No the NFL does not own the US but courts do not make laws. Your getting bold again. There is no specifics in the bankruptcy laws and the CBA which is a contract governs playing rights. Filing bankruptcy doesn not necessarily change the playing rights and make a player a UFA, sorry to burst that bubble. Unless the CBA and NFL rules included in CBA violate Federal laws, then the court will not supercede this CONTRACT. Bankruptcy eliminates the debt if file chapt 7, total liquidation, doesnt eliminate the CBA.