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The Globe and Mail is reporting that the deal, providing the "cost certainty" that the NHL has been seeking, will consist of a floating, team-by-team salary cap and floor based on a percentage of each team's revenue projections. What is being reported as a six-year deal has a salary cap range of $34-36 million and a salary floor of $22-24 million, both hard caps. The new deal will also reportedly include the across-the-board 24% decrease in salary offered by the NHLPA in February. A dollar-for-dollar Luxury tax will also take effect at the halfway point between the lowest salary floor and the highest salary cap (slated to be $29 million for the first year of the deal). Details about what will be done with this money have not been completely worked out, but it is thought that this money will be distributed to teams below the halfway point in such a way as to make sure they remain above the salary hard minimum.