Sources: Burress would serve one-game suspension, halve financial penalty

The New York Giants and wide receiver Plaxico Burress neared a settlement Friday in which Burress will agree to a one-game suspension but have the financial penalties he faces after disciplinary action reduced, league sources told ESPN.

If the settlement is reached, Burress will still miss the Giants game on Oct. 5 against the Seattle Seahawks but he will lose just half of the $235,294 he is being docked for a two-week suspension.

As a final condition, sources said, the Giants would agree not to pursue action against Burress seeking any bonus money he could owe under a forfeiture clause in a $35 million contract extension he signed just before the regular season opener.

Under the clause, Burress could lose a portion of his bonuses if he is suspended or fined for conduct detrimental to the team. His escalator bonuses for future salary also could be affected without an agreement by the Giants to forgive the penalty.

In turn, Burress would agree to waive his right to an expedited hearing before an arbitrator, which would be heard Monday or Tuesday without a settlement. Talks accelerated Friday with an agreement at hand, sources said.

Burress was suspended Wednesday for a violation of team rules. Sources have confirmed that he did not report to work on Monday and was unavailable by phone. His agent, Drew Rosenhaus, said that Burress was tending to urgent family matters.

Chris Mortensen is a Senior NFL Analyst for ESPN.