NHL players yesterday offered to cut existing player contracts by 24 percent, a collective pay reduction of approximately a half-billion dollars over three years, in an attempt to break the deadlock with owners that has resulted in the cancellation of the NHL's season to date.
"The proposal today is a basis for an agreement," said NHLPA Executive Director Bob Goodenow following a four-hour meeting in Toronto yesterday with the league. "It is significant. It is substantial."
| _____ From The Post _____
• Mario Lemieux and Wayne Gretzky take part in six-hour meeting between NHL and players' union but no deal is reached.
• Commissioner Gary Bettman officially cancels the NHL season.
• There is speculation about where the league goes from here and whether it can survive.
• Michael Wilbon: There's no question the league and its owners won this particular battle.
• The cancellation may work to the Capitals' advantage in time.
• Q&A: What's next?
_____ On Our Site _____
• Audio: The Post's Thomas Heath discusses the end of the season.
• Video: Bettman announces the cancellation of the season.
• What's Your Opinion?
_____ Lockout At a Glance _____
• NO SEASON: The NHL season was canceled Feb. 16 over a lockout that started before training camps opened last September. It's the first major North American sport to lose an entire season to a labor dispute.
• THE REASON: The NHL and the players' association couldn't resolve how to split revenues from the $2 billion industry. The league demanded a salary cap, but by the time the players agreed to that, it was too late to work out how much the cap would be.
• WHAT'S NEXT?: The NHL could seek the declaration of an impasse, which allowing it to implement its last offer, open training camps in September and invite players back. The players' association would likely respond with a strike.
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Commissioner Gary Bettman swiftly responded to the proposal, saying that the offer "is very significant" because it acknowledges the league's troubled economics. However, Bettman said it may not go far enough to address the NHL's long-term problems.
"The element is a recognition by the union of our economic condition," Bettman said. But he called the initiative a "one-time element and we really have to focus on our systemic issues."
Bettman said the league will digest the proposal and respond on Tuesday.
In addition to the rollback, Goodenow said the NHLPA also offered a 20-cent tax for every dollar spent on payrolls over $45 million. The tax rises to 50 cents on the dollar over $50 million and 60 cents on the dollar over $60 million.
-- Thomas Heath
and Tarik El-Bashir
