Quoted: Greedy players refusing 6 generous offers from the owners. They want more money than the leauge can afford without declaring bankruptcy.
|
The collective bargaining agreement expired and the owners locked the players out.
Owners want a salary cap, players refuse to accept one.
The owners claim they are losing too much money, yet they've been able to over the past few years accumulate a war chest in preperation for this lockout. A study commissioned by the NHL estimated that the league lost $273 million on revenues of $2 billion during the 2002-03 season.
Owners are proposing a hard salary cap, like the NFL and NBA, set at $32 million. The Detroit Red Wings and the New York Rangers current payrolls are well over twice that. The players have countered with a small rollback on salaries (5 percent), reducing salaries for rookies, and say they're open to a luxury-tax system like that of Major League Baseball.
We've all seen how well salary caps work at keeping the costs down in the NFL and NBA right?
BTW deej86, do you live in a cave? The lockout became reality on Sept 16.