[mdmarra]

The NFL is an entity which represents the interests of the teams' owners. The commissioner is appointed by the owners. It bargains collectively against the Player's Union and handles things like national television deals, officiating, and scheduling.

The teams themselves are where almost all of the money is. Each one operates like an independent entity that has to follow rules set forth by the NFL. This is why they're called "franchises." The NFL does gross millions of dollars each year, but it's a tiny fraction compared to each individual team and the teams themselves do not enjoy the same tax status that the league itself has.