Report: NFL, NFLPA Hope to Reach Agreement on Future Salary Caps by Late July

The National Football League and the NFL Players Association reportedly "hope" to reach an agreement on details regarding future salary caps in the event of lost revenue if fans aren't allowed in attendance for the 2020 season and beyond because of the coronavirus pandemic. 

Ian Rapoport, Mike Garafolo and Judy Battista of NFL.com reported Tuesday there isn't a deadline on the discussions but noted it's "not considered feasible" for this year's season to begin without a deal in place.

The sides are exploring avenues to "smooth the cap out" to avoid a significant COVID-related drop in 2021 before a massive rise in 2022 that coincides with new television deals, according to the NFL.com report.

Spotrac notes the 2020 salary cap stands at $198.2 million.

In addition, the league and the union must develop plans for other potential issues, such as a 2020 season that begins on time but is later halted because of the coronavirus, per NFL.com.

Major professional sports leagues in the United States have been met with difficult financial discussions as they attempt to resume play, likely without fans, in the coming months.

ESPN's Buster Olney reported Sunday there's a group of MLB owners "perfectly willing to shut down" the 2020 season, which was in the middle of spring training when play stopped, unless players make significant financial concessions to account for revenue losses in the absence of fans.

MLS and its players were staring down a potential lockout in recent days, but they are now on the verge of an agreement to avoid that, per ESPN's Taylor Twellman.

The NFL and its players association finalized a new 10-year collective bargaining agreement in March.

Now, another round of financial talks will be needed to make sure the 2020 season remains on track to kick off in September.