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NHL Salvages Season, Tentative Agreement Reached to End Lockout

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By HVsports on January 6, 2013

After a 16-hour marathon bargaining session, after more than 600 canceled games, it appears the NHL brass and its players union have reached an agreement to salvage what’s left of the 2012-13 season.

Now let’s all celebrate by eatin’ wine and drinkin’ cheese.

Here’s a brief statement from NHL Commissioner Gary Bettman, who has presided over three work stoppages in his two decades at hockey’s helm, and NHLPA executive director Donald Fehr, who has presided over work stoppages in two different sports (he led the baseball strike in 1994):

NHL.com provides a look at some details:

A look at some of the key details from the tentative collective bargaining agreement announced by the NHL and the players’ association on Sunday morning:

— 10-year deal, and each side is able to opt out after eight.

— Free-agent contracts are limited to a maximum length of seven years, but clubs can go to eight years to re-sign their own players.

— Players’ share of hockey-related income drops from 57 per cent to a 50-50 split.

— The salary cap for the upcoming season is $70.2 million, and it will go down to $64.3 million in the 2013-14 season.

— The salary in individual player contracts can’t vary more than 35 per cent year to year, and the final year can’t be more than 50 per cent of the highest year.

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