The NHL Lockout

The Lockout in a Nutshell

The 2012 National Hockey League lockout is basically the suspension of the league and games as players and other members of the league are on strike because of new regulations and wages. It was officially instated September 15, 2012. The owners of the league's franchises, Gary Bettman, declared a lockout of the members of the National Hockey League's Player Association after a new agreement could not be reached before their deadline. The lockout is currently delaying the start of the 2012–13 NHL season, which originally was scheduled to begin on October 11, 2012. A total of 327 games have been canceled as a result of the lockout, and the season is currently scheduled to begin on December 1, 2012 as a shortened season with no more than 66 games per team as compared to their original 82 games.

The desires to reduce the players' guaranteed share of 57% of hockey related revenues, introduce term limits on contracts, eliminate salary arbitration, and change free agency rules. The union's initial offers are to mainly increase revenue sharing between owners and fix salary caps. The dispute is the third lockout in the 19 years since Bettman became Commissioner in 1993, following player lockouts in 1994–95 and 2004–05. The owners identified their key issues in their first offer, presented on July 13, 2012. The main issues are as follows:

• Reduce the players' share of hockey-related revenues from 57 percent to 46 percent.

• Set a maximum term of five years on all new players' contracts.

• Eliminate signing bonuses and set a uniform salary for each year of a contract.

• Extend entry level contracts for players entering the league from three years to five.

• Extend qualification for unrestricted free agency from seven years in the league to ten.

The players' union waited a month to offer a counter-proposal as it requested additional financial data from the league. When introduced, the proposal had the potential to save the league as much as $465 million and would feature an enhanced revenue sharing system that would help lower revenue teams; yet, is still being debated. 

I just hope the league pulls through soon and we can get these players back on the ice... without the NHL the world is just missing too much.