Annual NFL Meetings begin

By Alex Guzman  |   Monday, March 21, 2005  |  Comments( 0 )

NFL Football News
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NFL owners and union representatives convene for their annual meeting in Maui, Hawaii focusing on a major financial issue.

Currently most of the league's income shared equally among the 32 teams. The salary cap is at $80.5 million, but league rules allow teams to circumvent the cap with signing bonuses so long as they are pro-rated to later years.

Union executive director Gene Upshaw wants major additions to the revenue pool used to determine player salaries for the next collective bargaining agreement. He outlined a proposal in which money from luxury suites, stadium naming rights and local sponsorships would be included in the player pool.The collective bargaining agreement runs through the 2007 season, but the salary cap would expire under the current deal after 2006.

It will take 24 votes from the 32 teams to agree on a revised revenue-sharing model.
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