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KHL set to slash contracts

From the KHL:

The Kontinental Hockey League (KHL) and its Players' Union reached an agreement on the implementation of anti-crisis measures and amendments to the Rules of KHL Championship for the 2009/2010 season.  The document outlining the collective agreement was recently ratified and signed by KHL president Alexander Medvedev and the chairman of the union players, Andrei Kovalenko.

 Under terms of the agreement, the following measures will be implemented:

·        Changing the status of restricted and unrestricted free agents, in the interest of managing the size of future salary contracts

·        On April 22, 2009, there will be a redraft procedure that will bring together hockey players older than 22 years old, whose contracts with their previous clubs are in effect through at least the 2009/2010 season. Each club has the right to protect up to 15 players from participating in this process.  The remaining players will be eligible to be drafted by other clubs and sign new salary agreements

·        A centralized, 5% to 20% wage reduction (depending on the sum of the annual salary) on salaries for all players who have valid contracts. Excluded from this process are players who receive less than 3 million rubles (US$89,000) per year

·        The establishment of a TBD minimum salary for KHL players

·        The establishment of a 200 million ruble (US$5.9 million) minimum and 620 million ruble (US$18.3 million) maximum, guaranteed salary budget for KHL clubs

·        A limit of five foreign players for each club - five skaters or four skaters and one goalkeeper

·        The KHL, together with the players union and the National non-government pension fund, have agreed to work together to establish a non-governmental pension provision for players, as well as the lowering of the retirement age to 40-45 years

·        An agreement with the KHL players union on a joint accreditation of hockey player agents

·        An amendment to the Regulations of the Championship and the collective agreement with the KHL players’ union to offer membership in the union to all hockey players who participate in the KHL

·        It was decided to amend the Regulations of the Championship and the collective agreement with KHL players’ union on the establishment of a standing independent arbitrator whose jurisdiction would be, in a time of dispute between a player and club, to determine the amount of a new contract after the end of a player’s previous contract.  The decision of the arbitrator will be final, not subject to appeal to the courts of general jurisdiction or other authorities

So... that lucrative contract that drew Alexander Radulov back to Russia has been arbitrarily cut back due to the economic turmoil over there. Might this make a return to Nashville more attractive over the summer?