The offer, a 10-year CBA with an opt-out after eight-years, still gives the Players $300 million as part of a make-whole provision.
Free agent contract lengths have been upped from five-years to six-years, with a seven-year limit for players re-signing with their own clubs, while the five per cent variant has also been increased to 10 per cent -- in any given year of his deal, a player cannot make less than 10 per cent of the highest year of his contract.
The NHL has also called for a one-player amnesty clause, which will allow teams to buy out one player from their roster this season and it won't count against the salary cap, however it will count against the Players' share as part of Hockey Related Revenues.
Meanwhile, the NHL proposed for the 2013-14 salary cap to be at $60 million, which will have an affect on the percentage of players' salaries put into the escrow fund, but the currently $70.2 million salary cap set for the 2012-13 season will remain and no salary rollbacks will be issued.
Entry-level contracts, a player's arbitration rights and free agency status have remained the same under the NHL's offer, while the first day of free agency has been moved from July 1 to July 10.
Several other changes to the NHL's last offer have also been made, and other issues that have not been discussed have now been highlighted as part of the NHL's newest proposal. Some of the
main points were
published by ESPN.
It's unclear when the NHLPA will respond. The Players' have scheduled a conference call for 3pm ET today with its membership to discuss the offer.
To date, the NHL has cancelled games through Jan. 14. Sources tell TFP that if a deal is not struck by Jan. 11, the League will cancel the entire regular-season.
UPDATE: 5:19pm ET
The NHLPA conference call ended prior to 5pm ET.
UPDATE: 5:43pm ET
An NHL source has told TFP a conference call between the NHL and NHLPA has been scheduled for Saturday to discuss the League's proposal. At this hour, the NHLPA continues to review the offer internally.
UPDATE: 7:40pm ET
The NHLPA continues to review and analyze the NHL's proposal, and will continue to do so all day Saturday. The NHLPA will hold several conference calls with the NHL throughout the day on Saturday to discuss the offer and any questions they may have, upon which the two sides could meet face-to-face on Sunday. An in-person meeting at the NHL's offices in New York City won't be confirmed until Saturday afternoon, at the earliest.
More details to follow...