The National Hockey League has already canceled its preseason and is expected to begin postponing regular season games soon. The two sides are still very far apart.
The NHL wants the players to take an 8% paycut in Year 1 of a new collective bargaining agreement, and even less is subsequent years. The players are willing to let their share of overall revenues diminish, but not immediately.
The dispute is obviously a lot more complicated and if you’re interested in a detailed explanation of both sides’ demands, this article from James Mirtle in the Globe and Mail is the best we’ve seen.