Locked-out NHL players expected to receive escrow cheques on Wednesday

 

 
 
 
 
Pittsburgh Penguins Sidney Crosby speaks to journalists following collective bargaining talks in Toronto on Thursday October 18, 2012. Negotiations continue between the NHL and the NHLPA to end the current lockout.
 

Pittsburgh Penguins Sidney Crosby speaks to journalists following collective bargaining talks in Toronto on Thursday October 18, 2012. Negotiations continue between the NHL and the NHLPA to end the current lockout.

Photograph by: Chris Young, THE CANADIAN PRESS

More on This Story

 

TORONTO -- The cheques are in the mail.

Locked-out NHL players are expected to have the pain of missing their first full pay period offset Wednesday when they receive last season's escrow payment, according to a spokesman for the NHL Players' Association.

Players are due to be returned 7.98 per cent of what they earned last year, plus interest, on the same day they would have received their second paycheque of the 2012-13 season if there hadn't been a work stoppage.

The escrow payments will amount to about $80,000 for every million dollars a player earned -- before deductions. For example, New York Rangers forward Brad Richards will gross approximately $960,000 after being the league's highest-paid player last season.

Under the terms of the expired collective bargaining agreement, NHL players had a portion of their salaries deducted throughout the season and placed into an escrow account. Once the final accounting for a year was completed, which ensured the correct percentage of revenue was paid out in salaries, players were refunded accordingly.

These escrow cheques come at an important time with the lockout set to eliminate another pay cycle. Players also missed a cheque on Oct. 15, but that would only have covered four days of work. The paycheque they would have received Wednesday would have been for a full half-month period.

NHLPA executive director Donald Fehr met with a group of players in Minnesota on Monday night and acknowledged in an interview with the Minneapolis Star-Tribune that some of his constituents are concerned about lost wages that are mounting.

"But that doesn't mean you make a bad agreement because of it," Fehr told the newspaper.

The NHL's labour talks have been on hold since Oct. 18, when the NHLPA countered a league offer with three proposals of its own. Each of those were quickly rejected.

Since then, a league-imposed deadline to play a full season has passed and the NHL cancelled all games through Nov. 30. The Jan. 1 Winter Classic outdoor game is expected to be wiped off the schedule later this week.

Superstorm Sandy forced the NHL to close its New York headquarters on Monday and Tuesday, but deputy commissioner Bill Daly indicated that it didn't affect the bargaining process. However, he added in an email that there was no progress to report on the labour front.

 
 
 
Font:
 
 
 
 
Pittsburgh Penguins Sidney Crosby speaks to journalists following collective bargaining talks in Toronto on Thursday October 18, 2012. Negotiations continue between the NHL and the NHLPA to end the current lockout.
 

Pittsburgh Penguins Sidney Crosby speaks to journalists following collective bargaining talks in Toronto on Thursday October 18, 2012. Negotiations continue between the NHL and the NHLPA to end the current lockout.

Photograph by: Chris Young, THE CANADIAN PRESS

 
 
 
 
 
 
 
We encourage all readers to share their views on our articles and blog posts. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, and please keep your comments relevant and respectful. If you encounter a comment that is abusive, click the "X" in the upper right corner of the comment box to report spam or abuse. We are using Facebook commenting. Visit our FAQ page for more information.
 
 
 
 
 
 
 
Your voice
Did the Oilers make the right move firing Eakins?
 
Yes, he was over his head.
No, the problem is much bigger.
Fire MacT. That is all.
Who the heck knows?