The NFL owners unanimously voted to opt out of the current collective bargaining agreement today. They are sad because they aren't making enough money. That is probably the most ridiculous thing I have ever heard. They are upset because the players receive 60% of the revenues. Note to the owners: Without players you have nothing.
The most immediate ramification from this would be an uncapped year in 2010. Obviously uncapped is not a good thing for the Titans because of the Nashville market. There is no way this organization would be able to spend with the teams from the bigger markets.
The worst ramification from this would be a strike in 2011. It would be insane for the owners and players to mess up the current momentum of the NFL. Baseball was the American Pastime until the strike that cancelled the World Series in 1994. I doubt that an NFL strike would hurt the sport as much as the baseball one did, but it could still hurt the sport's popularity. Hopefully they will be able to work his out before any of this happens.