The NHL is BEGGING the PA to make a counter proposal, just BEGGING them. I am pretty sure one will be coming tonight, as the FRAMEWORK for this agreement can be reached. This was GUARANTEED going to be rejected by the players, and the NHL new it. However, it was still a VERY fruitful offer, and to me tells me their WILL be a season. 3 things will be modified by the PA in a counter offer, IMHO.
#1 The triggers will be negotiated upwards (to say 58-60% of league revenue, 5 teams could be above 45 million (given as a % of league revenue), disparity between the top 5 teams and bottom 5 teams of no more than 40% (possibly done by throwing out the highest and lowest teams). In general, a loosening of the triggers.
#2 The NHLPA will toughen their Dec. offer, as it would not have worked (and they know it). Expect the PA to tighten the rookie cap and bonus structure, and to either reduce the QO amount, OR implement the Arbitration structure from the owners last offer. The PA, with the triggers, would now have a much greater interest in ensuring their deal works, and as such, they would make it so.
#3 The NHLPA will change the terms of the last NHL offer. MAYBE the cap would go up 1%, but expect things like QO to be raised under the cap. They will ensure, that if a cap is triggered, that the NHLPA membership has greater mobility at a younger age than in the last NHL proposal.
Finally, I would be SHOCKED if the PA doesn't come back with a very reasonable counter to this offer from the NHL. The framework, I believe, is now in palce, so its all about haggling over money now, which means the end is in sight.