- Associated Press - Thursday, January 27, 2011

NEW YORK (AP) - The NFL says more than 500 players would miss out on hundreds of millions of contract dollars in March if a new labor deal isn’t reached by the deadline.

Jeff Pash, the league’s lead negotiator, says Thursday that there is “a set of very real consequences if we don’t have an agreement by early March.”

The current collective bargaining agreement is set to expire March 3. Owners could impose a lockout as early as the next day.

Although no formal large-group negotiating sessions are currently scheduled, Pash says the March 3 deadline could be extended if there’s progress.

The league estimates its gross revenue losses at $120 million with no deal by March and $1 billion with no deal by September.

Pash says “there’s a lot at risk” for owners and players.

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