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Old 06-09-2005, 06:47 AM   #1
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NHL!!! Finally!!!!!!

Report: NHL, NHLPA agree on cap formula


TSN.ca Staff with CP, Globe and Mail files



6/8/2005 2:06:13 PM

The Globe and Mail reports that the NHL and NHL Players' Association have agreed on a formula for a salary-cap system based on team-by-team revenue.

According to the Globe's league and player sources, a salary floor and cap will be based on a percentage of each NHL team's revenue. The paper adds that in the first year - based on revenue projections by both sides - the salary cap will range from $34 million to $36 million US, with the floor from $22 million to $24 million US.

The salary-cap issue was seen as the biggest hurdle in talks for a new collective bargaining agreement.

The Globe also reports that the formula calls for a dollar-for-dollar luxury tax to kick in at the halfway mark between the floor and the cap. If the floor of the lowest team is $22 million US and the cap on the highest team is $36 million US, then the 'tax level' will be $29 million US.

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The formula would allow wealthier teams to spend a bit more money, but would also bridge the large gaps in spending between higher payroll teams and lower payroll teams.





Union spokesperson Jonathan Weatherdon, however, said the Globe's report was premature.

"The NHLPA and NHL discussions this week continue to cover a range of issues such as controls on team salaries, revenue sharing, Olympic participation, the amateur player draft and player retention rights," Weatherdon said. "While the parties continue to have discussions to reach a common ground no agreements have been reached."

Small group labour talks between both sides ended late Tuesday night and resume today in New York with a larger group meeting.

Both sides have carried over the momentum from last week when 34 hours of talks were described as 'progressive' from both sides.

There are several issues to iron out, but sources in both camps told the Globe there's a chance a deal could be done before July. Still, both sides also concede there are potential pitfalls that could prevent an agreement from being reached.

Today's session is the 21st meeting between the two sides since the season was cancelled Feb. 16.

Files from CP and The Globe and Mail were used for this report.


http://www.tsn.ca/nhl/news_story.asp...14&hubName=nhl
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Old 06-09-2005, 07:12 AM   #2
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Old 06-09-2005, 07:16 AM   #3
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However, this does not mean that an overall deal on the lockout is imminent. Negotiators for the players and owners are now working on other issues such as salary arbitration and free agency, according to GlobeandMail.com.

"They still have a ways to go," one source told the paper, although with the cap issue settled there is reason to hope a deal can be reached by early July.
what does it say about the NHL that this story about an agreement on a cap is the 6th leading story on ESPN.com?
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Old 06-09-2005, 07:58 AM   #4
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what does it say about the NHL that this story about an agreement on a cap is the 6th leading story on ESPN.com?

I find it really sad that hockey's never really caught on as a major sport here in the US. I remember back about ten or so years ago they were heavily promoting it, with the games on FOX (and that stupid little blue dot keeping track of the puck ) and of course, that was just before or after the last lockout hit. Being from Detroit, where (for a time) the Red Wings were gods, I couldn't get how it wasn't a big deal anywhere else, but after watching the way this latest debacle's unfolded, it's not hard to see why. After a couple of months I just flat out stopped caring if the NHL ever played again.
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Old 06-09-2005, 08:18 AM   #5
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what does it say about the NHL that this story about an agreement on a cap is the 6th leading story on ESPN.com?
That its one of the slower news days in baseball, basketball and other sports to allow this story to creep up that high on the depth chart.
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Old 06-09-2005, 08:53 AM   #6
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Well, it`s headline news here
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Old 06-09-2005, 11:05 AM   #7
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Well, it`s headline news here


The hockey gods haven't left us yet!
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Old 06-09-2005, 12:11 PM   #8
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I must admit, if they do start up play again I'll probably end up watching again. I forgive so easily.
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Old 06-09-2005, 12:26 PM   #9
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I must admit, if they do start up play again I'll probably end up watching again. I forgive so easily.
Boy I sure hope so. The NHL needs as much sport as possible, especially once they start up again. I fear the backlash of attendence with diehard fans and whatnot.
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Old 06-09-2005, 09:31 PM   #10
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The article I read that this is just a small step...there are quite a few other hurdles.

AND...NHL is only the first Major League sport to go through this. All the other leagues have contracts about to "open" - expect NBA issues!
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Old 06-09-2005, 10:30 PM   #11
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Old 06-12-2005, 10:39 PM   #12
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what does it say about the NHL that this story about an agreement on a cap is the 6th leading story on ESPN.com?
It says the same thing that it always has... people prefer observing NASCAR more than hockey in the States.

Since stock-car racing takes precedence over hockey in most SportsCentre headline orders, I don't think I'll be using the ESPN priority as the measuring stick for what sport to follow.

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