NHL CBA Talks: Players' Proposal Would Trim Salaries, Add Luxury Tax, Increase Revenue Sharing

NHLPA chief Donald Fehr announced details of his group's CBA proposal Tuesday, saying that the players are ready to give up part of their share of hockey-related revenue in order to get to work on time this season.

It's unclear exactly how much of the current 57 percent share of HRR the players would be willing to give back to the owners in the proposed three-year agreement, but Fehr told the assembled media in Toronto that reduced compensation could reach as much as $455 million if league revenues continue to grow in the same way they have since the 2005 CBA was established. The proposal would allow for an optional fourth year at the end of the term.

Fehr said that up to $250 million could be entered into revenue sharing under the PA's proposal. The league's current system is quite benign, with various limits on which teams are eligible for revenue sharing. Only 10 teams were eligible a year ago while 18, according to Forbes, operated at a loss. Full details of the NHLPA's revenue sharing ideas were not initially available.

While a hard salary cap would remain, the Canadian Press reports that the PA's proposal calls for a luxury tax that would allow big-spending teams to exceed the cap by a certain number. If the luxury tax were to work like in other leagues, the money spent over the set limit would be distributed amongst teams that do not spend over the limit.

Player contracts would stay largely the same under the proposal. The NHL had proposed changes to free agency, contract term, entry-level deal structure and salary arbitration. The NHLPA's proposal would leave those virtually untouched, according to Fehr.

The current CBA expires on Sept. 15 and Gary Bettman has said that the league will lockout the players without a new deal by that date. The league is expected to give their response to the NHLPA's proposal on Wednesday.

For all the news surrounding the NHL's collective bargaining agreement and the ongoing quest to replace it, stick with this StoryStream.

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