According to sources who spoke to the Minneapolis Star Tribune's Michael Russo, the NHL has offered a 50-50 revenue split and is willing to honor all existing contracts plus interest, but it doesn't seem like NHLPA executive director Donald Fehr has laid out the full specifics to the players.
According to Russo, the NHL was "perplexed" by the memo Fehr sent to the players Thursday the said there was a "significant gap" between the two sides and feels it didn't accurately portray what the owners offered. The 50-50 split and full honoring of existing contracts -- no matter the revenue generated -- were not mentioned, and players Russo has spoken to have said they'd be ready to play under those conditions. The NHL would also guarantee the players their 57 percent share of last year's revenue and because their share would drop to 50 percent immediately, the owners would pay the players back whose salaries took a hit in full by Year 2 and Year 3, respectively, including interest, depending on when their pay was cut. The league says it's "there" on revenue sharing, and Russo's source says the NHL is willing to go with the NHLPA's proposal. There will be no more meetings Friday and it's unclear whether anything will go on Saturday.