Welcome Back Hockey

Wednesday, July 13, 2005
I didn't even realize you were gone. Seriously, I'm a sports fan and I barely realized that they didn't play hockey last year. Did anybody not in Canada really care that we didn't have a hockey season?

Man the NHL players are stupid. They gave up a whole season for nothing. Here are the highlights of the expected terms:

Salary Rollback: Players will give back 24% of their contracts to the owners. 24%!

Salary Cap: There will be one, about $37 Million

Individual team-by-team player cap: No one player can earn more than 20% of any one teams payroll. This one is going to be interesting how it plays out.

Escrow: A still to be determined percent of players salaries will be placed in an escrow account. In the new deal, league-wide payroll can't exceed 54 percent of total league-wide revenue. If league-wide payroll is determined to be more than 54 percent of revenues, the escrow account will be passed back to the clubs. If league-wide payroll is determined to be less than 54 percent of revenues, the escrow account will go to the players.

So basically the Players lost on every front. Way to give up millions of dollars guys and still get screwed!

One of the things this shows me is that Athletes are NOT overpaid. The market takes care of it. The athletes thought they were worth more, and they were dead wrong. The owners took a stand and said, look we can't pay you this much and we won't. In the other sports, athletes want more money and the owners gave it to them because they were still able to make a profit. It wasn't the case in Hockey, and the NHL shutting down for a season just proved it.


Anonymous said...

Did you hear about this?

T said...

Yes I did. I actually heard about it last night when the news broke at about midnight. I'm a Laker Junkie.

Anonymous said...

I was VERY aware of not having an NHL season. But if you are a hockey fan such as myself, the strike would have made a little more sense. I'm glad it's over and things can get back to normal in the Hockey world.