Updated Title: 8th Circuit Court Grants Stay, Lockout Reinstated

[CRedskinsRule]

closer (and again, when I say that I mean to my understanding, which is not legally certified)

By decertifying, the players put the owners in a no win situation. If they lockout, that is legally illegal (meaning it violates anti trust). If they play with any set of agreed rules, it is legally illegal. The only legally legal option would be to remove all barriers to player movement (draft, FA, Franchise tags, salary cap/floor, etc) and allow all movement. The owners will not do that because they then have no position to bargain.

Your last sentence:

Now it's in the courts hands. The owners are hoping the courts will be fair and say they can keep the extra billion or atleast split it 50/50. The players are hoping the courts look at it and say no the owners can not take away from what you already have.

is where you get way off track. The courts cannot, and will not mandate any type of pay, or what is appropriate compensation and/or split of revenue.

Instead, the court will rule on the legality of a) the de-certification, and b) the ensuing lockout. If the courts say the decertification is invalid, or that it is the NLRB's place to make that decision, then the owners get a significant win, and hopefully the players come back more willing to find agreement. If the courts say that the decertification stands, then they will have to say the lockout is invalid, and the owners can follow three options:
1) put temp rules in place and get a deal done to avoid anti trust lawsuits (most likely imo)
2) put no rules in place and allow all movement, no restrictions, and then fight for CBA without as much threat of anti-trust lawsuits(not really likely because of the precedents and weak bargaining position)
3) shut down NFL offices, and void the league, allowing teams to create new and competing leagues (nuclear option if everything goes against the owners, mostly scare tactic with no real chance of happening)

Hopefully, once the Jun 3rd hearing takes place and a decision is made both sides will finally negotiate properly.