I still think the best system for the league as a whole financially would be one with revenue sharing funded by a luxury tax, but considering the NHLPA themselves have stated this is a no go, here's the best system I can think of, given the constraints.
01. CBA length = 6 years
02. Percentage of average HRR paid out in each year = 50%
03. Hard Cap = 60% (at $3.3 billion = $66 million)
04. Hard Floor = 40% (at $3.3 billion = $44 million)
05. Escrow used as before
06. Maximum contract length = 5 years
07. Entry level contracts = 5 years
08. RFA status eliminated
09. Players become UFA's at end of ELC
10. Maximum player salary = 20% of Hard Cap (at $66 million = $13.2 million)
11. Minimum player salary = 1% of Hard Cap (at $66 million = $660,000)
12. Initial signing bonus = maximum one third of entire value of contract
13. Remainder of contract must be a uniform amount each year
14. Teams can buy out two players each, with no penalty, upon ratification
