TORONTO -- The NHL Players' Association informed its
membership Wednesday that the league's 700-plus players will
receive all of their escrowed payments plus interest as well as
additional "shortfall" payments of between 3.5 to 4.5 percent.
Once the final accounting was done on the 2005-06 season it was
determined players didn't take up their full share of the 54
percent of league revenues coming their way under the terms of the
new collective bargaining agreement.
Players pay into escrow accounts throughout the season as
insurance for owners in case salaries eat more than 54 percent of
revenues. Last season, escrow payments on player pay checks began
at 12 percent before dropping to 4 percent in January when both the
union and league agreed revenues would surpass initial projections.
Not only will players get all of their escrow payments back, but
with interest as well as an additional 3.5 percent to 4.5 percent.