The Supreme Court ruled on the American Needle Case yesterday. In a unanimous 9-0 decision, the court ruled that, when it comes to licensed merchandise, the NFL is composed of 32 competing firms, and is not a single entity. The NFL did not get the anti-trust exemption it was seeking. Under this ruling, the case goes back to the lower court with the instruction to apply the "Rule of Reason." Justice Stevens' opinion is available here.
(Hat tip to Ryan Rodenberg)