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NHL owners ratify new collective bargaining agreement

  • The National Hockey League (NHL) ratified a new Collective Bargaining Agreement on Wednesday.

    The Board of Governors voted its approval by a 30-0 vote.

    The last step towards an official start to the 2012-13 season will be the (National Hockey League Players’ Association’s (NHLPA) ratification of the deal.

    According to media reports, the players' union vote will vote to ratify the collective bargaining agreement on Friday and Saturday.

    The new agreement will last for 10 years, with an opt-out clause in eight.

    The players' share of hockey-related income will reportedly drop from 57 percent to a 50-50 split.

    The salary cap for the upcoming season is also reported to be $70.2 million and will then drop to $64.3 million for the 2013-14 season.

    All clubs will be required to have a minimum payroll of $44 million

    In addition, a regular- season schedule of at least 48 games must begin by January 19.

    The existing 2012-13 NHL schedule had already been canceled up until January 14.

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