The NFL and team executives are looking to raise the team debt limit to $500 million from its current $350 million per team, according to ESPN. The two parties agreed to the proposal on a call earlier this week and owners will vote on May 19.
The potential increase is meant to help bridge whatever troubles might arise from the coronavirus pandemic. Talks have been in the works since last year but gained steam recently when estimates said the league could lose $138 million in revenue each week that games are played without fans. The total loss could amount to $2.3 billion. Last year’s plan to raise the limit to $1 billion was intended to expand the pool of potential franchise owners, according to Bloomberg.