Key points of the proposed deal

December 13, 1992

Free agency: will come after five years of experience

Exempt players: The owners would able to designate one player -- a franchise player -- who can't become a free agent. His salary would have to be amon ghe top five at his position

Right of first refusal: In the first year of the contract, each team would be able to subject two players to the right of first refusal (the player's team would have the option of matching any offer the player received and keeping the player). In the second year, each team would be able to subject one player to the right of first refusal.

Salary cap: would be 67 percent of designated gross revenues. If the cap reached that figure in any year, four-year players would get free agency the following year. The cap would then drop to 64 percent of the gross. each team would have to spend 50

percent of its revenue on players.

The college draft: Would be cut to seven rounds, but there would

be 28 extra picks for teams that lose players.

Rookie salaries: Would be limited to 3.5 percent of the gross, or about $2 million per team.

Contract length: Six years

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