I still don't understand how big long term contracts can be handed out, they are approved, and now they do not want to be honored?
Yes I can understand they things are started to get out of hand, but the owners did it to themselves...
I think it would be best for both sides for honor all previous agreements, aka have them grandfathered in, but make it clear that this will not happen in the future...
With the formation of the KHL and other leagues in Europe, it does put some pressure on the NHL and owners to some degree.