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Deal includes salary cap of 54 percent of revenue

Updated: July 8, 2005, 11:05 PM ET
Associated Press

LOS ANGELES -- The NHL and the players' association are closing in on a new collective bargaining agreement, but both sides denied a report Thursday that a deal had been reached.

The Los Angeles Times reported that the sides had completed negotiations to end the lockout that wiped out all of last season. But the league and the union said that is premature.

"The report is inaccurate," players' association spokesman Jonathan Weatherdon said.

The league and the union have ...

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