NHL and Players Association Reach Tentative Agreement, Lockout Is Over
Photo courtesy of Carlos Osorio – Toronto Star
By Todd Cordell (@ToddCordell)
The NHL lockout is finally over. After a 16-hour bargaining session between the NHL and NHLPA the two sides have finally reached an agreement.
Below are some of the details from the new collective bargaining agreement (thanks to TSN and Sportsnet for the information).
- The year 2 salary cap ceiling is $64.3M.
- Cap floor will be $44M.
- Maximum contract length for free agents signing on a new team is seven years.
- Maximum contract length for players re-signing with their current team is eight years.
- The collective bargaining agreement is 10 years in length with an opt-out after the eighth year.
- The schedule will consist of conference games only and the season could start as early as January 15th.
- Player contract variance can change up to 35% per season but the lowest variance in salary must be 50% or higher of the highest salary a player makes in one season. For example: if a player makes $5M on year in his contract, the least he can make in another season is $2.5M (50%).
- There will be two amnesty buy outs per team before the 2013-14 season. The money won’t count against the cap but will count on players share.