RALEIGH, NC – The National Hockey League’s Board of Governors today ratified the terms of the Collective Bargaining Agreement negotiated with the NHL Players' Association, ending a 310-day work stoppage, ensuring the Carolina Hurricanes will resume play for the 2005-06 season, and signaling a new era of cooperation and partnership.
"Today, our Board of Governors gave its unanimous approval to a Collective Bargaining Agreement that signals a new era for our League – an era of economic stability for our franchises, an era of heightened competitive balance for our players, an era of unparalleled excitement and entertainment for our fans," said NHL Commissioner Gary Bettman.
The six-year agreement, scheduled to run through September 15, 2011, may be reopened by the Players' Association following Year Four (2008-09). The Players’ Association also has the option to extend the agreement for one year at the end of the scheduled term.
The Collective Bargaining Agreement includes a completely revamped economic system under which, during the first year, total player costs of the 30 NHL Clubs will not exceed 54% of League-wide revenue. The calibration of the percentage in future years of the Agreement will be linked to a percentage of League-wide revenue, and could rise to 57% if League-wide revenue exceeds $2.7 billion. More details of the Collective Bargaining Agreement are available on NHL.com and (team website).
The Hurricanes will hold a news conference at the RBC Center Friday at 8 p.m. Owner Peter Kamanos, President and General Manager Jim Rutherford, Head Coach Peter Laviolette, Vice President of Business Operations Matt West and Hurricanes Player Representative Kevyn Adams will address the media at that time.