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 TORONTO (AP) - Locked-out NHL players are expected to get back last season's escrow payment on Wednesday, a union spokesman says.
Players are set to be given 7.98 percent of what they earned last year, plus interest, on the day they were to have received their second paycheck of the currently delayed season.
The escrow payments will amount to about $80,000 for every million dollars a player earned, before deductions. For example, New York Rangers forward Brad Richards will gross approximately $960,000 after being the league's highest-paid player last season.
Under the terms of the recently expired collective bargaining agreement, players had a portion of their salaries deducted throughout the season and placed into an escrow account. Once the final accounting for the year was completed, which ensured the correct percentage of revenue was paid out in salaries, players were refunded accordingly.
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