TORONTO – The NHL and the players’ association held small-group discussions for nine hours yesterday, again working on a review of revenue measurement and financial reporting issues.

The meetings in an attempt to negotiate a new collective bargaining agreement will continue with a larger group Thursday as the sides try to find common ground on team revenues and how to associate them to a salary cap.

Both sides have agreed that a salary cap model with an upper and lower limit will be the centerpiece of a new agreement, but have labored through the financial review in order to tie revenues to the moving cap figure. Yesterday’s session was the 17th meeting since the season was canceled February 16.

– Associated Press

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GIULIANI TO FORM NEW LEAGUE?

Former New York mayor Rudolph Giuliani could team up with Canadian diplomat Maurice Strong to form a new hockey league should the NHL and its players union fail to come to an agreement, the Toronto Star reported yesterday.

Giuliani’s consulting firm would help raise up to $5 billion to fund the new league, according to a business plan obtained by the newspaper and sent to possible Wall Street investors. The league would be known as the International Hockey Association.

– Staff Reporter of the Sun