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NHL Offers 50/50 Split to NHLPA

"Greed is good" - Gordon Gecko

Bruce Bennett - Getty Images

According to NHL Deputy Director Bill Daly, by missing the pre-season and the first week and half of the regular season, the NHL and the owners have lost revenue upwards of $250 million.

That's a lot of money in the $3.3 billion dollar pie. According to ESPN's Pierre LeBrun, the NHL has offered a new plan to the NHLPA. In the broadest overview, the new offer contains an immediate 50/50 split of Hockey Related Revenue (HRR) and a contingency plan to allow for an 82 game season (i.e. get back the lost $250 million) with games starting as soon as November 2nd. Donald Fehr, head of the NHLPA, has acknowledged receiving the deal and will share it with the players tonight at 5:00pm on a conference call. His intention is to have a quick response by the PA.

John Shannon of Sportsnet has released some of the other details in the offer: free agency begins at 28 and after 8 years of service; entry level contracts are four years; revenue sharing approximated $200 million; maximum contract length is five years; and arbitration remains in place.

Dan Rosen of reports that there is no rollback on salaries. On an 82 game season, there would be one week of training camp before the season opens. The compression of the schedule 'would include one extra game every five weeks per team' per Bettman.

Darren Dreger of TSN states the that any lost salary incurred by the players to move their share of HRR down to 50% would be paid back over the remaining life on their current contracts.

This is a humongous big development. We'll provide updates as they roll in. Send positive vibes to NYC!