Earlier on Thursday, NHL Commisioner Gary Bettman talked about the significant gap that still exists in collective bargaining negotiations between owners and the National Hockey League Players' Association; this news speaks to that, as the announcement marks the first shutdown of the Traverse City event in its 15-year history. The Red Wings plan to bring the tournament back and pick up where they left off in 2013, according to the team's website.
In addition to Wings prospects, young players from the St. Louis Blues, Buffalo Sabres, Carolina Hurricanes, Columbus Blue Jackets, Dallas Stars, Minnesota Wild and New York Rangers would also reportedly have been featured in the tournament.
The NHL and NHLPA have 30 days to before the current collective bargaining agreement expires. If the two sides don't get a deal done before then, the CBA will expire and a lockout will commence. That deadline is Sept. 15 -- the same day the Traverse City tournament was supposed to take place.
For all the news surrounding the NHL's collective bargaining agreement and the ongoing quest to replace it, stick with this StoryStream.