Now that the madness of CBA negotiations is finally over, here are the details of the new CBA.
LENGTH: The deal is for ten years, with a mutual opt out after eight years. That means the earliest that another lockout could happen is 2021. (Whether Gary Bettman is still the commissioner by that point is another story for another time.)
SALARY CAP: The cap for this season will be $60 million. Teams will be allowed to spend up to $70.2 million, as this is a transition year. The cap will be at $64.3 million for the 2013-14 season. The lower limit for teams will be $44 million for the first two years.
CONTRACT LENGTH: The maximum contract length a player can sign for is seven years (eight, if re-signing with their current team.) This will mean no more contracts of 10+ years. All contracts signed under the old CBA will still be honored.
DRAFT LOTTERY: All 14 non-playoff teams will be eligible for the number one pick. This is similar to the way the NBA does their draft lottery. Beforehand, only the bottom five teams (26th through 30th place) were eligible for the number one pick.
SUPPLEMENTAL DISCIPLINE: Brendan Shanahan will still be handing out punishments and releasing his suspension videos. The appeal process has changed, however. All appeals will fist go through Bettman. Any suspension longer than five games will be heard by a neutral third-party arbitrator.
- Free agency will open July 1 as usual.
- Revenue sharing among clubs will increase to $200 million. This does not include a growth fund of $60 million.
- A new joint league-player committee will determine participation in the Olympics and other international competition.
- Teams will have two amnesty clause buyouts to be used over the next two offseasons.
- Minimum salaries will begin at $525,000. They will increase to $750,000 in years nine and ten.