While the details of the new Collective Bargaining Agreement are not being released yet, there are a few things that we do know. The work stoppage lasted 113 days. An estimated 625 games were lost. This includes the Winter Classic, the Winter Classic Alumni Game, and the All Star Game. The players lost about 40% of their annual salaries. The owners lost about $8-$10 a day.
There is talk of what some of the new terms are. They say that if they get this thing finalized on Wednesday, they can get camp going soon and games should start January 15th or 19th. The owners will get a 50%/50% split of the hockey related revenue. This is a 7% decrease for the players from the previous agreement. Last year HRR was at an all time $3.3 million. Based on last year’s HRR, the players would lose $231 million a year.
The NHL is the lowest of the major sports. Last season the NFL had $9 billion, MLB had $7.5 billion, and the NBA had $5 billion.
This was a hattrick of lockouts for Gary Bettman. The first lockout under his watch was during the 1994-1995 season, where they played just 48 games. The entire 2004-2005 season was lost. This brings the total of lost games under Gary Bettman to a combined estimate of 2,178.
According to the Huffington Post, other details of the new CBA are:
Over the next 3 years, the players will receive $300 million in transition payments.
For the first time ever the players have a defined benefit pension plan.
There will bea $70.2 million salary cap before prorating to adjust for the shortened season, then the cap will drop to $64.3 million in 2013-14 – the same amount as 2011-12. There will be a salary floor of $44 million in those years.
Free Agents will be limited to a 7 year contract, or 8 if re-signing with their current teams.
Salaries within a contract may not vary by more than 35 percent year to year, and the lowest year must be at least 50 percent of the highest year.
No changes to Free Agency eligibility and salary arbitration.
The threshold for teams to release players in salary arbitration will increase from $1.75 million to $3 million.
Each team may use two buyouts to terminate contracts before the 2013-14 or 2014-15 seasons for two-thirds of the remaining guaranteed income. The buyout will be included in the players’ revenue share but not the salary cap.
The minimum salary will remain at $525,000 this season and will rise to $750,000 by 2021-12.
Either side may terminate the deal after the 2019-20 season.
Revenue sharing will increase to $200 million annually and rise with revenue.
An industry growth fund of $60 million will be funded by the sides over three years and replenished as need.
Participation of NHL and its players in the 2014 Sochi Olympics will be determined later in discussions also involving the International Olympic Committee and the International Ice Hockey Federation.
When the details of the new agreement are set in stone and officially release, I will update.