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NHL Lockout Finally Reaches an End
Author: Scarinci Hollenbeck, LLC
Date: January 14, 2013
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Hardcore hockey fans that have been awaiting the end of a 113-day lockout must be relieved that the NHL hockey season will finally resume.
Following an overnight 16-hour bargaining session, the National Hockey League Players Association led by Donald Fehr and the National Hockey League commissioner Gary Bettman were able to come to accord regarding new labor contracts. In a press conference at 6 a.m. in New York, Commissioner Bettman said that while there is still a lot of work to do, the most pressing issues that led to the lockout have been resolved.
“[NHL Players’ Association director Donald] Fehr and I are here to tell you that we have reached an agreement on the framework of a new collective bargaining agreement,” he told reporters. “We have to dot a lot of I’s and cross a lot of T’s. There is still a lot of work to be done, but the basic framework has been agreed upon.”
While there are several specifics to still be announced, the biggest details to leak from the agreement include a prorated $70.2 million dollar salary cap this season. NHL teams are also banned from locking up players to contracts that exceed eight years. The new deal also ensures an increase in revenue sharing and team owners agreed to guarantee players’ pensions.
As the details of the agreement are worked out, an abbreviated season is set to begin in the near future. The traditional 82-game season will likely be reduced to 48 games, and players are expected to return to training any day now. The Stanley Cup Finals may also be extended into late June, rather than earlier in the month as it would normally play out.
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NHL Lockout Finally Reaches an End
Author: Scarinci Hollenbeck, LLC
Hardcore hockey fans that have been awaiting the end of a 113-day lockout must be relieved that the NHL hockey season will finally resume.
Following an overnight 16-hour bargaining session, the National Hockey League Players Association led by Donald Fehr and the National Hockey League commissioner Gary Bettman were able to come to accord regarding new labor contracts. In a press conference at 6 a.m. in New York, Commissioner Bettman said that while there is still a lot of work to do, the most pressing issues that led to the lockout have been resolved.
“[NHL Players’ Association director Donald] Fehr and I are here to tell you that we have reached an agreement on the framework of a new collective bargaining agreement,” he told reporters. “We have to dot a lot of I’s and cross a lot of T’s. There is still a lot of work to be done, but the basic framework has been agreed upon.”
While there are several specifics to still be announced, the biggest details to leak from the agreement include a prorated $70.2 million dollar salary cap this season. NHL teams are also banned from locking up players to contracts that exceed eight years. The new deal also ensures an increase in revenue sharing and team owners agreed to guarantee players’ pensions.
As the details of the agreement are worked out, an abbreviated season is set to begin in the near future. The traditional 82-game season will likely be reduced to 48 games, and players are expected to return to training any day now. The Stanley Cup Finals may also be extended into late June, rather than earlier in the month as it would normally play out.