Nov 7, 2012, 10:56 AM EST
CBA negotiations between the NHL and NHLPA are expected to resume sometime later this afternoon in New York, with the focus of the discussions reportedly on the so-called “make whole” provision.
The “make whole” provision was first introduced in mid-October when the league made its 50-50 offer to the union. It was intended to satisfy the players’ demands that all current contracts be paid out in full under a new CBA.
The League proposes to make Players “whole” for the absolute reduction in Players’ Share dollars (when compared to 2011/12) that is attributable to the economic terms of the new CBA (the “Share Reduction”). Using an assumed year-over-year growth rate of 5% for League-wide revenues, the new CBA could result in shortfalls from the current level of Players’ Share dollars ($1.883 Billion in 2011/12) of up to $149 million in Year 1 and up to $62 million in Year 2, for which Players will be “made whole.” (By Year 3 of the new CBA, Players’ Share dollars should exceed the current level ($1.883 Billion for 2011/12) and no “make whole” will be required.) Any such “shortfalls” in Years 1 and 2 of the new CBA will be computed as a percentage reduction off of the Player’s stated contractual compensation, and will be repaid to the Player as a Deferred Compensation benefit spread over the remaining future years of the Player’s SPC (or if he has no remaining years, in the year following the expiration of his SPC). Player reimbursement for the Share Reduction will be accrued and paid for by the League, and will be chargeable against Players’ Share amounts in future years as Preliminary Benefits. The objective would be to honor all existing SPCs by restoring their “value” on the basis of the now existing level of Players’ Share dollars.
The problem the players had with the proposal is that future reimbursement was to be chargeable against the players’ share of revenue, meaning players would essentially be paying players to make it work.
Last week, however, it was reported that the league was willing to absorb some or all of the reimbursement. Which brings us to today, when the NHL will presumably explain its plan to the NHLPA.
The Globe and Mail’s James Mirtle has a good breakdown of the “make whole” provision, if you’re a big fan of math.
Feb 1, 2015, 1:41 AM EST
Got a little help, too. Quick whistle on Toews chances.
Feb 1, 2015, 12:55 AM EST
Stopped 31 of 32 shots for the win.
Feb 1, 2015, 12:07 AM EST
No call. Got a little testy out there after that hit.
Jan 31, 2015, 11:17 PM EST
Boston maintaining their hold on a Wild Card spot.
Jan 31, 2015, 10:23 PM EST
Maybe February will be better?
Jan 31, 2015, 9:44 PM EST
Battle of Alberta isn’t what it used to be.
Jan 31, 2015, 8:57 PM EST
Scary moment, but he has stayed in the game.
Jan 31, 2015, 8:27 PM EST
Goal No. 715 of his career.
Jan 31, 2015, 8:14 PM EST
Short-handed, too! *Thumbs up*
Jan 31, 2015, 7:43 PM EST
Starting Sunday, these teams will play each other three times in 16 days.
Jan 31, 2015, 7:16 PM EST
Obviously not smart.
Jan 31, 2015, 6:46 PM EST
Allowed five goals on 20 shots.
Jan 31, 2015, 6:19 PM EST
Two losses in a row for the Islanders.
Jan 31, 2015, 5:53 PM EST
Was put on waivers, cleared, and sent to the minors this week.
Jan 31, 2015, 5:22 PM EST
Took part in team skate on Saturday.
Jan 31, 2015, 4:47 PM EST
Detroit is forcing itself into the Stanley Cup conversation.
Jan 31, 2015, 4:08 PM EST
Montreal has put pressure on Tampa Bay in the battle for the Eastern Conference lead.
Jan 31, 2015, 2:48 PM EST
He has a degenerative back injury that might lead to career-ending surgery.
Jan 31, 2015, 1:56 PM EST
He gave up five goals against them on Jan. 10.
Jan 31, 2015, 12:57 PM EST
Meanwhile Philadelphia will try to win its fourth straight game.
- Leafs scoring slump hits historical low 11
- Video: Rangers’ Lundqvist takes puck to the neck 3
- Zamboni driver arrested for DUI, allegedly cleaned ice surface while drunk 13
- Mike Richards trying to make the best of being sent to the AHL 9
- Price leads Habs past Caps with second straight shutout 8
- Report: Rob Blake would be Brendan Shanahan’s first choice to replace Dave Nonis 5
- Bettman would be ‘kicking and screaming’ before NHL jerseys have ads 27
- Comparing the records of all 30 teams in the last two months 61
- Lightning ride Paquette’s first hat trick to Atlantic lead 8
- Price wins goalie duel vs. Lundqvist as Habs edge Rangers 4