When the National Hockey League ended its 2004-05 lockout, the main outcomes of the new collective bargaining agreement were tying league revenues to player salaries and the implementation of a hard salary cap. The resolution brought cost certainty to the league’s owners, but other tweaks within the agreement lowered entry-level salaries and provided players earlier paths to unrestricted free agency.



The tweaks had a major impact on the college game, as all of a sudden it was relatively inexpensive for clubs to sign their college prospects to give them a run as professionals. The maximum NHL signing bonus dropped from $725,000 down to $87,500. Players saw contracts showing maximum NHL salaries and bonuses of $850,000, while the clubs saw maximum minor-league compensation of only $62,500.



The new CBA also motivated NHL organizations to assess their prospects sooner than ever before because, by the final years of the agreement, unrestricted free agency for all...