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NHLPA elects to raise cap 5 percent

NHL.com @NHL
The National Hockey League Players' Association Executive Board has elected to maintain the 5 percent Growth Factor for the 2010-2011 season.
 
The growth factor is automatic under terms of the CBA, once revenues exceed $2.1 billion unless either the NHL/NHLPA proposes another Growth Factor based on actual revenue experience or other projections.
 
The NHL and the NHLPA will jointly announce the 2010-2011 Payroll Range prior to July 1, 2010.
 
In addition, the NHLPA exercised its option to extend the current Collective Bargaining Agreement (CBA) for the 2011-12 season. The current CBA between the NHLPA and the National Hockey League (NHL) was scheduled to expire on September 15, 2011, will now remain in effect through the 2011-12 season.
 
Statement from NHLPA Executive Board:
 
"The NHLPA is pleased to announce to hockey fans that the CBA will remain in effect through the 2011-12 season. It is apparent through the operation of the CBA that there are a number of issues that require serious examination. The NHLPA is currently reviewing these issues and will be forming a negotiating committee in the coming months in order to address these matters."
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