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Latest escrow payments ease pain of lost checks

Oct 30, 2012, 9:08 PM EDT

Brad Richards #19 of the New York Rangers controls the puck in Game Four of the Eastern Conference Final against the New Jersey Devils during the 2012 NHL Stanley Cup Playoffs at the Prudential Center on May 21, 2012 in Newark, New Jersey.
(May 20, 2012 - Source: Bruce Bennett/Getty Images North America) Getty Images

One hopeful fan theory is that the CBA discussions will heat up once players start losing paychecks, but escrow earnings might ease some of the tension.

Players missed the second checks from the would-be 2012-13 season on Monday, but they got a healthy 7.98 percent of last year’s earnings – plus interest – on Tuesday, according to Chris Johnston of the Canadian Press.

Johnston maps out what this means financially for a given player, so we don’t have to all that stuffy math:

The escrow payments amount to about $80,000 for every million dollars a player earned — before deductions. For example, New York Rangers forward Brad Richards grossed approximately $960,000 after being the league’s highest-paid player last season.

That could mean a nice bit of relief for players (even if that was merely money taken from last season’s checks), whether they’re making a bit of cash overseas or they’re on “kid duty” like Joe Corvo.

It certainly doesn’t ease overall worries during a week in which the 2013 Winter Classic is reportedly in danger of being canceled, though

Just like Monday night, there’s nothing new to report even if the two sides continue to speak, according to Johnston and others.

Related: Players must ask themselves: is it worth it?

  1. sportsfan69 - Oct 30, 2012 at 10:04 PM

    Guys,

    Please put your emotions and pride for your own financial well being, along with the betterment of the game WE all love so dearly.

  2. sportsfan69 - Oct 30, 2012 at 10:12 PM

    Put your emotions and pride aside for your financial being. I’m sorry for the previous comments mistake. This whole thing needs to go away. Nobody is the winner in this lockout. Especially the local vendors who’s lives depend on the game of hockey that we all dearly love so much. I feel a sense lose, that I can’t explain it. Make a deal, otherwise you will forever regret it.

    • blomfeld - Oct 30, 2012 at 10:48 PM

      Sportsfan69 and others …

      STAND DOWN FROM YOUR FEARS … AGREEMENT IS ABOUT TO TAKE CENTER STAGE !

      • valoisvipers - Oct 31, 2012 at 10:12 AM

        Another fine video and I thank you for that Blomfeld and I am sure ID4Joey will approve as well. As for your post, today is the day to make it happen if there will be a Winter Classic however I am still leaning towards Early December when the season will be half gone as the point of no return. If they have not signed by then the season will be cancelled. I do hope that your wisdom prevails and the deal is made soon.Friends I can tell you that Blomfeld might not always be right but he is seldom wrong.

  3. illadelphiasphinest - Oct 31, 2012 at 5:06 AM

    Blah blah blah….The players are greedy.
    Blah blah blah the owners are even more greedy.

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