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Latest NFL economic proposal cuts team player costs by $40M

The latest economic proposal from the NFL to the NFLPA regarding the effects of COVID-19 during the 2020 season removes a portion of player salary held in escrow, however, it does call for a cut to each team's player costs.

NFL Network's Tom Pelissero reported Thursday night that the NFL has proposed cutting each team's player costs by $40 million in salary cap and/or benefits for this season, per sources informed of the situation. That move replaces a previous proposal that called for 35 percent of player salaries be held in escrow to aid in managing costs.

Pelissero reported that player leadership is strongly opposed to such a short-term hit that a $40 million cut would entail. The proposal to hold a percentage of salary in escrow also was not well received by players.

Also under the current proposal any player who wishes to opt out of the 2020 season may do so with written notice by Aug. 1.

Pelissero added that per the Collective Bargaining Agreement, the NFL and NFLPA must negotiate in good faith to manage a projected multibillion-dollar revenue shortfall. The players union prefers to spread the hit over future salary caps, while the league wants help managing costs now.

NFL owners are scheduled to hold a conference call Friday on the latest in COVID-19 discussions between the players union and the league.

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