Breaking Sports

Monday, July 11, 2005

nhl- Still Talking

via the NY Post (reg. req.), It looks as if the NHL lockout will reach its 300th day tomorrow, after all.
Hopes for a tentative settlement had been pinned on today's league executive committee meeting, but it now is believed a concrete "deal" will not be put before the select governors, although the sides met well into last night trying to hammer out the deal.
It is thought that today's meeting will be more of an update-and-feedback session to review the reams of regulations the sides have been codifying during the past six weeks.
At the same time, one source told The Post that the Players Association will not be putting any complete CBA document before its executive committee today.
"At this point in time, there is nothing further to present," the source said.
The Players Association is believed to have a conference call scheduled to update its executive committee members on the progress of the past several weeks.
Negotiations during the past month have mainly pitted Players Association senior director Ted Saskin against NHL vice president Bill Daly, along with lawyers from both sides. Neither side's executive committee had been in those trenches.
The sides are believed to be close to presenting a tentative deal to their respective constituencies.
Each team will be subject to a salary cap of some $39 million, including benefits, and the top salary can only represent 20 percent of that figure. Teams are expected to buy out players in order to clear the cap. That $39 million cap essentially requires the league to bring in $1.7 billion in revenue; if it falls short, it keeps the commensurate part of that 15 percent escrow. Some incentive to grow the game, eh?
So a player will only be guaranteed some 65 percent of his 2005-06 pay, and those expecting a box office business and hefty revenues when hockey returns may be sorely disappointed.