Question: Many NHL players are already millionaires. Are they just being greedy?
Update: The NHL lockout ended in July, with a six-year collective bargaining agreement. For the details see:
Answer: Let's say you work as an independent contractor, as a plumber or software developer, perhaps. Some authority steps in, hands you a figure and says, "That's the maximum you can charge for your work. Some folks might be willing to pay more, but you can't sell your services any higher." You would probably consider that very unfair, which is how NHL players feel about a salary cap.
Not all NHL players are millionaires. Lots make less than $1 million per year. Yes, even a cheap player earns $300 thousand or $400 thousand these days. But many careers are short. For an average player, the overall earnings don't look nearly as impressive when you account for a lifetime of training dedicated to a career that is often over by the age of 30, with only a few peak earning years.
The NHL Players' Association is not looking to guarantee astronomical salaries. Players say they are willing to live with the fluctuations of the market. Under the current system, teams are free to offer players more money, and free to offer them less. In the summer of 2004, many players signed contracts that included pay cuts or no salary increase.
The NHL employs the top 700 or so hockey players in the world. Look at other professions - lawyers, doctors, businessmen, entertainers - and you will find a few hundred people at the top who are making millions of dollars. Athletes are an easy target because they get more publicity.
According to league figures, the NHL generates $2 billion per year in revenue. The players bring that money in, so they deserve a healthy share of it. We might say a hockey player is "not worth" an average salary of $1.8 million. But the economics of the NHL say otherwise.
A few other arguments in response to the accusation of greed:
