Read: How Donald Fehr and the Players Responded To The NHL’s Offer

At TSN, Bob McKenzie obtained a letter that Donald Fehr sent to the players and their agents last night following the NHL’s offer of a new CBA.

Fehr says, “The proposal does represent movement from their last negotiating position, but still represents very large, immediate and continuing concessions by players to owners, in salary and benefits (the Players’ Share) and in individual player contracting rules.”

In another excerpt, Fehr said “Simply put, the owners’ new proposal, while not quite as Draconian as their previous proposals, still represents enormous reductions in player salaries and individual contracting rights. As you will see, at the 5 per cent industry growth rate the owners predict, the salary reduction over six years exceeds $1.6 billion. What do the owners offer in return?”

Fehr says that the next few days will be spent trying to figure out if the NHL is serious about coming to terms on an agreement.

Brad Boyes said to Craig Custance at ESPN, “It’s a step in the right direction. There are still significant givebacks and concessions from the players in this new proposal but it is definitely their first serious offer.”