The NFL and club executives have agreed on a proposal to raise the debt limit for each franchise from $350 million to $500 million for the 2020 season. The agreement is a response to the financial uncertainties surrounding the COVID-19 pandemic.

Owners will formally vote on the proposal next week.

The increased debt limit had been discussed internally for weeks with clubs pushing for access to extra money. 

Teams could lose tens of millions of dollars in local revenue if games are played in empty stadiums.

According to his estimates, the NFL would lose about $138 million in revenue from tickets and gameday fan spending for each week played without fans. A full season without fans could cost the league nearly $2.3 billion.