Texas Business Attorney: “FOOTBALL’S BACK!!”

Posted on | July 30, 2011 | No Comments

I dusted off my Cowboys jersey on Monday after NFL Commissioner Roger Goodell announced that the NFL lockout was finally over after the owners and players agreed to a new collective bargaining agreement (the “agreement”).

A collective bargaining agreement functions as a labor contract between an employer and union(s). Collective bargaining agreements regulate working conditions such as wages, hours, benefits and health and safety issues.

The agreement that was reached on Monday had victories for both owners and players. The owners will receive a higher percentage of all revenues, 53% to the players 47 % as opposed to the old 50%-50% deal. Another part of the agreement restricts spending on first-round draft picks.

Players, meanwhile, convinced the teams to spend almost all of their salary cap in cash. They also forced safety changes to offseason and in-season practice rules. DeMaurice Smith, head of NFL Player’s Association had this to say about the agreement on Monday: “We didn’t get everything that either side wanted…but we did arrive at a deal that we think is fair and balanced.”

Recognizing that the fans had been left out in the cold throughout the collective bargaining process, New England Patriots owner Robert Kraft stated, “I’d like, on behalf of both sides, to apologize to the fans: For the last five, six months we’ve been talking about the business of football – and not what goes no, on the field, and building the teams in each market, but the end result is we’ve been able to have an agreement that I think is going to allow this sport to flourish over the next decade.”

For information on Texas Business law contact a Texas Business Attorney at The Wright Firm, L.L.P.-972-353-4600 or visit our website at www.thewrightlawyers.com.

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Texas Business Attorney: “FOOTBALL’S BACK!!”

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