About the agreement
The main points in the NHL's new collective bargaining agreement:
Term: The agreement is for 10 years with an opt-out provision after eight.
Hockey-related revenue: Will be split 50-50 between owners and players. Players last season received 57 percent.
Salary cap: Remains at $70.2 million (pro-rated) this season but decreases to $64.3 million for 2013-14. The salary floor is $44 million for both seasons.
Player contracts: Maximum length of seven years, though teams can sign their own free agents for up to eight years. … Entry-level contracts remain at three years. Eligibility for unrestricted free agency also stays the same: Players must be 27 years old or have seven years of NHL service.
Salary variance: No more than 35 percent year to year within a contract, though no single season's salary can be less than 50 percent of the highest season's.
Player buyouts: Two can be used after this season by summer 2014. They will not count against the salary cap but will be charged to the players' share of hockey-related revenue.
Draft lottery: All 14 nonplayoff teams will be eligible to claim the No. 1 overall pick. In the past, only the teams with the five worst records were eligible.
Free agency: Will continue to begin July 1, though it will be delayed this year because of the season's late start.
Revenue sharing: Teams will share $200 million, up from $150 million.
Olympics: Participation in the 2014 Games in Sochi, Russia, will be made outside the deal.
Damian Cristodero, Times staff writer