Breaking Sports

Tuesday, June 21, 2005

nhl- No Deal Yet

from the Toronto Globe and Mail, The National Hockey League labour talks continued yesterday in Toronto, with both sides playing down reports of more progress.
At this point, lawyers for both sides are going over many issues line by line, and neither side is prepared to say it has completed agreement on anything, although both the league and the National Hockey League Players' Association admit a deal is in sight in the next couple of weeks. They are expected to meet every day this week.
The New York Post reported on Sunday that there is a tentative agreement to allow clubs to buy out existing player contracts for two-thirds of their value, which was the same amount in the old agreement, without counting the payments against the new salary cap.
This is an important step, as many clubs could not get down to the new cap and floor, expected to be between $22-million and $36-million, without that privilege. The catch, according to the Post, is that clubs that would buy out a player would not be allowed to re-sign the player to a lower amount. He could sign only with another club....read on...