Did you know that Sean Avery will get more money playing for the Connecticut Whale in Hartford, than for the New York 'high and mighty' Rangers? That is because of the "escrow clause" in the NHL's Collective Bargaining Agreement (CBA).
The "escrow clause" was set up to ensure the correct revenue split between the owners and the players. This is done by placing a percentage of each player's salary in escrow. When the total NHL revenues are determined at the end of the season, the escrow account is divided among players and owners to ensure that the target has been met. The NHL players have paid into this escrow account at rates between 13.5% to 25% of their salary.
The good news for Sean Avery and Wade Redden is that they do not have to pay money into the escrow account. They also don't risk losing money at the end of the season when the owners and players do their split. So it seems Mr. Avery will be doing very well in Hartford, at least financially.
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