Sporting Fools
Sporting Fools
Sporting Fools

Sporting Fools

The frequent and occasional humorous musings behind two of the World's greatest underappreciated sports minds.

Wednesday, June 08, 2005

NHL, NHLPA Agree on Salary-Cap Structure...

Finally making some headway in the longest, more unnecessary lockout ever.
According to the Globe's league and player sources, a salary floor and cap will be based on a percentage of each NHL team's revenue. The paper adds that in the first year - based on revenue projections by both sides - the salary cap will range from $34 million to $36 million US, with the floor from $22 million to $24 million US.

The salary-cap issue was seen as the biggest hurdle in talks for a new collective bargaining agreement.

The Globe also reports that the formula calls for a dollar-for-dollar luxury tax to kick in at the halfway mark between the floor and the cap. If the floor of the lowest team is $22 million US and the cap on the highest team is $36 million US, then the 'tax level' will be $29 million US.

NHL Sides Agree on Cap Formula [TSN/G&M]

Posted by TPrincess 5:34 PM ||
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