NHL and NHLPA agree on salary cap

[CanadianChris 0]

A deal is inevitable at this point...

 

TORONTO -- The NHL and the NHL Players' Association have agreed on a salary-cap system, eliminating the biggest stumbling block to the resumption of play next season, the Toronto Globe and Mail reported on its Web site Wednesday.

 

The paper reported that a source close to the owners, and another close to both owners and players, said there would be a team-by-team salary cap, based on a percentage of the revenue of each franchise.

 

In what is believed to be a six-year agreement, based on revenue projections by both sides, the salary cap will range from $34 million to $36 million, with the floor from $22 million to $24 million.

 

The league has previously demanded that the cap be 54 percent of a team's revenue.

 

However, this does not mean that an overall deal on the lockout is imminent. Negotiators for the players and owners are now working on other issues such as salary arbitration and free agency, according to GlobeandMail.com.

 

"They still have a ways to go," one source told the paper, although with the cap issue settled there is reason to hope a deal can be reached by early July.

 

NHL vice-president Bill Daly, the league's chief negotiator, declined to confirm or deny reports of a salary-cap deal.

 

But he did say publicly on Tuesday that negotiators had moved on to other issues, including salary arbitration, free agency, qualifying contract offers and others.

 

The lockout caused the cancellation of the 2004-05 season.

[starvenger 0]

Were the two idiots present at the meeting? Because if they weren't, I could see this getting sunk...

[smh810 0]

Kevin, I understand the cynicism but theyre not going back at this point. Bob McKenzie had alluded that this deal was reached last week and theyre only making it known now.

[nl5xsk1 0]

I've heard that they're at the point where lawyers are going through the paperwork now and that it's believed that on Monday they'll announce that this whole debacle is over.

[CanadianGuitarist 0]

Until the NHL or the PA announces it themselves, grain of salt, baby.

[nl5xsk1 0]

Oh yeah, CG, no doubt ... my "sources" are Lyndon Byers and P.J. Stock, the former is part of a morning show here in Boston and the latter is a friend of the show. They were talking about Neely's induction into the HHOF and it segued to the lockout. From what they saying, a lot of insiders are saying it's likely to be over.

 

But like you said, until I hear it's officially over, I'm going to be pretty pessimistic and skeptical.

[starvenger 0]

Kevin, I understand the cynicism but theyre not going back at this point.  Bob McKenzie had alluded that this deal was reached last week and theyre only making it known now.

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As nl5xsk1 said:

until I hear it's officially over, I'm going to be pretty pessimistic and skeptical.

And when it is over, I hope they get rid of those two.

[Prophet of Mike Zagurski 0]

For the last three weeks, I have sat behind a hockey bench as an assistant coach, player, waterboy, and stat boy. I could care less about the professionals because I have seen high schoolers play for pride and they were not getting money for playing.

[CanadianGuitarist 0]

Kevin, I understand the cynicism but theyre not going back at this point.  Bob McKenzie had alluded that this deal was reached last week and theyre only making it known now.

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As nl5xsk1 said:

until I hear it's officially over, I'm going to be pretty pessimistic and skeptical.

And when it is over, I hope they get rid of those two.

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I'm not sure. They certainly have their faults, but they have done good for both sides.

 

And who am I kidding? I'm stoked. I'm excited. I'm pumped for this announcement.

 

If not, well, easy come, easy go, I guess.

[Red Baron 0]

I guess the NHL and the NHLPA agreed for players to play in the olympics in Torino.