Originally posted on Fang Faction  |  Last updated 9/12/12

GLENDALE, AZ - APRIL 14: NHL commissioner Gary Bettman speaks during a press conference before Game One of the Western Conference Quarterfinals between the Detroit Red Wings and the Phoenix Coyotes during the 2010 NHL Stanley Cup Playoffs at Jobing.com Arena on April 14, 2010 in Glendale, Arizona. (Photo by Christian Petersen/Getty Images)

After three hours of negotiations, the National Hockey League and National Hockey Players' Association both gave each other proposals Wednesday.

The NHLPA gave their proposal to the NHL at the start of the meeting in New York City Wednesday morning. In this proposal, the Union are willing to extend the length of the contract from four years, like their first proposal on August 14, to five years.

Also, Don Fehr said that in their proposal, the PA are looking to get 51% of all revenues in the NHL. "Our offer today would save the owners $900 million," said Fehr.

According to Gino Reda of TSN, the players aren't willing to take a smaller share of money, but not less money. What that means is, as more revenue is generated and made in the NHL, they will still get the same money they made last season towards next season.

Gary Bettman didn't like the deal and had this to say about it, "The players proposal was not much different and was not acceptable."

Not too much revealed as of now what the NHLPA proposed to the NHL in the morning, but more should come soon. 

Gary Bettman, Bill Daly, the owners and the rest of the NHL crew also gave the Union a proposal Wednesday that they feel very strong about. "We made clear in presenting the proposal that this proposal was intended to lead to a deal before the weekend, before the expiration of the current Collective Bargaining Agreement, and that if in fact a deal was not achievable what we had proposed would be off the table," said NHL commissioner Bettman.

The NHL proposed that instead of a drop in hockey related revenues to 47% in the first season, it would drop to just 49%, which would mean the NHLPA's HRR would drop 8%. After the first season, it would go back to 47%. However, Fehr will not like that too much.

Bettman also said that they were going to give the Union an extra $250 million - $300 million on top of the $460 million given to them in their last proposal.

They are still far apart, it seems. Hopefully meetings continue in the next few days before "the bell tolls". 

GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

WATCH: Bubba Watson's caddie owns heckler at PGA Championship

NFL denies sending Donald Trump letter about schedule

Michael Bennett calls out NFL stars for not speaking up on social matters

Nationals make astute move in acquiring Melancon

Son of former NFL player Antonio Armstrong charged with death of parents

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

U.S. Senator “appalled” by Bettman’s stance on concussions

Team USA’s Opening Ceremony uniforms look a little treasonous

Lawyer who reps concussion lawsuit wants to speak with Bettman

Tyler Eifert says he will never play in the Pro Bowl again

Australian athletes evacuate the Olympic village after fire

Russian weightlifting team banned from Rio

Texans GM 'disappointed' in DeAndre Hopkins

Can Andre Johnson end his regression in Tennessee?

Favre opens up about painkiller addiction during career

Miami women’s basketball coach criticizes Texas A&M following slideshow

Twin Cities preparing for influx of sex trafficking during Super Bowl LII

WATCH: Bautista bat flip will be available as NHL 17 celebration

Former USMNT, current MLS forward Davies battled cancer, in remission

The definitive guide to U.S. Men's Basketball at Rio 2016

Tony Romo training camp picture leads to fat jokes, concern

Matt Cullen’s family eats cereal out of the Stanley Cup

Texas A&M suspends coaches for sexist slideshow

10 most dangerous college football defenders in 2016

NHL News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Dr. Phil calls out the Patriots for their cheating ways

Everything that's already gone wrong at the Rio Olympics

Amar'e Stoudemire's presence (and absence) changed the NBA

We asked Team USA: What other Olympic sport would you play?

Why Gary Bettman's CTE denial is cause for concern for NHL

WATCH: Inside the Nike SNKRS BOX in SF for Golden Air Celebration

WATCH: Five other uniforms Chris Sale should cut up

QUIZ: Name every Olympic event in which the USA has never won a gold medal

Five U.S. Olympians favored to win multiple gold medals

WATCH: What teams should join the Big 12?

Today's Best Stuff
For Publishers
Company Info
Help
Follow Yardbarker