Bettman told reports in Toronto that the offer includes a 50/50 split of hockey related revenue in the first year, and will include no salary rollbacks.
Under the previous deal the players were receiving 57 percent of the hockey related revenue.
NHLPA leader Donald Fehr has yet to address the media following the talks.
WHAT'S NEXT: NHLPA has confirmed an announcement at 5pm today.
TRANSLATION: The owners are budging here, but this 50/50 is not a true 50/50 as the players 50% would be retro-active payments over the course of current contracts to eventually reach 50% over the length of each individual player's current contracts (but is still a good deal). In essence it would basically keep most of the current rules within the old CBA, and could produce a problem 5-8yrs from now if this deal is accepted and when this new deal would expire (we'd be right back here at square one basically), but hockey would begin again now and maybe knowing what the new revenues are going forward may help the NHL and NHLPA agree upon terms better when that time comes.
PROBLEMS: NHLPA is seeking more "protection" for entry level rookie contracts and terms. This deal is ONLY VALID if the deal is accepted and the season begins within the November 2nd starting point which would get in all 82 games (thus the deal is off the table if it cannot be agreed upon and starts Nov. 2nd because the calculations of the revenue are based on the NHL's profits of an 82 game schedule)
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