Has anybody sat down and really thought about how a hard cap would be implemented? Currently only one league (the NFL) has a hard salary cap. A very big part of the reason it works in the NFL is because contracts aren't guaranteed and teams can cut players/move them around to squeeze under the cap. Since the NHL insists that contracts will continue to be guaranteed, I see teams having a very hard time working within the confines of this cap. What I think you will see is a lot of short contracts (so that teams can have expiring contracts/cap space every year to sign/re-sign players) combined with a lot of contract buyouts (this is assuming that buyouts will not count against the cap, which they actually do in the NBA and NFL). The NFL also has no arbitration system. An arbitration system will wreak havoc on a hard cap system. As much as I dislike the PA and think their offer was a joke, I just can't see how the owner's system would work either, with a small gap between the floor and ceiling (only 10M), I just think it would end up being a nightmare.