NHL meeting on Friday creates confusion

More confusion was reported in the battle of NHL hockey on Friday. No one really knows what will happen next. The fourth day of negotiation is giving a negative tone. Fehr said at Friday night that many woks are pending. He thought that they are much closer on the deal structure.
It was not a usual day for both the sides. Fehr admitted that after a two-hour long afternoon session it is broken up that it will be possible for the two sides may be at the be back at the table this Saturday.
They waiting to listen from the players association, in terms of when they’ll be ready for them to get back together for one more time, the NHL Commissioner Gary Bettman admitted before Friday evening.
The matter which hasn’t changed is the fight for the owners’ wish to decrease the players to 50% starting the next season.
A person with huge knowledge, who spoke with USA TODAY Sports based on anonymity because the details for the negotiations are very secret, confirmed that the owners demanded 50-50 split to start as soon as possible, but their provision allowed $149 million is to be paid to the players during the first season and $62 million during the second season. Both the payments may differ by one year.
A fall of a percentage point is as costly as about $33 million. Dropping from 57% to 50% indicates that players will receive $231 million less compared to the last season, and that excludes anticipated growth. For the first couple of years, players will receive $462 million less,
Players are offered for total value protection for those players who signed the contracts, and have opposed to the demand of the owner for some reduction in the individual contract.
They are requesting for $1.883 billion on which 1.75% interest will be compounded. The extra interest for the covering of the players who is still in need for a sign in the next season.
Fehr said that that they will look at the type of the agreement based on their growth and they were close together in the same arena.
In the Friday morning both the sides discussed about pensions, and now they logged negotiations over the last four days to reach an agreement which will allow the 2012-13 NHL hockey season to start. It will start on Oct. 11, and the league was canceled for the first seven weeks.

 

 

 

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