In the most significant development since the NHL lockout began last month, the league issued a proposal Tuesday in Toronto that is designed to preserve a full 82-game season for each team if a collective bargaining agreement can be reached by Oct. 25.
The league proposed a six-year agreement with an option for a seventh that would split hockey-related revenues with the players down the middle provided the season can begin Nov. 2 after a one-week training camp.
A huge stumbling block has been the unwillingness by players to take pay cuts. NHL Commissioner Gary Bettman said he believes the proposal addresses that concern.
"We have about nine or 10 days to get this all put to bed, signed, sealed and delivered, in order for this offer to be effective and for us to move forward," Bettman said. "We hope that this effort that we've undertaken today would be successful because we know how difficult this all has been for everybody associated with the game, particularly our fans."
Donald Fehr, the NHL Players' Association executive director, took the NHL proposal and assembled his staff Tuesday with the intent of reading it, digesting it and fully understanding it.
The union wanted to crunch numbers before an afternoon conference call with its executive board and negotiating committee.
"Our hope is that after we review this that there will be a feeling on the players' side that this is a proposal from which we can negotiate and try to reach a conclusion," Fehr said. "I would like to believe that after we're done [reviewing the proposal] that it will be an excellent starting point and we can go forward and see if there's a deal to be made."
Bettman and Deputy Commissioner Bill Daly returned to New York to await word from the union when negotiations can proceed. It's expected to be Thursday.