It keeps getting worse for the National Hockey League. Yesterday, executive vice-president Bill Daly announced the cancellation of June’s NHL’s Entry Draft, completing a trifecta of marquee league events that won’t see the light of day in 2005. Given the relative importance of the All-Star Game and Stanley Cup Finals, the cancellation of the draft wouldn’t be such a big deal in any other year. This year is different, however, because the NHL’s best prospect in 20 years is dying to play in the big leagues.

Sidney Crosby recently completed his second season for the Rimouski Oceanic of the Quebec Major Junior Hockey League (QMJHL), leading his team to a record-setting 32-game unbeaten streak while finishing atop the league’s scoring charts for a second consecutive year. He ended the year with 168 points in just 62 games, and became the third player in QMJHL history to win the scoring crown by more than 50 points. The others to accomplish this amazing feat were Guy Lafleur in 1970-71 and Mario Lemieux in 1983-84.

Crosby has been compared to Wayne Gretzky numerous times – most notably by “The Great One” himself – and all indications are that the youngster is prepared to take full advantage of his immense talents. He was absolutely sensational for Team Canada in January’s World Junior Championships, demonstrating that his game has a physical edge to accompany the unparalleled offensive skills. Last year’s no. 1 pick, Russian Alexander Ovechkin, made the mistake of skating into the Canadians’ zone with his head down. Crosby delivered a crushing body check, and Ovechkin spent the remainder of the game affixed to the bench while Team Canada skated to a gold medal victory.

Crosby recently signed a five-year, multi-million dollar endorsement deal with Reebok; that he was inked to this deal with the NHL’s future in such turmoil is a strong indication of just how special he is.

Unfortunately, it may be quite some time before the blue-chip prospect finally gets to don an NHL sweater, for the players and owners remain miles apart in their so-called negotiations.

Despite grumblings about constructing a new collective bargaining agreement in time to stage the June draft on schedule, it has become apparent that the owners intend to hold their hard-line stance until the players capitulate, a process that might include the utilization of replacement players next season.

“I’m not going to play in a replacement league,” Crosby told TSN. “With replacement players, it’s not the best league in the world – that’s the league that I dream of playing in, the NHL – with real NHL players.”

Of course, Crosby will still have numerous options available to him. He can return to Rimouski – an unlikely scenario – or he could play in Europe, but it seems more plausible for him to consider the recently resurrected World Hockey Association.

The WHA will open its doors on May 20th with the launch of the Bobby Hull Invitational Tournament, and a number of elite-level hockey players will be participating. Notable NHL stars Nicklas Lidstrom, Dany Heatley, Derian Hatcher, Shane Doan, Keith Primeau, Jeremy Roenick, and Jose Theodore have already signed on, and the list of 67 players is sure to grow.

The tournament will take place in Hamilton/Toronto and Vancouver from May 27th through June 2nd, and the players will be competing for $2 million in prize money.

With the NHL’s future in limbo, Reebok will be looking to get a strong return on its investment in Crosby. The NHL is rushing down the road to oblivion, and so the WHA is looking like Crosby’s best available option. Waiting for the NHL to fix itself would be a fool’s errand, and all indications are that Crosby is smart enough to see the writing on the wall.

It won’t be an easy decision for the youngster to make, as he has dreamed of playing in the NHL for his entire life. However, with Gary Bettman and NHLPA representative Bob Goodenow running the storied league into the ground, Crosby should be expected to act in his own (and Reebok’s) best interests.

Playing in the WHA seems the only right choice for the future star to make, and so the NHL’s loss will perhaps be the WHA’s biggest gain. If Bobby Hull and company get to build around Crosby, their upstart league’s chances of success increase exponentially.

That Crosby’s future is now more certain than either league’s provides perhaps the most telling commentary of all.

Mr. Greenstein is the editor of INSIDE HOCKEY (insidehockey.com).