As the NHL and NHLPA enter the penultimate season under their collective bargaining agreement, there’s a new tone emanating from both sides: optimism.
For a league that has experienced three lockouts over the past 30 years, it’s a welcome change. The NHL and NHLPA last negotiated a CBA in 2020 — amid the COVID-19 shutdown, when discussions were bundled with return-to-play protocols. Financials were bleak, especially for a sport quite dependent on gate revenue. In an unprecedented climate, both sides collaborated for solutions. Four years later, they all rebounded in a big way. Revenue hit a record $6.2 billion last season, as the league also set new marks in attendance and saw a spike in sponsorship revenue, thanks to evolving attitudes on sports betting, helmet decals and showcasing individual players’ personalities.
In Sportico’s recent valuations, the average NHL franchise is worth $1.79 billion — a 37% increase in just one year.
Last month at a board of governors meeting, NHL commissioner Gary Bettman said he’d like to start (and hopefully end) CBA negotiations early, saying “in terms of the relationship, we think we’re in a good place.”
The NHLPA’s new executive director, Marty Walsh, is equally positive these days. “Myself and Gary Bettman have had very open conversations about how this potentially could be laid out,” Walsh told ESPN in a recent interview. “Going in with an open mind, with open dialogue is how I’ve always approached collective bargaining.”
Both sides are motivated to continue momentum. And sources on both sides suggested that if a deal was reached as soon as this spring, there would likely be few changes to the overall structure, just tweaks. But from a player’s perspective, there’s only so often you can ask your boss to reopen your contract and hope to change the terms. So what exactly would the players like to achieve?
Walsh agreed to an interview but declined to speak on specific issues, saying it was premature. Walsh is currently on his annual fall tour — a series of individual union meetings with every team — to canvass players opinions. “Once we assess where we are at and what players feel, we will take next steps after that,” Walsh said.
In the interim, ESPN spoke with 21 veteran players around the NHL to get an early pulse on what issues are important to them. The players were granted anonymity to speak openly. Here is a primer of what topics are on the table and what might be feasible in a new CBA:
The one item that came up again and again with players was money. “It’s not overly complicated at this point; we need to grow revenue,” one player said. “It’s what all the other sports are doing. We don’t need to be squabbling over points; we need to make the pie larger so we can have a larger slice. This deal has been great for the owners.”
Players cited several examples on how the league’s value has ballooned. Jeff Vinik bought the Tampa Bay Lightning in 2010 for a reported $93 million. Vinik recently sold a majority stake of the team, which is now valued at $1.8 billion, per Sportico. Meanwhile players’ salaries have largely remained stagnant. Florida Panthers star Matthew Tkachuk’s cap hit ($9.5 million) is roughly the same as what his father, Keith Tkachuk, was making in the 1999-2000 season for the St. Louis Blues ($10 million).
The NHL and NHLPA currently have a 50-50 split on hockey-related revenue. The salary cap, which is calculated based on HRR, remained largely stagnant through and directly following the pandemic to account for losses — although the league has hinted at bigger jumps the next several seasons. Players are hoping those jumps are sizable.
“Coming out of COVID was tough, and it felt like we took a lot of compromise to get to where we should be,” one player said. “Now it seems like the league has done well with HRR, and hopefully that allows us to see the benefits.”
It’s unclear what economic proposals either side will bring to the table. Players uniformly felt they took a cut when the split went from 57-43 to 50-50 in the 2012 CBA. They have no appetite to decrease further, even if the league tries to argue that in other sports, including the NBA and NFL, the players’ share is less than 50%. Several players wondered whether the NHL could institute a luxury tax.
“We have some owners who would definitely be willing to spend over the cap,” one player said. “We should reward that. And then that money gets spread across all the owners, and for some of the smaller-market teams it puts money in their pocket.”
Players said they would like to receive a cut of future expansion fees as the league flirts with the idea of 34 teams. “We should fight for that, no doubt,” one player said. But, according to sources, that could be a sticking point for the league.
As usual, many players brought up escrow — in which the league withholds a portion of their salary until revenue is accounted at the end of the season — as something they were passionate about eliminating.
“I think a lot of guys get confused or caught up with escrow, but it’s just a mechanism for getting paid,” one player said. “We need to be focusing on the bigger picture. We want to get rid of escrow. I’m sure the owners want to get rid of guaranteed contracts. We all should be focused on how we can bring more attention and dollars to the sport.”
What could it be? The NHL should get another infusion of cash on the new Canadian TV deal, which will kick in for 2025-26. Players were optimistic about the presence of Amazon, which is dabbling with streaming games in Canada and produced an all-access show, “Faceoff,” that got buy-in from players and the league.
Said one player: “I don’t think there’s a silver bullet, or one thing that will help revenue. But all of our energy should be focused on finding new ways to grow our sport.”
Throughout the course of the season, when matters are raised by players or at a general managers meeting, the answer can be a common refrain: That’s a CBA issue. So what topics since 2020 do the players feel passionately about revisiting?
Walsh and his top lieutenant, Ron Hainsey — a defenseman who retired from the league in 2021 — are continuing their fall tour, which is expected to stretch into December. Discussions on the tour will help shape points of emphasis for negotiations with the league. Walsh said he is in no rush.
“It’s really dictated by the players,” Walsh said. “It depends on where we are with the players, what the players want to do. I mean, this is their association. We’ll talk to the entire team, and then we follow up with player reps and follow up individual players who are interested in this stuff. Players are everyday people. They’re busy with life and family and everything else. So some players want to get very engaged and some just want to support their teammates.”
If the sides come to a resolution by June, there is nothing that prevents a new CBA from going into effect before the prior one is completed. So if both parties agree, the new CBA could theoretically begin as soon as next season.
Walsh was hired in February 2023 after an exhaustive search. He was the longtime mayor of Boston before serving as the U.S. Secretary of Labor. Players on the search committee said they liked Walsh’s political background — his ability to communicate, form relationships and garner support. He has remained accessible, giving all 750-plus members of the union his cellphone number.
“I think guys are feeling really confident being led by Marty,” one player rep said. “He has good energy, a good feel for the CBA, the league and also how to develop relationships with Gary [Bettman] and work with the league. We know issues are going to come up, but we feel like he’ll get them resolved.”
One question several players wondered: Who will exercise their voice and help in the fight? The NHL’s new marketing campaign is all about Gen Z as Connor McDavid, Auston Matthews and Connor Bedard become the new faces of the league. In the past, Sidney Crosby has been very opinionated on league issues behind the scenes, then goes through proper channels.
“Other sports that are seeing a lot of success are driven by their stars, and that’s where we want to be,” one player said. “Patrick Mahomes, LeBron James, they’re at the forefront of league issues. That matters.”
Walsh said it was too early to identify which players might be the spokespeople for the union. “Depends on how negotiations are going,” he said.