NHL Lockout Over

By WISE Web Sports

NHL Lockout Over

January 6, 2013 Updated Jan 6, 2013 at 2:43 PM EDT

NEW YORK -- A tentative agreement has been reached between the NHL and the players' association. NHL commissioner Gary Bettman and NHLPA executive director Donald Fehr stood side by side in the early hours of Sunday morning to announce there was a framework in place for a new collective bargaining agreement. Although the deal still requires language clarification, legal fine-tuning and ratification from both sides, a verbal agreement has been reached on the major points.

The deal still requires majority approval from both the board of governors -- as early as Tuesday -- and the NHLPA membership before it can become official. The tentative agreement is a 10 - year deal with a mutual opt - out clause after eight years and includes contract term limits at seven years (eight years for a team to re - sign its own players).

For the first year, the salary cap is $60 million but teams can spend up to $70.2 million in the transition period, while the floor is $44 million. Sources said the 2013 - 14 salary cap, a very divisive issue, will be $64.3 million, while the floor will remain at $44 million. It is believed the sides are aiming for either a 48 - or 50 - game season depending on how quickly things get done. A 50 - game season would start January 15 th while a 48 - game season would start January 19 th.




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