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Update: PA Appears on Board w/ 10-year CBA |
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UPDATE 11:55 AM EST (1/2/13)
Just a quick note for now. It is believed that one of the big CBA hurdles has been cleared. The PA has reportedly agreed (with some catches) to a 10 year CBA.
More to come throughout the day.
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A few million people gathered near the NHL offices last night hoping for a big announcement, but left shortly after midnight disappointed by the lack of a deal. On the bright side, they got to celebrate the start of a new year.
Meanwhile, inside League headquarters, there were many who stayed late into the evening parsing out the PA's counter to the NHL's proposal submitted last week.
As much as we would have all loved to have seen the NHL and NHLPA meet throughout last night, it is good to see the two sides are on a path calculated to end the lockout rather than one guaranteed to prolong the process. The two sides are taking the time to fully understand each other's proposals and then hold serious negotiations.
I predict today will be a marathon day. We've FINALLY hit the phase where an agreement gets hammered out. All those who have been screaming for months for the sides to go into a room, lock the doors, and not come out until the deal is signed, today should be that day.
We still don't know much about the NHLPA offer, which is a good thing. Neither side would go into any specifics. What we do know the PA didn't throw in any monkey wrenches, and we also know they moved toward compromise from their last offer.
When you look at the NHL's last offer and you look back to the PA's last offer you see things such as:
* The NHL offered six-year max contracts.
* The last NHLPA offer was eight-year max contracts.
If the PA has truly moved toward the middle ground, well, you do the math.
The biggest issue now that's left appears to be the salary cap number a team needs to get under to be compliant in year two. At the strong behest of smaller-market teams, the NHL wants to drop the cap ceiling from a prorated $70 million this year directly to $60 million for the 2013-14 season.
Normally, the salary cap floor-to-ceiling equates to the share being paid to players. However, until the NHL grows to the point where $1.87 billion represents 50% and not 57%, these transitional salary caps will exist.
But remember, the revenue share falls to 50% this year regardless. The debate at this point is more about the escrow money the players will get back, and how many moves a team will be able to make.
The NHL could make next year a $70 million cap ceiling, but the players will end up giving back enough money in escrow to push it down to the figure the NHL wants. Players hate that idea, but it might be better than team's having to trade players and this summer's UFAs not having any place to sign.
In other words, as long as it is 50/50 the NHL may give in on the transitional-year cap issue. The only reason the league has NOT done it so far is because the NHL has been pretty happy with the fact that in the past seven seasons, the players haven't lost their escrow money. But you have to get to 50/50 somehow to get a deal done here.
Stay tuned. Here's to a long day and a puck dropping shortly after the ball dropped in NYC.
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