Some details on their plan:
Re-start with 20 teams, and then as financial stability is gained, start to slowly add more teams.
16 make the playoffs.
60 game schedule beginning in early November ending in late march/early April.
Rosters are 20 players, only 17 can dress (9-6-2)
Tag-up off sides
No-touch icing
No fighting
4-on-4 OT, followed bya shootout
Nets made bigger
Goalie rule similar to AHL
Mandatory helmets and visors
Restrictions on goalie equipment
Enhanced marketing
Olympics will be a staple
3 players and a coach will wear mics for every game
TV will have access to lockerrooms
Tieried luxury tax system, with the money going into league marketing initiatives
The 20 teams
Montreal
Boston
Toronto
Detroit
Hartford
Philly
New York
New Jersey
Atlanta
Miami
Dallas
St. Louis
Chicago
Minnesota
Denver
Los Angeles
Las Vegas
Vancouver
Edmonton
Calgary
Plans to expand to the following cities: Phoenix, Seattle, Kansas City, Portland, Ottawa, Pittsburgh, Baltimore/Washington and Columbus.
More details at espn.com