TORONTO (Ticker) - If only the NHL and the Players Association had worked this hard last summer.
The league and the NHLPA on Friday completed five days of meetings in an attempt to reach a new collective bargaining agreement.
With the expiration of the last CBA rapidly approaching, the two sides showed little urgency toward working out a new deal in order to save the 2004-05 season. But with that campaign wiped out due to the labor dispute, the NHL and the union continue to hold frequent sessions in an attempt to prevent another disastrous situation. While no specifics were disclosed regarding this week's gatherings, guarded optimism was displayed by both sides, who agreed to continue discussions on Monday.
"The meetings this week were good and we continue to make progress," NHL executive vice president Bill Daly said in a statement. "Obviously, we know that time is of the essence in working to conclude a new CBA, and both sides are proceeding on that basis. We will resume negotiations in New York on Monday."
"The two parties engaged in lengthy negotiations every day this week, and while progress has been made in a number of areas, there remains a considerable amount of work to be completed in order to reach an agreement," union senior director Ted Saskin said. "We will be continuing our meetings with the league on Monday in New York."
It recently was reported the NHL and the NHLPA had reached an agreement on a formula for a salary-cap system based on team-by-team revenue. However, it still is unclear as to how close the two sides are to announcing a new CBA.
Citing unnamed sources, the Globe and Mail of Toronto reported last week the sides agreed to a team-by-team salary floor and cap based on a percentage of each team's revenue. While the actual percentage is not known, it is expected the cap will range from $34-36 million, with the floor from $22-24 million.
The $36 million cap, however, is not solely meant for players' salaries. Also included would be benefits as well as signing and performance bonuses, according to the Globe and Mail.
A dollar-for-dollar luxury tax also will kick in at the midway point, allowing richer teams to spend more but preventing large gaps in payrolls among all clubs. It also is believed the players' offer of a 34 percent salary rollback would be part of the new deal.
On February 16, commissioner Gary Bettman announced the cancellation of the 2004-05 season, making the NHL the first major North American sports league to have an entire season wiped out due to a labor dispute.
After convening with the NHL's Board of Governors in April, Bettman announced the league would not resume play until a CBA was in place, erasing the belief replacement players would be used for the 2005-06 campaign.
In March, the league officially canceled the 2005 draft, which was slated to take place in Ottawa in June. Citing unnamed sources, TSN of Canada is reporting a tentative draft date of August 6, provided a CBA has been reached.
The league and the NHLPA on Friday completed five days of meetings in an attempt to reach a new collective bargaining agreement.
With the expiration of the last CBA rapidly approaching, the two sides showed little urgency toward working out a new deal in order to save the 2004-05 season. But with that campaign wiped out due to the labor dispute, the NHL and the union continue to hold frequent sessions in an attempt to prevent another disastrous situation. While no specifics were disclosed regarding this week's gatherings, guarded optimism was displayed by both sides, who agreed to continue discussions on Monday.
"The meetings this week were good and we continue to make progress," NHL executive vice president Bill Daly said in a statement. "Obviously, we know that time is of the essence in working to conclude a new CBA, and both sides are proceeding on that basis. We will resume negotiations in New York on Monday."
"The two parties engaged in lengthy negotiations every day this week, and while progress has been made in a number of areas, there remains a considerable amount of work to be completed in order to reach an agreement," union senior director Ted Saskin said. "We will be continuing our meetings with the league on Monday in New York."
It recently was reported the NHL and the NHLPA had reached an agreement on a formula for a salary-cap system based on team-by-team revenue. However, it still is unclear as to how close the two sides are to announcing a new CBA.
Citing unnamed sources, the Globe and Mail of Toronto reported last week the sides agreed to a team-by-team salary floor and cap based on a percentage of each team's revenue. While the actual percentage is not known, it is expected the cap will range from $34-36 million, with the floor from $22-24 million.
The $36 million cap, however, is not solely meant for players' salaries. Also included would be benefits as well as signing and performance bonuses, according to the Globe and Mail.
A dollar-for-dollar luxury tax also will kick in at the midway point, allowing richer teams to spend more but preventing large gaps in payrolls among all clubs. It also is believed the players' offer of a 34 percent salary rollback would be part of the new deal.
On February 16, commissioner Gary Bettman announced the cancellation of the 2004-05 season, making the NHL the first major North American sports league to have an entire season wiped out due to a labor dispute.
After convening with the NHL's Board of Governors in April, Bettman announced the league would not resume play until a CBA was in place, erasing the belief replacement players would be used for the 2005-06 campaign.
In March, the league officially canceled the 2005 draft, which was slated to take place in Ottawa in June. Citing unnamed sources, TSN of Canada is reporting a tentative draft date of August 6, provided a CBA has been reached.
