Report: Players feel betrayed by NHL's new escrow proposals
A recent NHL proposal to tweak the league's escrow structure to cope with the effects of the pandemic has left players feeling angry and betrayed, reports Sportsnet's Elliotte Friedman.
The NHL and NHLPA held a meeting Wednesday, during which the league offered two proposals. The first asked for players to defer 20% of their salaries while escrow increases to 25%. The second asked players to defer 26% for next season, but escrow is left alone until Years 4-6 of the current collective bargaining agreement.
"There were audible gasps when this was presented," one player on the conference call told Friedman.
Before the league returned from its pause this past summer, the NHL and players' association agreed to 10% salary deferrals for the 2020-21 campaign, with escrow capping at 20% and lowering slightly each year until 2022-23. That deferred money is due to be repaid in three equal, interest-free installments in October 2022, 2023, and 2024.
The NHL is targeting a Jan. 1 start date for the 2020-21 campaign and is expected to hold a regular-season schedule of 48-to-60 games. Other hurdles the league is currently facing include division realignment due to border restrictions and whether fans will be able to attend games at limited capacities.