It was the final move needed before the NHL season could officially get underway, the league and players association signed a Memorandum of Understanding this evening officially ending the NHL lockout. The MOU is essentially an outline of the new 10-year Collective Bargaining Agreement the two parties agreed upon earlier this week.
The agreement includes multiple economic variables, with the largest being the 50%-50% owners and players revenue share. It also includes term limits to contracts for 7-years for free agent signings and 8-years for any player resigning with a club. The league and players agreed upon a salary cap and floor, with year- to year escalations.
This CBA is the longest ever agreed upon in league history, but could be taken to eight if so chosen by the players. They also agreed to a performance enhancing drug clause in the contract, but have only moved to create a committee to figure out if Human Growth Hormone testing should occur.
The Lightning season will open Saturday, January 19th against the Washington Capitals.