Jim Trotter of Sports Illustrated reports that, on Thursday, the players told owners about the existence of their own secret lockout insurance fund, one that would provide each player with $200,000 if there was no football in 2011.
The players and owners will also need to vote to approve any agreement, and are scheduled to meet with U.S. Magistrate Judge Arthur Boylan on Tuesday in Minneapolis. The owners have a meeting scheduled for Thursday in Atlanta.
“I know our fans are frustrated and want to get it done,” NFLPA Executive Director DeMaurice Smith said on Friday morning. “We’ll get everything to the players when the time is right.”