NHL teams posted record losses of nearly $300 million last season, according to figures distributed to owners this summer.
That was an increase of 35 percent from the $218 million in operating losses incurred by the league last year.
The losses are blamed on soaring player salaries. Without a salary cap, the NHL spent 76 percent of $1.93 billion in revenue on players salaries and benefits. That is a greater percentage than in the NBA, NFL or major league baseball.
"This is a level at which no business can survive," Bill Daly, the NHL's chief legal officer, told The Wall Street Journal in an article about league finances. "The league will lose teams and players will lose jobs if we can't fix this."
I think the owners should pull ahead in this one. They have what the NHLPA doesn't and that's public sentiment. The hockey public seems to think it's the players salaries that are the problem, so either the NHLPA does a little reputation management (which I'm not sure they are capable of), they just bite the bullet and bow to the owners or they kill hockey. It's their choice.