NFL Collective Bargaining Agreement

Article 12
Revenue Accounting and Calculation of the Salary Cap

Section 1(a)(i)(10)(C)
All Revenues

For purposes of this Article, and anywhere else stated in this Agreement, revenues shall be accounted for in the manner set forth below.

(a)(i)(10)(C)

For any Gambling Revenues generated by operation of gambling-related businesses located: (i) in (as defined above in Section (B) as being “in” the Stadium); or (ii) near the Stadium (as defined above in Section (B) as being “near” an NFL Stadium), that is not received by a Club or Club Affiliate (or the NFL or any NFL-related entity), but where the Club or Club Affiliate (or the NFL or any NFL-related entity) is a noncontrolling minority owner in such business, such revenue from such location shall be included in AR on a pro-rata basis based upon the NFL or Club’s (or related party’s) ownership stake in that entity, using the same in-season/offseason and location formula set forth above; provided, however, that this Subsection shall not apply to any passive ownership in which the stake of the Club or Club Affiliate is five percent (5%) or less. Should the NFL or any Club (or related party) own five percent (5%) or less in a passive ownership of a gambling-related business located in or near an NFL Stadium, revenue from such location shall not be included in AR. Subject to the preceding definitions, for any Gambling Revenues generated by operation of gambling-related businesses located in or near an NFL Stadium that is received by a Club or a Related Entity (or the NFL or any NFL-related entity) (but not a “Non-Controlled Related Entity”), one hundred percent (100%) of such revenue from such location shall be included in AR subject to the same in-season/offseason formula set forth above (e.g., in the offseason should such business be in an NFL Stadium, fifty percent (50%) of such revenue shall be included in AR; if such business is near, but not in, a Stadium, thirty-three percent (33%) of such revenue will be included in AR).