The NFL owners have voted to opt of the current Collective Bargianing Agreement .

I'm going to let somebody else explain this one .

What happened?
The current CBA, initially negotiated in 1993, was most recently extended in March 2006. The 2006 extension could have continued through the 2012 season, but included an option to shorten the deal by one or two years. NFL clubs voted unanimously today to exercise the option, and to continue negotiating a new agreement for the 2011 season.

What does this mean to fans and games on the field?
Regardless of whether a new agreement is reached, NFL football will be played without threat of interruption for at least the next three seasons. The 2008 and 2009 seasons will be played with a salary cap. If there is no new agreement before the 2010 season, the 2010 season will be played without a salary cap under rules that also limit the free agency rights of players. If not extended, the agreement would expire at the end of the 2010 league year.

What are the key issues?
The NFL states that clubs are obligated by the CBA to spend substantially more than half their revenues -- about $4.5 billion this year -- on player costs. There are also growing costs for stadium construction, operations and improvements. The NFL feels the current labor agreement does not adequately recognize the costs of generating the revenues of which the players receive the largest share, nor does the agreement recognize that those costs have increased substantially in recent years due to difficult economic times. Owners also have concerns about the inability to recoup bonuses paid to players who subsequently breach their contracts or refuse to perform, as well as the current system that allows some rookies to secure contracts paying them more than top proven veterans.

I'd like to think with 3 years still to play the owners and the player's union can hammer out a new deal.