The NHL is in the final stages of a lockout that began earlier this year and has stretched to this week.
Here are some things you need to know:The NHLPA announced on Thursday that it has agreed to a tentative two-year extension to the two-and-a-half-year contract extension the union had agreed to with the NHL in late February.
The NHLPA has until Sept. 30 to reach an agreement with the union on a new collective bargaining agreement.
The two sides will meet again on Oct. 18 to consider a new deal.
The league’s two-way contract with the players is worth $2.8 billion per year through 2021, with a cap of $68 million per year.
The union had been seeking an extension of the two year deal until 2022, but the league has yet to sign off on a deal.
The union has argued the new contract would force the players to retire earlier than they have been in recent years.
A deal could take as long as four years to negotiate.
A tentative agreement was announced on Friday that included $2 billion in salary cap relief for players in 2021-22, $2 million for players who are on restricted free agency in 2022-23 and $1.5 million for teams that do not have a restricted free agent.
The NHL also announced a new two-team playoff format in 2021, which will be played on Sunday, Oct. 25, to allow teams to add to their roster in the next two weeks, and allow for one game per week.
The commissioner said on Thursday he was open to extending the NHLPA’s collective bargaining deal, but he has yet do so.
The new deal will likely put an end to any talks that have been ongoing, according to people familiar with the matter.
The new deal does not require the union to accept a new agreement from the league or any other player’s union.
The two sides have already begun negotiating on a possible two-season extension, according.
If the two sides can reach an accord, the union would get a full year of salary cap money, and the league would get one year of cap relief.
The lockout began late last year and was the first major financial blow to the NHL since it was formed in 1997.
The league has struggled financially and fans have continued to complain about the slow pace of player injuries, poor play by some players and the lack of transparency.
The lockout was particularly intense during the Stanley Cup playoffs, which resulted in the departure of two coaches and a general manager.