According to an article on Sportsnet.ca the NHL holds back 13.5 per cent of players' paychecks. That money is available to the league at the end of the year in case NHL revenue projections are not met. The procedure was included as part of the most recent collective agreement so that players take home only their negotiated 56 per cent share of NHL revenues. Players have received back all of their escrow monies the past three seasons.
However, with the economy in free fall, the NHL board of governors were told last week in Palm Beach, Fla., that the current escrow might not be enough and that the percentage might need to increase to cover any shortfalls.
So for a player like Vesa Toskala who is making $4 million this year, he will lose $540,000 if the owners get to keep the escrow money. And next year may not be a great year to become a free agent if the salary cap drops.
12 years ago
