January 10, 2013

NHL achieves ‘Flying V’ with new agreement

Filed under: National Hockey League — Giorgio Varlaro @ 11:20 pm

Supplied via Google Images

The business of sport, forgotten within the scope of an athletic event, has seen its mighty reign end with the approval of a new NHL Collective Bargaining Agreement. The 10-year deal, which ended a 113-day lockout, completed negotiations between players and owners when it relates to player salaries, revenue sharing and retirement incentives.

Presuming players ratify the deal by Saturday, January 12, 2013, training camp would open up the following day (Sunday) and the season would begin January 19th.

Both sides came to an initial agreement of a 50-50 split between hockey-related revenue, down from 57 percent in the last deal. Added to this, players will receive new contract rights, giving them the ability to sign an eight-year contract if they choose to stay with the team they currently play for. A new pension plan was also comprised in the new deal.

Undecided in the new agreement were league realignment and participation in the 2014 Olympics (in Sochi, Russia).

NHL Commissioner Gary Bettman, who was also a part of the last lockout in 2004, did apologize for the amount of time which occurred for an agreement to be made, but reiterated that the stability that the NHLPA has shown under Donald Fehr will allow owners and the NHLPA to have an easier time working together moving forward.

Stability, a term which has not been associated with the NHL in some time, would benefit the league as a whole. Lockouts, on the other hand, are something fans aren’t going to have to deal with for at least another decade. Including the NFL, NBA and NHL, 411 days of labor negotiations incurred from 2011-2013 while owners and players were vying for a new collective bargaining agreement.



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