http://www.tsn.ca/nhl/news_story.asp?id=130274 "................. Among the most significant features are: - a hard team-by-team salary cap with a payroll of range of $21 million to $39 million (in the first year), which includes all player costs (benefits, insurance etc). - the league's total expenditure on player costs (salaries, bonuses, benefits and insurance) is not permitted to exceed 54 per cent of defined hockey-related revenue and the salary cap and payroll range will move up or down as revenues increase or decrease each year of the deal. - a 24 per-cent salary rollback for any NHL player who has time remaining on an existing contract, keeping in mind that the players will receive none of the monies they were slated to earn in the lost season of 2004-05. - liberalized free agency (including unrestricted status at 27 by year four of the deal), a more restrictive entry level system, totally revamped salary arbitration, improved pension benefits and a revenue-sharing plan. - Age eligibility for unrestricted free agency at age 31 in 2005, 29 in 2006, 28 in 2007. In 2008, it's 27 or seven years of NHL tenure. .................."