How close are they heading into a third day of bargaining? Well, according to a report by Sportsnet.ca writer Michael Grange, the league has raised the amount of “make whole” money it is will to throw in the pot to $300 million from $211 million, essentially meeting the players halfway as the two sides try to develop a formula that will transition both to a 50-50 split on revenue.

The six owners in the meeting agreed to accept the NHLPA’s position to keep rules on free agency and arbitration rights the same as they were in the old CBA. The league remained steadfast on a five-year contract limit with no more than a 5 per cent variance in any year, but did suggest a free agent re-signing with his old team could sign for as long as seven years.

Also, the owners want a 10-year collective bargaining agreement, according to the Sportsnet.ca report. The players want a much shorter term.

“There are critical open issues between the two parties,” said Daly after the meetings ended.