Retired NFL players won’t hold up labor deal

The hours are counting down on the longest labor dispute in NFL history.

With all signs pointing to league owners ratifying a new collective bargaining agreement later this week, lawyers representing the players were working into the evening Tuesday on a draft of the settlement for the players to approve. That document is scheduled to be presented Wednesday in Washington to the executive committee of the NFL Players Assn.

“The grass is cut, but the hay is not in the barn yet,” said Kevin Mawae, NFLPA president. “We’ve got a lot of work to do.”

Meanwhile, in New York, representatives of retired players participated in seven hours of labor talks and said they will not try to delay a deal.

“They want to get these games going, and they want to have a season. That’s their focus,” said Hall of Fame defensive end Carl Eller, who attended the talks. “Our issues are very, very critical -- very important -- but they don’t really have much to do with whether the game goes on or not.”

Team owners are convening for a special meeting in Atlanta on Thursday and are expected to vote on the deal, which needs a three-quarters majority (24 votes) to pass. It is reportedly a 10-year agreement that assures players between 46% and 48% of the league’s total revenues, which now exceed $9 billion per year.

In order for the sides to bargain collectively, the NFLPA must re-form as a union, reversing the move the body made in March when it decertified and became a trade association.

It is unlikely the players will choose to withdraw their class-action antitrust lawsuit against the owners. Therefore, the labor agreement almost surely will come in the form of a settlement, as was the case when players and owners came to terms in 1993.

There are reports that at least some of the plaintiffs named in the pending antitrust lawsuit -- including quarterbacks Peyton Manning and Drew Brees, receiver Vincent Jackson and offensive lineman Logan Mankins -- intend to ask for compensation in exchange for dropping their case.

As of Tuesday evening, both Brees and Jackson had denied on Twitter that they had demanded special treatment, with Brees writing: “All media claims about me wanting a personal reward for this deal are false. I hope you all know me better than that” on his Twitter page.

It is likely that any global settlement also would address the so-called “lockout insurance” suit, which the players won at the district-court level and involves deals the NFL struck with broadcasters for $4 billion in payments in the event games were canceled this season.

sam.farmer@latimes.com

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The Associated Press contributed to this report.