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How to win big by losing cheaply

Updated: August 24, 2011, 12:57 AM ET
By Gregg Easterbrook | Page 2

One reason NFL action is so competitive is the league has a hard salary cap. The new collective bargaining agreement adds a hard salary floor, mandating that nearly all cap space be spent each year -- as cash, not as amortization of past bonuses. This is a provision NFL players are going to like quite a bit. Fans of perennial cheapskate teams will like the provision, too.

But the must-spend clause does not take effect until 2013. The result is that many NFL teams have oodles of ...

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