NEWS LINKS ONLY - Lockout News & Updates
View Single Post
01-01-2013, 07:43 PM
Join Date: Nov 2005
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.
View Public Profile
Find More Posts by Fugu