What the owners approved
• Agreement would be through the 2020 season.
• Players would receive an average of 47 percent of the approximately $9 billion in annual league revenues over the course of the deal.
• The salary cap would be set at just more than $120 million for 2011. The league would be committed to cash spending of 99 percent of the cap for 2011 and 2012.
• Veterans would earn free agency after their fourth season.
• All rookies would sign four-year contracts. Teams would have the option for a fifth year on first-round picks. There would also be a specific salary cap for rookies.
• To improve player health and safety: The offseason program would be reduced by five weeks; there would be new limits on practice time and contact; there would be limits on the number of full-contact practices and there would be more days off.
• There would be additional funding for retiree benefits over the next 10 years of between $900 million and $1 billion.