The NHL and NHL Players Association need to come to terms on a new collective bargaining agreement by Jan. 11 or the entire 2012-13 season will be canceled, according to a report by Renaud Lavoie of RDS on Friday afternoon.
NHL commissioner Gary Bettman had previously stated that the league would need to play no less than 48 games this season. With all contests currently canceled through Jan. 14, many have assumed that the next set of cancelations would carry out through the remainder of the schedule, wiping out the year.
On Thursday evening, the NHL submitted a new proposal to the NHLPA, which reportedly was a detailed document resembling a full CBA.
The owners reportedly proposed a 10-year CBA with a mutual opt-out after eight years, a 50-50 split of hockey-related revenue, no contractual rollbacks of player salaries, max-limits on free agent contracts, one compliance buyout prior to the 2013-14 season and $300 million towards the "Make Whole" provision.
According to John Shannon of Sportsnet, the proposal mentioned that Jan. 19 was the last day to play a 48-game schedule.