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NHL Players Meet in Toronto to Ratify Deal

By 250 News

The NHL Players Association gets together in Toronto today and tomorrow to look over the tentative deal reached with the owners.  The players are expected to complete ratification by  the end of the day  tomorrow.

Tomorrow, the Owners huddle in New York to  ratifiy the deal.
  
Here is what the tentative 6 year agreement is rumoured to contain:

- after the fourth year, the NHLPA  has the right to re-open negotiations

- a 24 % salary rollback for any NHL player who has time left on an existing contract.

-a team-by-team salary cap  with all player benefits insurance and so one, the cap will range between $21 million to $39  million US in the first year

- that cap will  fluctuate as revenues go up or down during each year of the contract 

- player costs for the entire league can't exceed 54 per cent of defined hockey-related revenue. 

there are also reports the deal allows for more open free agency, 

a salary cap for rookies ($850,000 US)

and a promise of NHL participation in the 2006 Olympics in Torino Italy

Both sides are expected to ratify the agreement.
 



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