NHL Lockout: Owners and Players Should Cut Financial Losses and Make a Deal

Nicholas GossCorrespondent IDecember 10, 2012

NEW YORK, NY - DECEMBER 05:  Following the NHL Board of Governors meeting, Commissioner Gary Bettman of the National Hockey League heads uptown to address the media at the Westin Times Square on December 5, 2012 in New York City.  (Photo by Bruce Bennett/Getty Images)
Bruce Bennett/Getty Images

The financial impact that the lockout has had on the NHL and NHLPA has been significant (via John Shannon of Sportsnet.ca), and after losing additional regular-season games, the situation is only going to get worse for both sides.

NHL now cancelled 526 of 1230 reg. season games.Players will have missed 6 of 13 checks by Dec.30. Owners will have lost close to $600 Mil.

— John Shannon (@JSportsnet) December 10, 2012

At what point will the league and its players agree that enough is enough and make a deal to avoid losing any more money?

There's no reason to continue losing revenue over a three-year difference on player-contract term limits (league wants five years, union wants eight) and a two-year difference on CBA term (league wants 10 years, league wants eight).

It's foolish to throw revenue away when both sides know there's a deal to be made.

Another area of future revenue that could be impacted is money received from corporate sponsors. It's difficult for companies to benefit from their partnership with the NHL when the lockout prevents any league events from happening.

It's impossible to calculate how much, if any future revenue from corporate sponsors will be lost as a result of this lockout, but how many of these companies, regardless of how large or small they are, will want to renew their contracts with the NHL if the league is unable to settle labor disputes in a quick manner?

It's a serious question that these corporations will have to think about when the time comes.

For the long-term financial health of the league to be strong, its players and owners must realize that there will be future consequences of their inability to strike a new CBA before losing a ton of games.

Aside from the owners and players losing money from this lockout, many of whom will be fine financially while games are not being played, there are lots of arena workers, team employees and local businesses that have seen their monthly incomes impacted in a negative way because of the lockout.

These people are the ones being hurt the most during the work stoppage. The owners and players need to realize that their greed and ego are affecting people who need NHL games to be able to work and provide for their families.

Both sides repeatedly say that they care about the fans, but many of these fans' jobs are affected by NHL games.

The two sides need to cut their losses and make a deal, and for that to happen, representatives from the league and NHLPA should trade proposals and negotiate off of them. There's no reason to make any offer "take it or leave it." That's not an effective way to negotiate.

According to Renaud Lavoie of RDS, owners may be absent when the two sides resume negotiations. This would be a smart move.

Don't expect any owners in the next NHL CBA talks. The league think its best for the process on their side right now.

— Renaud Lavoie (@RenLavoieRDS) December 10, 2012

It's time for the NHL and NHLPA to stop losing money over small differences and personal battles, and do what's needed to end this lockout.