With the NHL and NHLPA negotiating a new CBA, The Bread Man decided to share some thoughts on the bread of NHL owners. (Sorry.)
“I’m not only concerned about the health of the players and their families, but also about the long-term prosperity of the NHL.” Artemi Panarin he wrote, “For nearly two decades, Gamblers have protected homeowners’ incomes with escrow, even throughout this pandemic crisis, even as homeowners equity continues to grow exponentially. Time to settle the trust.
After signing a seven-year, $ 81.5 million contract over the summer, Panarin set his career highs in goals (32), assists (63) and points (95) and could be a finalist for the Hart Trophy as NHL MVP .
Panarin added that the players “cannot appear at the camp to resume play without already having an agreement”
The full statement says:
I really want to make the playoffs with the New York Rangers. I’m concerned with not only the health of the players and their families, but also the long-term prosperity of the NHL. For nearly two decades, Gamblers have protected homeowners ‘incomes with escrow, even throughout this pandemic crisis, even as homeowners’ equity continues to grow exponentially. Time to settle the trust. We as players cannot inform the camp to resume play without having an established agreement. We are all in this together. Also, I know that the selection process for Hub Cities is ongoing. I sincerely hope that my teammates and I can train and play games at MSG and bring job and financial opportunities to New York for Rangers fans and all New Yorkers.
The trust has long been a controversial topic among NHL players, including with Washington Capitals captain Alex Ovechkin.
“I’m not saying there was a phone call, but they wanted Game 7,” Ovechkin said while playing with the Rangers in the 2013 playoffs. “For qualifications. You know, the lockout, the escrow, the league must make a profit.
Ryan Kesler echoed Panarin’s comments saying “we are done paying [the owners] debts “.
It is about time … the owners must understand that we have finished paying their debts … … you take your team to the ground and you … if there is a pandemic, it is in the owners’ hands … discover it is not a free ride @NHL @NHLPA pic.twitter.com/9qPpWvYiQE
– Ryan Kesler (@Ryan_Kesler) June 25, 2020
According to the CBC, this is how the escrow works.
Players and owners divide NHL 50/50 “hockey related earnings” (players get their share of wages). At the end of the playoffs each year, both sides meet and count how much money the NHL made that season. They then use that number to estimate how much they will make next season (a five percent increase is a typical assumption). The salary cap, which is designed to ensure that players earn 50 percent of earnings and no more, is set based on that number.
But because it is impossible to predict exactly how much income they will get, a percentage of each player’s salary remains in custody until the money is counted at the end of the season (not always the same, but 15 percent is good) number stadium). If the NHL works really well and exceeds the revenue projection by a significant amount, all that money is returned to the players. But if not, owners can keep everything they need to make sure they end up with exactly 50 percent of the income.
Based on that 2019 story, the NHL has kept at least 10 percent of player salaries for the past six seasons, meaning that a player like Ovechkin who earns $ 10 million per season loses more than $ 1 million from your real salary.
Panarin’s comments seem to indicate that players will use their influence to resume the season during the coronavirus pandemic to try to end or minimize custody payments in a new CBA.
Get that bread, Artemi!
