The NHLPA will say no thanks to the NHL's offer to extend the current collective bargaining agreement in exchange for NHL player participation at the 2018 Olympics, reports TSN's Darren Dreger.

NHLPA executive director Don Fehr is expected to reject the informal proposal next Wednesday, ahead of December's meeting of the NHL Board of Governors.

The CBA expires in 2022, with an opt-out clause for 2020, which must be triggered the year prior. The NHL can opt out of the CBA at that time, but should it choose not to do so, that right then goes to the players' association.

It's believed that escrow payments remain a major sticking point from the players standpoint ahead of the next round of CBA negotiations.

Should the NHL forgo the 2018 Games, that won't stop Washington Capitals star Alex Ovechkin, who has said he will go to Pyeongchang, even without the participation or permission of the NHL.