Ilya Kovalchuk - Bryan Saul 0592-1297 NOTE AND RECENT...

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Bryan Saul 0592-1297 NOTE AND RECENT DEVELOPMENT: SALARY CAPS IN PROFESSIONAL SPORTS: CLOSING THE KOVALCHUK LOOPHOLE IN NATIONAL HOCKEY LEAGUE PLAYER CONTRACTS In the months leading up to the 2004-2005 NHL season, many feared that the NHL would soon enter a lockout as the league’s collective bargaining agreement was set to expire on September 15, 2004. One of the main issues of negotiation that the Players’ Association and the League had to deal with was the idea of instituting a yearly salary cap, and upon the completion of a new CBA, a newly implemented salary cap was one of the highlights. A salary cap was instituted to provide cost certainty to owners, and to promote parity between teams within the league. The salary cap set an lower limit that teams must spend on players’ contracts and an upper limit that teams could not exceed. In addition, the CBA set constraints on individual player contracts. No contract could pay a salary or a bonus that exceeds 20% of the upper limit in any given year. The
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This note was uploaded on 02/17/2012 for the course SPM 6726 taught by Professor Johnspengler during the Fall '11 term at University of Florida.

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Ilya Kovalchuk - Bryan Saul 0592-1297 NOTE AND RECENT...

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