Sporting Fools
Sporting Fools
Sporting Fools
Sporting Fools
Wednesday, June 08, 2005
NHL, NHLPA Agree on Salary-Cap Structure...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]