NHL, players reach deal to end lockout

Posted at Jan 07 2013 11:50 AM | Updated as of Jan 07 2013 07:50 PM

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MANILA, Philippines – The National Hockey League (NHL) and locked out players have reached a tentative agreement to end a bitter labor dispute and salvage what is left of the season.

After a marathon 16-hour negotiation season, the tentative verbal agreement to end the lockout was reached at around 5 a.m. in a New York City hotel.

Exact details of the agreement will be announced in the coming days, but it is believed to be a 10-year deal with an opt-out clause on the eighth year.

The lockout, which the league has said is costing the NHL about $18 million to 20 million per day, began in mid-September when the previous collective bargaining agreement expired. -- Mornings @ ANC, January 7, 2013