- A hard salary cap linked to 54 per cent of league revenue
- The salary cap will be $37 million and won't include medical and dental benefits and pension payments, the Times reported
- A cap floor of $22 million
- No luxury cap
- Revenue sharing (top 10 helping bottom 10)
- A 24 per cent rollback of existing contracts and qualifying offers
- A provision that will limit the salary of any player to 20 per cent of the team cap figure in any season
- The new deal includes a provision under which 15 per cent of each player's paycheck will go into an escrow account until revenue is calculated after each season
- If league spending on salaries exceeds 54 per cent of revenue, the difference between the salaries paid and the negotiated percentage will be paid to teams from the escrow account. If teams spend less than 54 per cent, the escrow money will revert to players
And the biggest one of them all....
- Each team will also have an equal chance in the lottery for the No. 1 pick in this year's entry draft
Thanks to www.sportsnet.ca for the details.