Is the NFL a Monopoly?

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The Supreme Court is slated to hear an appeal soon from a company that lost an NFL contract:

On Jan. 13, the pro football owners will be asking the high court to rule for the first time that the NFL is shielded from antitrust laws because, while its teams compete on the playing field, they function in business as a “single entity.”

….In its appeal, the NFL asked the justices to rule broadly that a pro sports league can be “deemed a single entity” and is thereby immune from the antitrust laws “with respect to core venture functions.” This should include matters such as “where to locate its clubs” and “the terms and conditions of player employment,” the league’s lawyers said.

Obviously I’m confused about something, but if the NFL is a “single entity” — i.e., the only pro football entity in America — shouldn’t that mean they’re especially subject to antitrust laws, not immune from them? What am I missing here?

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