Oooouch, that one's got to hurt, it may have even left a bruise.
However, on a related note that should be filed under... he who laughs last, laughs best.
One year into the new economic order of the NHL and it's the league that owes money to the NHL Players' Association, not the other way around, as was initially expected.
Sources tell TSN the league did not spend 54 per cent of hockey-related revenue (HRR) in the first year of the new collective bargaining agreement and must now make up the difference to the NHLPA, as per the terms of the new collective bargaining agreement.
While the final calculations have not yet been done, sources suggest the amount could be in the $35 million to $40 million range, although the precise amount will depend upon the final calculation for HRR for the first year [...]
The fact the league owes the players money, and not the other way around, comes as a surprise only because in the midst of last season it looked as though the players might be owing a considerable amount - between 10 and 15 per cent of their salaries - as part of the escrow that is established if it looks as though the league is spending more than 54 per cent of HRR on player costs.
But because the revenue by season's end was much greater than originally pegged coming out of the lockout, the league ended up spending less than 54 per cent. Just as the players must pay escrow if the league overspends, the league must provide a "top-up" payment if it falls short.
Who's laughing now?