There is no new deal on the horizon in the NHL's collective bargaining talks.
One day after receiving a proposal from the league that commissioner Gary Bettman labelled "meaning-ful" and "significant," the NHL Players' Association made it clear Wednesday that it didn't share that view.
Donald Fehr, the NHLPA's executive director, took issue with the fact the offer included a reduction in the players' share of revenue to 46 per cent - when factoring in changes to how hockey-related revenue is calculated - and said it would see the amount of money players give up to escrow increase "significantly."
As a result, the union concluded the proposal wouldn't actually see current contracts paid out in full.
The union plans to deliver a counter-proposal by the end of the week, perhaps as soon as today.
With a Sept. 15 deadline for a lockout creeping closer, the calculation of hockey-related revenue has emerged as a sticking point.
