Earlier Sunday it was announced a tentative agreement has been reached between the NHL and NHLPA after a marathon 16-hour bargaining session in New York.
It took face to-face meetings with federal mediator Scot Beckenbaugh to finally bridge the gap on important issues such as pensions and the breakdown of the NHL's salary cap.
The new agreement will run until the end of the 2022 season with an opt-out after eight years.
Players will receive $300 million (US) in deferred “make-whole payments” in order to ease the transition to a 50-50 split of hockey-related-revenues.
The league will set a pro-rated salary cap of $70.2-million (US) for the shortened season before dropping to $64.3-million in 2013-14.
The new season is expected to run from between 48 and 52 games but no start date has yet been set.
While there are still some technicalities to be worked out, all that matters to fans is they'll be watching their favourite NHL stars for the rest of the winter.