tantalum said:
Why would it be a financial risk? after all the last players offer is apparently easily affordable according to the PA and the PA supporters
Essentially any court is going to choose between the two sides final offer. By offering the cap the players assured themselves of a cap in the new CBA whenever it comes into existence. If the NHL still goes to impasse it is because they truly believe that the last offer from the PA was not good enough. They'll have all the i's dotted and t's crossed if they go that route.
The financial risk according to former NLRB member and management labour lawyer, John Raudabaugh who was on the Fan 590 and Sportsnet a short time back, is that if the NLRB does not agree there was an impasse in fact or the NHL commited unfair labour practise(s)he CBA is gone and the owners have been operating illegally. That means that they are open to what he described as "severe financial penalties".
Players under contract sue for the value of their contracts, players not under contract sue for lost opportunity costs (probably a damage calculation by the court similar to an salary arbitration hearing) and there is a possibility that antitrust law could come into play since it may be determined to be outside the restrictions of Brown v NFL. In the case of antitrust law in the US it is treble damage awards if you win an antitrust suit. At the very least the replacement players who are not union memebers would have clear shot at using antiottrust law and it could be available to other players who are union members in this limited situation.
The financial downside is huge if the NHL is wrong.
In the case of the NFL antitrust suits it cost the NFL $193 million to settle the suits and that was in 1993 when salaries were significantly lower.
When MLB lost their replacement league try, they were ordered by the NLRB to play under the previous CBA for two more years.
I just do not see the NHL rolling the dice on an impasse and that is without considering the international and differing labour law juridictions between Canada and the USA and the immigration law constraints. YMMV.