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Saturday, June 25, 2005

nhl- Gary Thorne, "$50m Cap"

from the Bangor Daily News, As the summer skies finally fill the days and nights, let us turn to that most necessary element for summer fun - ice. In this case we speak of the NHL ice that long ago melted and the attempts to refreeze it at the bargaining table.
Owners locked out the players last year and the season was lost. Until the last 45 days, negotiations to reach a new collective bargaining agreement had been minimal and lurching at best.
The parties are now serious. The thought of losing another season is untenable. The structure for an agreement has been reached.
Each team will have a salary cap that will be flexible based on team revenues. There will be a team salary ceiling, probably in the $50 million range. Younger players, especially those just entering the league, will take a big hit with a cap on their salaries in the $400,000 range.
There probably will be a revenue sharing plan that will penalize teams for exceeding the cap, but that is iffy because it is the intent of most owners to make sure there is none of the NBA spending in excess of the cap that existed under the just-expired NBA deal....read on...