All, to help calm your nerves, please read the second page of the letter:
http://www.bostonglobe.com/sports/2...GFP/story.html?p1=Article_Related_Box_Article, and also take note that this was a joint submission (so the NFLPA agreed to this schedule).
It provides that by 8/7 (one week from today), the parties will file their cross motions to vacate Goodell's award (NFLPA) and to confirm in (NFL). So in no way has Brady given up his right to sue here, as he will be suing to vacate the award. Indeed, Brady "intend
to file later today a public version of an Answer and Counterclaim." So Brady is still suing the NFL. Note that we will all probably be disappointed by what this document contains, since it will redact all confidential materials.
What Brady has given up here is his right to seek a preliminary injunction. I actually think this is preferable, assuming the Court will agree to this schedule. A preliminary injunction, though likely to be granted, carries with it the possibility that the suspension could be re-imposed during the season, which none of us would like. This schedule, again if it is approved by the Court, guarantees that this matter will be adjudicated before the start of the season.
I am a lawyer too (though not a labor attorney), and happy to help answer questions.