Late Friday afternoon, the NHL and NHLPA released the following statement:
The NHL and the NHLPA have reached a settlement of their dispute over 2010-11 Hockey Related Revenue (HRR). The return of Escrow monies to the Players and Revenue Sharing payments to the Clubs were on hold while these matters were being resolved. The Players’ Association and the League have also reached an agreement about how some of the disputed HRR issues will be addressed for this season (2011-12).
This is a big, positive first step towards the beginnings of a new Collective Bargaining Agreement. Fans should be thrilled that this got done before the All-Star Game.