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Corrected-League and players reach tentative deal

Posted on: Wednesday, 13 July 2005, 13:50 CDT

(Corrects headline to read 'League and players' instead of 'League and owners')

By Frank Pingue

TORONTO (Reuters) - The National Hockey League and the union representing its players have reached a tentative deal which could end the lockout that has already wiped out an entire hockey season, the two sides said Wednesday.

The NHL and the National Hockey League Players' Association expect to ratify the deal next week, at which time they will discuss the terms of the new Collective Bargaining Agreement.

"It is anticipated that the ratification process will be completed next week, at which time the parties will be prepared to discuss the details of the agreement and plans for next season," both sides said in a release. "No further comment will be made until then."

Several media reports say the agreement is a six-year deal that includes a team-by-team salary cap of between $21 million and $39 million, a rookie salary cap of $850,000 and a 24 percent rollback of salaries for players on existing contracts.

NHL owners locked out players last September after they were unable to reach a new labor agreement, triggering a shutdown of the league and wiping out the 2004-05 season.

The tentative agreement, which arrived on the 301st day of the lockout, could end what has become the longest labor dispute in the history of North American professional sport.

($1=$1.21 Canadian)

Source: REUTERS

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