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NFL LOCKOUT UPDATE: Details of Possible New CBA Revealed

It sounds like NFL players and owners are oh so close to agreeing upon a new collective bargaining agreement. Owners have been meeting in Chicago today to get briefed on the state of negotiations, which will resume on Wednesday.  

Until then, Chris Mortensen of ESPN has rumored details about where the two sides currently stand on a new labor agreement. Here is what is being reported:

  • Players get 48 percent of "all revenue," without extra $1-billion-plus off top that previously had been requested by owners.
  • Players' share will never dip below 46.5 percent, under new formula being negotiated.
  • Teams required to spend minimum 90-93 percent of the salary cap.
  • Rookie wage scale part of deal but still being "tweaked."
  • 18-game regular season designated only as negotiable item and at no point is mandated in deal.
  • New 16-game Thursday night TV package beginning in 2012.
  • Owners still will get some expense credits that will allow funding for new stadiums.
  • Retirees to benefit from improved health care, pension benefits as revenue projected to double to $18 million by 2016.

Sources also told ESPN's John Clayton that the players are willing to commit to at least 10 years of this new labor agreement.