Report: NFL proposes $40M cut to team spending, Aug. 1 opt-out for players
In its latest proposal to the NFLPA, the NFL removed the option for 35% of player salaries to be held in escrow and replaced it with a $40-million reduction in team salary caps and benefits for the 2020 season, NFL Network's Tom Pelissero reports.
The players' association, which is against the escrow proposal, also opposes such a hit to the 2020 cap and instead wants to spread the hit over multiple seasons, Pelissero adds.
If the two sides fail to reach a deal, the 2020 shortfall would be accounted for in 2021 and would result in a $50-to-$70-million drop in the salary cap per team, Pelissero reports.
The NFL and NFLPA have been embroiled in talks all week concerning health and safety protocols for a 2020 season that will be impacted by the coronavirus pandemic.
The league is also proposing that any player can opt out of the season with written notice by Aug. 1.