The NHL and the NHLPA reached an agreement on a new six-year contract that will keep the two leagues together through the 2024-25 season, the league announced Tuesday.
The deal is for a combined $5.5 billion, including $1.5 million per season for each team, with $2 million in escalators.
It’s a massive deal for both leagues, which had been in discussions for more than a year.
Both leagues are seeking to maintain their status as the top professional sports league in North America and are the only two leagues in North American sports with at least five of the 20 franchises that are based in the U.S. The agreement allows for more flexibility with regard to contracts, with the new contract setting the league apart from other leagues.
It’s the first extension of its kind in the NHL and a major step in building the future of both leagues.
“We are delighted to have reached this agreement, and we look forward to continuing to build on our long history of winning and winning together,” NHL commissioner Gary Bettman said.
“As part of our long-term partnership, we will also continue to develop our youth program and work with our clubs and players to address their needs as we grow and grow the game. “
“It’s been a challenging season for us both in terms of players and in terms a franchise. “
But I think we’re in a great position to keep the fans engaged and keep building a competitive, exciting and fun game. “
It’s been a challenging season for us both in terms of players and in terms a franchise.
But I think we’re in a great position to keep the fans engaged and keep building a competitive, exciting and fun game.
We’re excited to continue to lead by example.”
The Avalanche announced Tuesday that they’ve also agreed to terms on a three-year extension that will see them remain in Denver through the 2022-23 season, with each team getting an additional $2.75 million in the first year and $4 million each in the following years.
The league’s expansion to Las Vegas was announced Tuesday and will begin play in 2020-21.
The New York Islanders announced Tuesday they’ve agreed to a three year extension that extends the club’s affiliation with the NHL until the 2022 season.
The team is currently in Buffalo and will remain in the AHL in the future.
The teams will begin training camp in June, with season tickets for both teams on sale this fall.
The NHL announced Tuesday it has agreed to three additional years of a two-year, $7.5-million contract extension that allows the Islanders to remain in Brooklyn through 2024-05.
The Philadelphia Flyers announced they’ve reached a deal on a four-year agreement that will remain with the team through the 2019-20 season.
It expires at the end of 2019-2020.
The San Jose Sharks announced they have reached an all-time NHL record deal with the New York Rangers, with an aggregate $58.5m.
The two sides are also reaching an agreement for a new 10-year deal.
The Tampa Bay Lightning and New Jersey Devils announced their tentative contract extensions.
The Lightning and Devils are entering the final year of their current deals and will receive a combined total of $30.2m.
The Dallas Stars announced they are working on a deal that will extend their current affiliation with Dallas through 2023-24.
The Stars will receive an aggregate of $34.8m.