"The league, of course, negotiates the national contracts for all its teams. Individual franchises hold their own deals for preseason contests and for local radio broadcasts of preseason and regular-season games. The loss of the antitrust exemption, which certainly appears unlikely, would prohibit the NFL from bargaining for all 32 of its member teams.
Under such a scenario, teams would negotiate their own broadcast contracts, and some franchises clearly would command much larger rights fees than others. Currently, all of the league's teams share the rights fees equally, and that is the cornerstone of the NFL revenue-sharing model. "
They’d only go to individual contracts if the owners were stupid. The reality is the reason the contracts are worth so much money is because they’re all national and all negotiated at once with newer contracts than contenders. If the anti-trust exemption went away the owners would just find a way to “sell” their contracts to the league.