NEWS LINKS ONLY - Lockout News & Updates
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01-01-2013, 07:43 PM
Join Date: Nov 2004
The key issues for the players are the drop in the salary cap in 2013-14, the first full season since the lockout began, and what they will lose in salary through escrow. In their latest offer, the owners called for a pro-rated $70-million (all currency U.S.) cap for whatever length this season is, with the cap dropping to $60-million in 2013-14. Both sides have already agreed to a 50-50 share of league revenue and the $60-million cap is based on the $3.3-billion in revenue the NHL earned in 2011-12, albeit split 50-50 with the players.
However, the players want a gradual drop to a cap based on a 50-50 split while the owners want it in 2013-14. The players also want the owners to guarantee a minimum escrow hit on their pay cheques.
It is thought the players asked for a $67-million salary cap in 2013-14, which is based on their 57-per-cent share of the 2011-12 revenue, and for a cap on their escrow payments. The owners have thus far refused to consider a cap on escrow.
Sources with ties to the players have said if the owners are willing to accept a $67-million cap in 2013-14, the players would be willing to sign a new agreement for 10 years, which was demanded by the owners.
Another major issue was salary variance. The owners originally wanted no more than 5-per-cent variance in a player’s salary from year to year but raised that to 10 per cent in last week’s offer. Sources close to the players suggested this could be acceptable to them.
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