1. Term:
10-year Agreement.
2. Applicable Players' Share:
For each of the proceeding ten (10) years of the CBA, the Players' Share shall be Fifty (50) percent of Actual HRR.
3. Payroll Range:
Payroll Range will be computed using existing methodology. For the 2012/13 season, the Payroll Range will be computed assuming HRR will remain flat year-over-year (2011/12 to 2012/13) at $3.303 Billion (assuming Preliminary Benefits of $95 Million).
2012/13 Payroll Range
Lower Limit = $43.9 Million
Midpoint = $51.9 Million
Upper Limit = $59.9 Million
Appropriate "Transition Rules" to allow Clubs to exceed Upper Limit for the 2012/13 season only (but in no event will Club's Averaged Club Salary be permitted to exceed the pre-CBA Upper Limit of $70.2 Million).
4. Cap Accounting:
Payroll Lower Limit must be satisfied without performance bonuses.
All years of existing SPCs will be accounted for and charged against a team's Cap (at full AAV) regardless of whether or where the Player is playing.
Money paid to Players on NHL SPCs (one-ways and two-ways) in another professional league will not be counted against the Players' Share, but all dollars paid in excess of $105,000 will be counted against the NHL Club's Averaged Club Salary for the period during which such Player is being paid under his SPC while playing in another professional league.
5. System Changes:
Entry Level System commitment will be limited to two (2) years (covering two full seasons) for all Players who sign their first SPC between the ages of 18 and 24 (i.e., where the first year of the SPC only covers a partial season, SPC must be for three (3) years).
Maintenance of existing Salary Arbitration System subject to: (i) total mutuality of rights with regard to election as between Player and Club, and (ii) eligibility for election moved to five years of professional experience (from the current four years).
Group 3 UFA eligibility for Players who are 27 or who have eight (8) Accrued Seasons (continues to allow for early UFA eligibility -- age 26).
Maximum contract length of five (5) years.
Limit on year-to-year salary variability on multi-year SPCs -- i.e., maximum increase or decrease in total compensation (salary and bonuses) year-over-year limited to 10% of the value of the first year of the contract. (For example, if a Player earns $10 million in total compensation in Year 1 of his SPC, his compensation (salary and bonuses) cannot increase or decrease by more than $1,000,000 in any subsequent year of his SPC.)
Re-Entry waivers will be eliminated, consistent with the Cap Accounting proposal relating to the treatment of Players on NHL SPCs playing in another professional league.
NHL Clubs who draft European Players obtain four (4) years of exclusive negotiating rights following selection in the Draft. If the four-year period expires, Player will be eligible to enter the League as a Free Agent and will not be subject to re-entering the Draft.
6. Revenue Sharing:
NHL commits to Revenue Sharing Pool of $200 million for 2012/13 season (based on assumption of $3.303 Billion in actual HRR). Amount will be adjusted upward or downward in proportion to Actual HRR results for 2012/13. Revenue Sharing Pools in future years will be calculated proportionately.
At least one-half of the total Revenue Sharing Pool (50%) will be raised from the Top 10 Revenue Grossing Clubs in a manner to be determined by the NHL.
The distribution of the Revenue Sharing Pool will be determined on an annual basis by a Revenue Sharing Committee on which the NHLPA will have representation and input.
For each of the first two years of the CBA, no Club will receive less in total Revenue Sharing than it received in 2011/12.
7. Supplemental and Commissioner Discipline:
Introduction of additional procedural safeguards, including ultimate appeal right to a "neutral" third-party arbitrator with a "clearly erroneous" standard of review.
8. No "Rollback":
The NHL is not proposing that current SPCs be reduced, re-written or rolled back. Instead, the NHL's proposal retains all current Players' SPCs at their current face value for the duration of their terms.