Saturday, May 07, 2005

NHL includes stiff luxury tax in latest proposal

After meeting for several hours again on Friday, the two sides hope to continue discussions next Tuesday. The National Hockey League tabled a proposal in Thursday's latest round of lockout negotiations with the Players' Associaton, sources told Rogers Sportsnet. The proposal is believed to include a stiff luxury tax system, with a tax structure adjustable to accommodate the rate and threshold on how the proposed CBA would be working. There is speculation among hockey circles of a dollar-for-dollar tax with revenue sharing among the NHL generated from this system. The luxury tax would trigger a hard cap agreement that is expected to come in with a floor of $25-million and a ceiling below $35-million.

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