Okay, so I am going to completely wuss out on this. Here is an excellent article which sums up that which I spent this weekend reading about
:
Why American Needle v. NFL is most important sports case - Michael McCann - SI.com
Essentially, I believe saden is correct - regardless of the "single entity" theory - nothing prohibits the players from negotiating a CBA through their union. Baseball already has an anti-trust exception and its players move readily enough.
While this case may create lots and lots of work for attorneys as they sort through and memorialize the structural changes that will occur as a result of an affirmance of the 7th Circuits position, I don't believe it will fundamentally change the way players and club owners deal with each other. Unless the players agree to it, there is not going to be a roll back to the 1970's when it comes to owners "ownership" of players.