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NFL Owners Vote "Yes" to ratify new CBA, Revenue Sharing

A few moments ago, the 31 NFL owners voted "yes" to approve the ratification of a new collective bargaining agreement. The owners voted 31-0 in favor of the CBA, with the Oakland Raiders abstaining from the vote. The owners also voted on a new shared revenue plan, which is a key for a team like the Jacksonville Jaguars.

"Jaguars owner Wayne Weaver told us he wasn't thrilled w/revenue sharing in '06, he's happy with where it's going in new deal." tweeted Albert Bree of the NFL Network.

The deal is tentative and based on a proposal that the NFLPA* will also need to ratify. The NFL will agree to the new CBA and open their facilities on Saturday July 23rd. The new league year would then begin on Wednesday July 27th, as long as the NFLPA* can prove on Tuesday July 26th that they have filed to re-certify as a union. The deal is contingent on that dynamic.

Under the agreement, "college" free agency would begin at 2:00 PM on July 24rd with "pro" free agency beginning on July 27th, the start of the new league year. Training camp rosters will be bumped from 80 to 90 players, which is a nice bone to throw to undrafted free agents. The proposed salary cap of $120.375 million will go into effect, with a 99% floor spending requirement in the 2011 and 2012. After that, it will fall to a 95% floor requirement, a big win for the players. Franchise and transition tags would remain in place and calculated as percentage of salary cap. There will also be strong "anti-holdout" rules for rookies.

Also to note but not unexpected, the Hall of Fame game has been cancelled. This new labor deal, once passed, will last for 10 years with no opt-out clauses. There will be labor peace until 2021.