Owners approve new NHL agreement in locked-out season

The National Hockey League has ratified a new collective bargaining agreement after a unanimous 30-0 vote by the board of governors on Wednesday. The next step to getting the season started is for the players union to ratify the deal which should take place this weekend. Board chairman and Boston Bruins owner Jeremy Jacobs announced the ratification while league commissioner Gary Bettman on Wednesday apologized for the 113-day lockout. "I'm sorry. I know an apology or explanation isn't enough, but I owe you an apology," said Bettman who has now overseen three labour disputes during his time in office. "I read the letters, I followed the tweets. I read the blogs. We have a lot of work to do ... that effort begins today." It is believed the players will vote to ratify the agreement, paving the way for training camps to begin sometime within a week. The new collective bargaining agreement will last for 10 years, with an opt-out clause after eight seasons. The players' share of hockey-related income will fall from 57 percent to a 50 percent with the owners also getting 50 percent. The salary cap for the upcoming season will also reportedly be $70.2 million with a minimum payroll of $44 million. The salary cap will drop to $64.3 million for the 2013-14 season. Bettman has previously stated that a regular-season schedule of at least 48 games must begin by January 19. The existing 2012-13 NHL schedule had already been cancelled through January 14.Source : AFP