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Leagues and Governing Bodies

NHL, Players Set Escrow Withholding Rate At 15% For First Quarter Of '16-17 Season

The NHL and NHLPA on Saturday "set the escrow withholding rate for players" at 15.5% for the first quarter of the season, according to Frank Seravalli of TSN.ca. That portion of the players' salaries will be "put aside" until after all of the '16-17 season’s hockey-related revenue is counted to "ensure a perfect 50-50 revenue split with owners." Based on past returns, it is "unlikely the players will receive that escrow money back in full." Last fall, the players received a refund of just 2.05% on the 15% that was "withheld bi-weekly" during the '14-15 season. The final revenue count from the '15-16 season "has not been completed, so it is not yet known how much players will be refunded from last year." The escrow withholding amount "can fluctuate by quarter based on the amount of revenue coming in." Last season, it started at 16%, then rose to 18%, before ending with a total take of 17%. Meanwhile, Gavin Management Group said that the NHLPA "voted to divide the profits" from September's World Cup of Hockey "by 70/30 or 65/35 for players who participated in the tournament versus general NHLPA membership" (TSN.ca, 10/22). Sportsnet's Nick Kypreos said of the players' World Cup revenue split, "Escrow's been a very sore point, and (the players) feel that some of that money might alleviate the pressures of the escrow. The good news is that escrow in this first quarter is going to be down for them. ... Is that enough to maybe bring this split back to 50-50? No, I don't think so, but at least it's a little bit better than it was last year" ("Hockey Night in Canada," Sportsnet, 10/22).

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