After 113 long, wrenching days, the NHL and NHLPA have announced the lockout was over after they agreed in principal to a framework of a new Collective Bargaining Agreement (CBA).
The league and the players union took part in a marathon of talks yesterday that lasted over 16 straight hours. Several players were present and had a strong voice in wanting to get this deal done as soon as possible. This includes Martin St. Louis, Jamal Mayers, Shane Doan, Mathieu Darche, and Andrew Ference among others. The biggest issues the two sides had to tackle included contract variance and the salary cap for this upcoming season. They had to take and give on these and other topics to eventually get a deal done.
At 4:40am, the NHL, led by Gary Bettman, and NHLPA, headed by Donald Fehr, had a joint press conference to announce the deal agreement. The CBA will be ratified by the players today and by the Board of Governors early this week. Some of the main details include:
- This season will run a 48 game season starting January 19th
- CBA length is 10 years with a mutual opt-out after the 8th year
- Owners and players split Hockey Related Revenue (HRR) at 50/50
- This year’s salary cap will be pro rated at $70.3M and next year’s salary cap will be $64.3M. The salary cap floor will be at $44M for both seasons.
- Free agent can sign deals with a maximum length of 7 years. Teams resigning their own players can sign deals up to 8 years.
- The maximum salary variance per season is 35% (ie. the second year’s salary of a deal cannot be more than 35% higher or lower than the previous year’s salary).
- The minimum salary contract for this season is $525,000 and raises each year to $750,000 in the 10th year.
Now that the deal is done lets play some hockey!
More to Come..
Follow me on Twitter for exclusive news & content!