from IIHF.com,

The National Hockey League will not participate in the 2018 Olympic Winter Games, it was announced by the league.

“The IIHF is deeply disappointed to hear of Commissioner Bettman's decision not to have National Hockey League players take part in the 2018 Olympic Winter Games,” said IIHF President René Fasel.

“While we respect the NHL’s reasons for not taking part, there is no hiding the fact that this is a decision that robs ice hockey fans of the world's greatest best-on-best international ice hockey competition, and our sport of a truly global platform that has been in place since 1998. At the end of the day, ice hockey loses here.”

Following the IOC's decision not to cover costs such as insurance and travel for the NHL players, the IIHF worked to find a common ground that would have encouraged the NHL to continue to be a part of the Olympics.

In light of the NHL’s refusal to participate in the 2018 Olympic Winter Games, the IIHF will discuss with the participating teams the best way forward and move on with preparations for PyeongChang 2018.

“We have to remember that some of the greatest Olympic moments didn’t involve NHL players at all,” said Fasel. “We will move forward and continue preparations for PyeongChang. We still have the task to promote and build our game in Asia, and we will work hard towards this.”

continue which also includes this statement from the IOC...