Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

NHL Makes Proposal Aimed at Closing Financial Gulf With Players

Aug. 29 (Bloomberg) -- The National Hockey League made a fresh proposal yesterday intended to bridge the financial gulf between team owners and players as they seek to reach agreement on a new labor contract, Commissioner Gary Bettman said.

“We need to get on the same page on the economics,” Bettman said on the league’s website. “We believe we’ve made a significant, meaningful step.”

Players receive 57 percent of hockey-related revenue under the labor agreement that expires Sept. 15. The NHL’s proposal on July 13 called for the share to be reduced to 46 percent. On Aug. 14, the union offered to cut its share by between $465 million and $800 million during the next three seasons, depending on league growth.

Bettman declined to offer specifics about the latest proposal, which is “different in some respects” from the previous offer, said Donald Fehr, executive director of the NHL Players’ Association.

“I don’t want to characterize it at this stage before we’ve had an opportunity to really go through it and make sure we understand it and come up what we think is an appropriate response,” Fehr said.

The union will discuss the plan before talks continue today at the league’s office in New York, Fehr said.

To contact the reporter on this story: Nancy Kercheval in Washington at nkercheval@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.