2 Jan
The National Hockey League and the National Hockey League Players Association signed a Memorandum of Understanding (MOU) on January 12, 2013 reflecting a new 10-Year Collective Bargaining Agreement and ending the current lockout.
The new agreement will allow a much shorter regular season with 720 games with each team playing 48 games starting on January 19, 2013. Team training expected to start on Saturday, January 12, 2013. The agreement will allow hockey related earnings to be shared 50%-50% between owners and players, limit the individual player contracts to seven years, allow eight year contracts if the team is signing an existing player, and regulate the compensation structure. Other provisions of the agreement include a defined benefit plan for players, revenue sharing among clubs, creation of a Revenue Sharing Oversight Committee including union participation, assistance such as sharing revenue with lower grossing clubs to improve their long-term growth, a player play-off pool and others. One other area of agreement that is noteworthy is modification of Prohibited Substances List to include stimulants, amphetamines and others, and formation of a committee to study and make recommendations on the issue of HGH testing. The Los Angeles Kings immediately announced that will hold much delayed remaining ceremonies.