WASHINGTON, D.C. (KDKA/AP) – The NFL Players Association has retained the help of an investment bank to sort through the financial documents the owners provided to the union after nine-plus hours of negotiations on Tuesday.
The bank will determine if the financial information will satisfy the union’s call for full disclosure of the team’s revenues.
Currently the owners take $1 billion off the top of the $9 billion in league revenue to pay for operating costs, then split the remaining $8 billion with the players.
Now, the owners are seeking to add another $1 billion to that amount, before other revenues are divided with players to help pay for stadium construction and other improvements.
Up until now, the NFL has not agreed to the union’s long-held demand that the league completely open its books, repeatedly saying the players have enough data.
The NFLPA’s George Atallah said not having full financial transparency from the league and owners is a deal breaker, especially when the owners are asking the players to give up almost a billion dollars in salary.
Jeff Pash, the league’s lead labor negotiator, said the investment bank has not contacted the league and “We feel like we’ve given a lot of financial information. And we understand they may have a different views.”
Both sides have until Friday to make a deal, or they could seek another extension of the CBA deadline. If an extension is not reached, the owners could lock out the players or the players could decertify the union and file antitrust lawsuits against the owners.