NHL Cancel Preseason as Lockout Continues

The National Hockey League’s (NHL) lockout is set to continue for the forseable future after the the first week of preseason games were cancelled on Wednesday.

The NHL, in the midst of its fourth work stoppage in 20 years, said in a statement that the preseason set to open on Sept. 23 is cancelled through Sept. 30, chopping 60 games off the schedule.

A league-wide lockout was imposed by the NHL on the weekend when the previous labor agreement expired with the owners and players at odds over how to divide a $3.3 billion revenue pie.

There have been no formal talks between NHL owners and the union representing its players since last Wednesday, leaving the scheduled Oct. 11 start of the 2012-13 season in doubt.

The work stoppage is the first in the NHL since a lockout wiped out the entire 2004-05 campaign, and the upcoming season could see the same fate as the two sides remain at a stalemate over key economic issues.

The NHL, which enjoyed record-breaking revenues last season, is looking to cut the players’ share in revenue while players are against taking an immediate, absolute salary reduction.

The cancellations come amid unconfirmed reports that the NHL will cut employee salaries by 20 percent and institute a four-day work week starting Oct. 1.

In the mean time players have flocked to European Leagues with no end to the lockout in sight.