So sadly, as the September 15 deadline looms closer, it seems we are destined for a lockout. And there is not much optimism of it being sorted soon - some are talking December, most seem to think January.
The main point of contention is of course money. The owners initially wanted to cut the player's share of revenue from 57% down to 43%. This was revised to 46%. Still a tremendous decrease. This is despite the league revenue increasing $1.2bil since 03-04.
Another, more ridiculous, sticking point for the owners is they are looking to introduce some sort of regulation on contract lengths. They are complaining there are too many lengthy high value contracts being written, despite the fact they are the ones slitting their own throats to offer these deals to lock up star players (ie just look at the pickle Vancouver are in now over Luongo's deal). Nuts.
However, an interesting story is coming from the Canadiens. Labor laws in Canada are provincial, and Quebec doesn't recognise the NHL Players Association. So while this means the players within Quebec forfeit their right to strike, it also means they cannot be locked out. Should the NHL issue a lockout, the Canadiens may still have to pay its players.
One can only hope cooler heads prevail and we don't get a repeat of the 04-05 lockout that wiped out the entire season. The difference now however is that unlike the 04-05 lockout, the public is on the side of the players.