New York, NY (Sports Network) - The National Hockey League has ratified a new Collective Bargaining Agreement.
The Board of Governors voted its approval on Wednesday by a 30-0 vote, and it was formally announced by Board chairman and Boston Bruins owner Jeremy Jacobs. The last remaining step towards an official start to the 2012-13 season will be the NHLPA's ratification of the same.
No official word has been given, but TSN of Canada reports that the players' union vote to ratify the CBA will occur on Friday and Saturday.
The new accord will last for 10 years, with an opt-out clause in eight. The players' share of hockey-related income will reportedly drop from 57 percent to a 50-50 split. The salary cap for the upcoming season will also reportedly be $70.2 million and will then drop to $64.3 million for the 2013-14 campaign. All clubs will be required to have a minimum payroll of $44 million.
Bettman has previously stated that a regular-season schedule of at least 48 games must begin by Jan. 19. The existing 2012-13 NHL schedule had already been canceled through Jan. 14.