From TSN's Frank Seravalli:

With early revenue projections in place, the NHL and NHLPA set the escrow withholding rate for players at 16 per cent for the first quarter of the season on Thursday.

That means every player will have 16 per cent of earnings deducted from their paycheque and put aside until after all of this season’s hockey-related revenue is counted to ensure a perfect 50-50 revenue split with owners.

“Escrow” is the dirtiest word in hockey locker rooms.

NHL commissioner Gary Bettman said earlier this month the league is projected to pull in more than $4 billion in revenue, but he was not comfortable divulging a more specific estimate publicly.

Players will receive their first of 13 paycheques for the season on Oct. 15. They will also each pay $30 per day in NHLPA union dues, according to Gavin Management Group, for each day on an NHL roster - or $5,580 per full season with 186 working days.

Based on past returns, it is unlikely the players will receive that escrow money back in full. Since 2009-10, players have given a chunk of their escrow fund to the owners every season, resulting in what amounts to a pay cut.