The best way to think about the old NFL collective bargaining agreement is as a beautiful magic cloak. It allowed the owners a kind of charmed invisibility when it came to collusion, to artificially controlling competition, to inhibiting player movement, to making their costs certain, and generally suppressing every free market principle. The fact that they had the consent of players via collective bargaining created a non‐statutory labor exemption — it gave the owners legal cover for the socialistic anti‐competitive way they operate. […] The owners, almost incomprehensibly, voluntarily stripped off their magic cloak and ripped it to shreds, when they opted out of the CBA and demanded $1 billion in concessions from players. They tore up their cloak because, they said, their share of $9.4 billion in revenue wasn’t enough to support them in the style to which they’ve become accustomed.