Tentative deal reached to end NHL lockout

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After months of being locked out, a tentative agreement was reached on Sunday between the players’ union and the NHL to end the 112 day lockout.

Here are the new CBA details via The Canadian Press:

  • The CBA will run for 10 years, with an option to terminate the deal after eight
  • Players receive defined benefit pension plan
  • Owners and players split revenue 50-50 each season
  • A pro-rated salary cap of $70.2-million for this season; cap of $64.3-million next year
  • The salary floor will be set at $44 million for both years.
  • Seven-year limit on free-agent contracts (eight-year limit when a team signs its own player to an extension).
  • Teams can only walk away from a player in salary arbitration who is awarded at least $3.5 million.
  • Each team will be given the option of two “amnesty buyouts” that can be used to terminate contracts before the next two seasons
  • Revenue sharing between teams increased to $200 million annually
  • Any player on a one-way contract who plays in the AHL with a salary in excess of the NHL’s minimum salary plus $375,000 will have the excess amount charged against his team’s salary cap.
  •  Unrestricted free agency continues to open on July 1.
  • The participation of NHLers in future Olympics has yet to be determined. The decision will be made outside of the CBA.

Here is NHL commissioner Gary Bettman’s statement on the deal.

“We have reached an agreement on the framework of a new collective bargaining agreement, the details of which need to be put to paper,” Bettman told a news conference. “We’ve got to dot a lot of i’s and cross a lot of t’s. There’s still a lot of work to be done but the basic framework of the deal has been agreed upon.”

[CBC]


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