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Report- Players Agree To Increase Escrow Rate

from Pierre LeBrun of ESPN,

The NHL and NHL Players' Association have agreed to change this season's escrow rate to 20 percent, sources confirmed to ESPN.com.

That's up from the 10 percent rate both sides had agreed upon in late January shortly after the season began.

The change comes as a result of lower than originally projected NHL revenues for the lockout-shortened season.

That means players, as of this week, will fork over 20 percent of every paycheck into an escrow fund until both the league and NHLPA figure out the final numbers next summer or next fall in terms of hockey-related revenue.

continued

Filed in: NHL Teams, NHLPA, | KK Hockey | Permalink
 

Comments

Avatar

Outrageous outrage!  The NHL steals from the players again!  Indentured servitude!

Posted by HockeyinHD on 03/12/13 at 05:49 PM ET

HockeytownOverhaul's avatar

lower than projected revenue for this season?  Really?

Could’ve sworn I read an article on KK not too long ago that the NHL didn’t skip a beat because of the lockout, now they’re not meeting projections?

Posted by HockeytownOverhaul on 03/12/13 at 06:00 PM ET

Paul's avatar

You did, HTO.

Posted by Paul from Motown Area on 03/12/13 at 06:06 PM ET

Avatar

now they’re not meeting projections?

Depends on how stupid the projections were.  Knowing the NHL, really stupid.

Posted by HockeyinHD on 03/12/13 at 06:07 PM ET

HockeytownOverhaul's avatar

Posted by Paul from Motown Area on 03/12/13 at 06:06 PM ET

How anyone can believe anything that comes out of these guys mouths is beyond me.  “Their hypocrisy knows no bounds.”

Posted by HockeytownOverhaul on 03/12/13 at 07:13 PM ET

George Malik's avatar

We knew this was going to be “cap through escrow” going in. So did the players. They had to agree to what they did to ensure that there would be a season. It’s not ideal for them but it is what it is.

Posted by George Malik from South Lyon, MI on 03/13/13 at 12:45 AM ET

redxblack's avatar

Locking out the workforce to the detriment of the brand leads to lower revenues and bitter fans. There were several articles saying just that, and our resident genius kept opining on how wrong everyone was and that fans would be right back in seats as soon as they opened the doors.

Except the fans aren’t back, and the ones that are now are not buying licensed merchandise.

Posted by redxblack from Akron Ohio on 03/13/13 at 08:00 AM ET

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

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