Crown Prince reassures Saudi people about King Salman's good health    Saudi Arabia, Japan ink over 30 pacts in energy, manufacturing and financial sectors Tokyo hosts Vision 2030 Business Forum    Saudi – Qatari panel discusses aspects of further strengthening security cooperation    Energy minister: Saudi Arabia sets new world record in producing low-cost electricity from wind energy    Saudi AI model ALLaM joins IBM's watsonx platform, bolsters Arabic language capabilities    Amal Clooney supports ICC's decision to seek arrest warrants against Israeli and Hamas leaders    Syrian first lady Asma al-Assad diagnosed with leukemia, presidency announces    'Day of shame' as inquiry slams 'successive governments' for UK infected blood scandal    Seismic storm hits Italy's Campi Flegrei super volcano with strongest earthquake in 40 years    South Korea bans viral hit 'idolizing' Kim Jong Un    An amazing discovery in the Kingdom of Saudi Arabia: 'A burial represents a symbol of pharmacy'    'Two Kingdoms' initiative celebrates shared Saudi-UK artistic legacy    Minister Al-Khateeb: Saudi Arabia will become a global aviation hub    China hits back at US and EU as trade rows deepen    Oleksandr Usyk claims undisputed heavyweight title in 'Ring of Fire' match in Riyadh    Saudi Arabia: The emerging cultural powerhouse shaping global soft power dynamics    Jorge Jesus praises Al Hilal's resilience after dramatic last-minute draw in Riyadh Derby    Star golfer Scottie Scheffler arrested over alleged assault on police officer    Row erupts over portraits of Australia's richest woman    Al-Ittihad's victory drought continues, misses chance to qualify for ACL elite    JK Rowling in 'arrest me' challenge over hate crime law    Trump's Bible endorsement raises concern in Christian religious circles    Hollywood icon Will Smith shares his profound admiration for Holy Qur'an    We have celebrated Founding Day for three years - but it has been with us for 300    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



NHL, union reach agreement
Published in The Saudi Gazette on 07 - 01 - 2013

NEW YORK — The NHL and the players' association reached a tentative agreement Sunday to end a nearly four-month-old lockout that threatened to wipe out what was left of an already abbreviated season.
A marathon negotiating session that lasted more than 16 hours, stretching from Saturday afternoon until just before dawn Sunday, produced a 10-year deal.
“We've got to dot a lot of Is and cross a lot of Ts,” NHL Commissioner Gary Bettman said. “There's still a lot of work to be done.”
All schedule issues, including the length of the season and the look of the schedule, still need to be worked out. The NHL has models for 50- and 48-game seasons. The original estimate was regular-season games could begin about eight days after a deal was reached. It is believed that all games will be played within the two respective conferences, but that also hasn't been decided.
The collective bargaining agreement still must be ratified by a majority of the league's 30 owners and the union's membership of approximately 740 players.
“Hopefully within a very few days the fans can get back to watching people who are skating, not the two of us,” players' association executive director Donald Fehr said of himself and Bettman.
The players have been locked out since Sept. 16, the day after the previous agreement expired.
Under the negotiated CBA, free-agent contracts will have a maximum length of seven years, but clubs can go to eight years to re-sign their own players. Each side can opt out of the deal after eight years.
The pension plan was “the centerpiece of the deal for the players,” said Winnipeg Jets defenseman Ron Hainsey, who took part in negotiations throughout the process.
The actual language of the pension plan still has to be written, but Hainsey said there is nothing substantial that still needs to be fixed. “I want to thank Don Fehr,” Bettman said. “We went through a tough period, but it's good to be at this point.”
The players' share of hockey-related income, that reached a record $3.3 billion last season, will drop from 57 percent to a 50-50 split. The salary cap for the upcoming season will be $70.2 million and will then drop to $64.3 million in the 2013-14 season. All clubs will have to have a minimum payroll of $44 million.
The league had wanted next season's cap to drop to $60 million, but agreed to the same amount of last season's upper limit.
Inside individual player contracts, the salary can't vary more than 35 percent year to year, and the final year can't be more than 50 percent of the highest year.
A decision on whether NHL players will participate in the 2014 Olympics will be made outside the confines of the collective bargaining agreement.
While it's expected that players will take part, the IOC and the International Ice Hockey Federation will have discussions with the league and the union before the matter is settled.
After the sides stayed mostly apart for two days, following late-night talks that turned sour, federal mediator Scot Beckenbaugh worked virtually around the clock to get everyone back to the bargaining table.
This time it worked — on the 113th day of the work stoppage.
George Cohen, the Federal Mediation and Conciliation Service director, called the deal “the successful culmination of a long and difficult road.”
“Of course, the agreement will pave the way for the professional players to return to the ice and for the owners to resume their business operations,” he said in a statement. “But the good news extends beyond the parties directly involved; fans throughout North America will have the opportunity to return to a favorite pasttime and thousands of working men and women and small businesses will no longer be deprived of their livelihoods.”
All games through Jan. 14, along with the All-Star game, have been canceled, claiming more than 50 percent of the original schedule.
Without an agreement, the NHL faced the embarrassment of losing two seasons due to a labor dispute, something that has never happened in another North American sports league. The 2004-05 season was wiped out while the sides negotiated hockey's first salary cap. — AP


Clic here to read the story from its source.