NFL lockout talks extended for one week as disagreements persist

NFL Lockout Talks Extended

The NFL lockout talks will be extended until March 11 to give the league and the players union more time to iron out differences. A federal mediator has been brought back into the talks to resolve the deadlock in the negotiations.

Among the contentious points is a new scheme on how to distribute the approximately $9 billion in revenue generated by the league. There is also a proposal to increase regular season games from 16 to 18. Other plans for discussion is a salary cap for rookies and health care insurance coverage for retired NFL players.

"There's a commitment on both sides to engage in another round of negotiations at the request of the mediation service," players union executive director DeMaurice Smith said today. "We look forward to a deal coming out of that."

Federal Mediation and Conciliation Service chief George H. Cohen and NFL Commissioner Roger Goodell said the NFL lockout talks will resume March 7.

The extension was needed because the past collective bargaining agreement was about to expire and a work stoppage would be have to be ordered.

An NFL lockout will be disastrous for football fans who just enjoyed a Super Bowl championship that became the most-watched in U.S. television history.

The drawn-out talks already cost the NFL some $120 million in ticket sales and sponsorships. If the negotiations extend until September, the losses could reach $1 billion according to league officials.

City governments are also worried because $7 billion in subsidies in football stadiums are in jeopardy until the resolution of the NFL lockout talks.

Posted by Andre Monohan on Saturday March 05 2011, 11:19 PM EDT. Ref: Bloomberg. All trademarks acknowledged. Filed under Featured News. Comments and Trackbacks closed. Follow responses: RSS 2.0