Tuesday, October 16, 2012

NHL Submits Offer

Today, the NHL took a huge swing at trying to end the lockout. The NHL submitted a 50/50 revenue split offer to the NHLPA this morning during negotiations. Mark Driver has more here.

In the previous collective bargaining agreement, the players owned 57 percent of the revenue and the owners collected just 47 percent of the total annual revenue. For the new CBA, the owners certainly want that number to increase.

In the proposal that was submitted to Donald Fehr, head of the NHLPA, and his staff calls for a 50/50 split of the total revenue. As of right now, Fehr and his staff are looking over the proposal.

The offer also stats that the NHL season would begin on November 2nd and a full 82 game season would happen. Since it would start late, it would end up extending into June.

One expert tweeted today that he expects negotiations to continue on for a few more weeks before a deal is finally agreed upon. One things for certain, the ice has been broken (no pun intended) and the two sides actually appear to be making progress.

After the last set of discussions last week, many believed that the lockout would go well into December. Neither side had yet to discuss the revenue sharing aspect of the deal and that was the biggest and most complicated issue.

The NHL and the NHLPA made a huge step towards ending the lockout. The NHL had yet to offer the NHLPA a deal this good  in negotiations so the fact that they conceded that much is positive. The NHLPA, however, still has the opportunity to decline this proposal and basically start from square one.

But, hey...at least they are talking.

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Source: Providence Journal