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I believe they can except in this case, Brady would still have suffered financial damages by losing 4 game checks, so even if he accepts the suspension while the appeal is still pending, he still would have some skin in the game.Can an appellate court dismiss the case as moot because the aggrieved party is no longer injured? If so, that's exactly what clement will say in a motion if brady serves the suspension.
(Plus, as mentioned above, in this case there is a far larger issue of federal arbitration at stake, not just Brady)