The NFL players are about to be in for a big payday. It is a mistaken payday, but the NFL is going to be shelling out more than $100 million in the coming months.
According to the Wall Street Journal, the NFL had accidentally kept more than $100 million from players in shared revenue which will cause the salary cap to raise. They now must pay back that money to the players.
Arbitrator Stephen Burbank made the ruling late Monday night, saying that NFL will have to return the withheld money, which it amassed over the past three years, to the shared revenue pool immediately, and that will result in the cap increasing by up to $2 million per team in 2016.
“They created an exemption out of a fiction, and they got caught,” NFLPA executive director DeMaurice Smith told the Journal.
The salary cap was raised from $150 million to $153.4 million in December and then again last week. This new raise will help the New Orleans Saints, Miami Dolphins, and Buffalo Bills, who were all expected to be over the cap going into free agency.
*Featured Photo (above) credit to USA TODAY Sports