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Foxworth: "No deal until players approve it"

As reports suggest a handshake deal is near between the NFL and its players, Ravens cornerback Domonique Foxworth issued a word of caution.

"All the reports that are floating around ... there really is no deal until our players approve it," Foxworth told the NFL Network as he left the site of the negotiations.

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Still, Thursday marked the most progress made during the 4-month-old lockout.

According to multiple reports, the sides agreed upon a rookie wage scale, the revenue split and the salary cap.

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Players will reportedly receive 48 percent of the revenue, which is down from the previous mark of 51 percent. Owners will take $1 billion off the top.

The cap will reportedly be set at $120 million, the same amount for the last time there was a cap in the NFL (which was 2009). But teams will likely have to spend 95 percent of that -- which is the new salary-cap floor -- which should cause some heavy spending during free agency.

The next step is to finalize free agency, drug testing and benefits for retired players.

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