Players to get escrow money back

[Buffaloed]

Reported by Bob McKenzie on TSN
http://www.tsn.ca/blogs/mckenzie/?id=220234

Sources close to the NHLPA say the final HRR number for last season is now $2.326 billion, which is $8.6 million higher than the initial figures in June. At that level of HRR, the players' share is 55.6 per cent, up from 54 per cent in the first year of the new collective bargaining agreement.

That means the players will be getting back 72.4 per cent of the funds that were collected from them last season as part of escrow, plus interest.

Bob sums it up: they get back about $75K for every million in salary for 2006-07 season. That's a lot of "found" money for these guys. It would be nice if the NHLPA provided a program similar to what's done through employers with the United Way where players could automatically have a portion of their escrow refund donated to programs that grow the game.

 

[thinkwild]

If the players put forth 55% and the owners matched 45%, they could probably get something done.

It is interesting how they can put it though - the players are getting money back. Found money. In fact, in the end, it sounds like they kicked back $2.5% of their salaries to the owners. Lost money.

Each player earned 97.51% of his salary + bonuses, even with better revenues than they thought. Is that good budgeting and escrow management? Sounds pretty close. I wonder if players would ever get 100%+ back of the escrow held aside to cover owners again.

 

[kdb209]

Reported by Bob McKenzie on TSN
http://www.tsn.ca/blogs/mckenzie/?id=220234



Bob sums it up: they get back about $75K for every million in salary for 2006-07 season. That's a lot of "found" money for these guys. It would be nice if the NHLPA provided a program similar to what's done through employers with the United Way where players could automatically have a portion of their escrow refund donated to programs that grow the game.

Of course, they are just getting back a portion (75%) of their own money that was withheld in escrow - so instead of losing 10% of their salary, they only lose 2.5%.

The net result is that each player actually earned 97.51 per cent of the 2006-07 salary and bonuses. There was a time when it was thought the players would owe as much as 10 per cent of their income to the league, which is the figure that was used to collect escrow payments for 2006-07. Instead, it turned out to be an actual payback of only 2.49 per cent of their salaries.

 

[Fugu]

I think most of that new found money will go towards boats, or maybe a $100K Benz for some player's 20-yr old girlfriend (who actually may have more money than said player).

 

[Ted Hoffman]

Or so he can finally feed his dog.