http://www.latimes.com/sports/la-sp-nhl7jul07,0,742506.story?coll=la-home-sports "The NHL and the players' association have agreed in principle on a new collective bargaining agreement that will feature a hard salary cap linked to 54% of league revenue, a 24% rollback of existing contracts and qualifying offers, and a provision that will limit the salary of any single player to 20% of the team cap figure in any year, sources familiar with the labor negotiations said Wednesday. The agreement, which is expected to be announced next week, also includes an NBA-style escrow provision under which 15% of each player's paycheck will go into an escrow account until revenue is calculated after each season. If league-wide spending on salaries exceeds 54% of revenue, the difference between the salaries paid and the negotiated percentage will be paid to teams from the escrow account. If teams spend less than 54%, the escrow money will revert to players" -No All-Star game in 2006 because of the Olympics - Each team will have an equal shot at Crosby. each team gets 1 ball - The CBA will be presented to the 10 man executive team in NY and BOG will ratify it late next week - Players will vote at a meeting. if they approve, a 10-day period will begin for teams to sign players they drafted in 2003 and other players on their reserve lists. The season probably would start in early to mid-October. - No Luxury Tax. The top 10 revenue teams will share a percentage with the small market teams. - Baseball style arbitration ( both sides present a number) arbitratior pick the number. - Free Agency goes from 31 for the first year of the CBA, 30 for the second year and 28 for the remaining 4 years - performance bonuses will be based off specific things for forwards, defensemen and goalies. such as points, ice time and plus minus for forwards. - rookies have to sign for 4 years at a max of $850 K NHL and NHLPA are still bickering over 04-05 contracts according to this report but I dont understand how if they have agreed in principle.