Deal in principle
Pending ratification, lockout could officially end next week

Friday, August 31, 2007

The NHL and NHLPA Wednesday took a major step towards ending the longest labor dispute in North American sports history. After ten straight days of talks the two sides finally reached an agreement in principle on a new Collective Bargaining Agreement. If all all goes well in the ratification process, the lockout, which is now in its 301st day, will officially end next week.

The league sent out this release Wednesday: "The National Hockey League and the National Hockey League Players' Association have reached an agreement in principle on the terms of a new Collective Bargaining Agreement.

"Details of the new Agreement will not be made available publicly pending the formal ratification process by the NHLPA Members and the NHL Board of Governors.

"It is anticipated that the ratification process will be completed next week, at which time the parties will be prepared to discuss the details of the Agreement and plans for next season. No further comment will be made until then."

But details of the agreement, which is a six-year deal, have leaked out over the past several weeks. Some of the key provisions are expected to be:

  • In the first year of the deal the salary cap range is expected to range from a floor of $21 million to $39 million and includes all player costs.
     

  • Overall player costs will be capped at 54 percent of league revenues.
     

  • There will be a 24 percent salary rollback on all existing contracts.
     

  • Unrestricted free agency is expected to drop to 27 by year four of the deal.

TSN in Canada reports that the league is hoping to make the official announcement of ratification on July 21. At the same time the league will hold the draft lottery, which is expected to give teams that have fared poorly the last few seasons a better shot at the first pick and teen sensation Sidney Crosby.

The scaled down version of the draft is tentatively scheduled for July 30 in Ottawa.

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