The NHL has gone public with its 10-point proposal aimed at ending the impasse with the locked-out NHL Players' Association.
In a statement posted to its website Wednesday morning, the league said it had not intended to publicly reveal the documents it handed to the Players' Association on Tuesday, but felt compelled by misinformation that's been circulating ever since.
"Not surprisingly, there have been widespread reports attempting to describe and characterize the terms of the offer that understandably are incomplete. As a result, we believe that full public disclosure at this stage is both necessary and appropriate."
The first of the two documents posted online, entitled "NHL proposal to save 82-game season," lists a total of 10 points starting at its six-year term, with an option for a seventh.
The proposal calls for the widely reported 50-50 split, where revenue would be equally split between the players and owners.
Under the last deal, players were taking 57 per cent of the approximately $3.3-billion league-wide revenues.
In an accompanying document that clarifies its latest proposal, the league argues that players have to give up some of their league revenue because, "it costs clubs more money now to operate and to generate revenues than it used to."
Bringing the split in line with arrangements at the NBA and NFL, "will enable the NHL to protect and promote the long-term future of the game, the financial health and stability of the clubs and the long-term earning capacity of the players."
The offer also promises no "rollback" of current contracts, assuring players they'll be paid everything they've been promised to date, "subject to the operation of the escrow mechanism in the same manner as it worked under the expired CBA."
The offer also calls for a revamped approach to splitting revenue among clubs for at least the next two years, with an estimated increase of 33 per cent over last year.
"At least 50 per cent of the revenue-sharing pool will be funded by the Top 10 revenue-grossing teams," the league explains. "The remainder of the revenue-sharing pool will be funded from league- and playoff-generated revenues.鈥�
All previously ineligible teams would be able to access revenue-sharing cash, as well, excepting only the league's Top 10 money-makers.
Key changes outlined in the proposal include:
- a limit on year-to-year salary changes, capped at five per cent of its first year value;
- the elimination of re-entry waivers for players with NHL contracts who are competing in other leagues;
- new that will see newly drafted European players subject to a four-year exclusive negotiating deal with their club, after which they can enter the league as free agents.
The NHLPA is expected to respond to the proposal when its representatives sit down with the league again on Thursday.
In its announcement Tuesday, the league insisted a deal would have to be signed by Oct. 25, in order for a condensed 82-game schedule to get underway one week later.
