At around 5am in New York City, the NHL and NHLPA reached a tenative CBA agreement. The lockout is officially over folks! Gary Bettman and Donald Fehr spoke to the media this morning announcing the deal. The framework for the season will be a 48-50 game season. Training camps will begin by the end of the week, and the official schedule will be set in the next day or so.
The new CBA is believed to be a 10 year agreement, with an opt out option at eight years. Player's contract limits are now a 7 year contract, or 8 years if the team is re-signing. Revenue sharing is set at $200 million. There is also a contract buyout which can be used next season, not this upcoming season. The maximum number of buyouts is 2.
Special thanks to the federal mediation of Scot Beckenbaugh. He was said to be the hero of all this. The two sides met for 16 hours yesterday/today, and in the end it was all resolved.
MUCH more to come, but for now...are you ready for some hockey?