While there are a lot of strong defenses to the NFL's current licensing arrangement (e.g., pro-competitive effects, undue delay in bringing suit, etc.), I have long held the position that the NFL is not--and can never be-- a single entity. This is because the NFL is composed of 32 separate teams, with separate owners each containing disparate economic interests.
Indeed, the NFL teams have tried to defend their concerted conduct under the single-entity defense on eight prior occasions. Thus far, the NFL is 0-for-8 in those cases (sounds like the start to the 2008 Detroit Lions season).
In addition, the NFL's single-entity argument has severe economic holes in that NFL teams compete against each other, or at least historically have competed against each other, in a wide range of markets, including ticket sales, naming rights and new media. Despite the Seventh Circuit's claim, the single-entity defense has never before applied on a market-by-market basis. Either the NFL is a single-entity (which seems to make little sense when looking at all of these markets in the gestalt), or it is not a single entity (which is the conclusion that hopefully the Court will ultimately reach).