Report: NFL agrees to raise teams' debt limits by $150M for 2020 season

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The NFL and team executives have agreed on a proposal to raise the debt limit for each team from $350 million to $500 million for the 2020 season in response to financial uncertainty caused by the coronavirus pandemic, sources told Seth Wickersham of ESPN.

The agreement was reached during a Monday conference call, and the owners will vote on the proposal May 19, Wickersham reports.

An increased debt limit would allow clubs to access extra alternative money should games be played without fans in attendance this season, as empty stadiums would erase weekly revenue from tickets and fans' game-day spending.

The NFL is preparing for a full regular season starting on Sept. 10 and released its 17-week regular-season schedule last week. But the league is also reportedly working on alternative strategies for the campaign in case COVID-19 affects initial plans.