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NHL, union have tentative agreement
Updated: January 6, 2013, 6:17 AM ET
By Katie Strang | ESPNNewYork.com
NEW YORK -- The lockout appears to finally be over.
A tentative agreement has been reached between the NHL and NHL Players' Association, multiple sources confirmed to ESPN.com.
A source told ESPNNewYork.com that the emphasis should be placed on the word "tentative." That source said there is still work to be done but there has been a verbal agreement between the two sides on the major points.
The tentative agreement includes a 10-year collective bargaining agreement with a mutual opt-out clause after eight years and contract term limits at seven years (eight years for a team to re-sign its own players), a source confirmed to ESPNNewYork.com.
Sources said the 2013-14 salary cap, a very divisive issue, will be $64.3 million while the floor will be $44 million.
Word of the agreement came after the two sides hashed out their remaining differences for more than 16 hours at a hotel in midtown Manhattan, spelling the end to a lockout that has persisted for almost four months and cost more than half the regular season.
George H. Cohen, director of the Federal Mediation and Conciliation Service, issued a statement congratulating the NHL and NHLPA.
"The negotiated agreement represents the successful culmination of a long and difficult road in which the parties ultimately were able to reach mutually acceptable solutions to a wide variety of contentious subjects of bargaining," he said.



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