So by these comments its clear your not a supporter revenue sharing. What do you propose; retraction? Survival of the fittest (which also ='s retraction)?
Personally, my first thought is retraction, certainly relocating back to Quebec and adding a team in Toronto. I personally do not buy that American TV deals need certain markets, as they know they are not watching anyway! So why not move. But does the league also take in to account government subsidies before also doling out revenue sharing? I doubt it, or the local governments would not pony up. But American teams currently, I understand (?) get items like parking and food concessions, even free leases to attract teams to markets. So there are a lot of complicated issues.
But the real issue is that the union is made up of more players representing southern U.S. teams, similarly ownership votes, than Canadian teams. A rich owner has more clout than a poor one, but players like Jovanovski (or Erhoff) are plenty happy smaller U.S. markets have revenue sharing money to spend.
So I see two solutions;
Retraction? (which I don't see happening, maybe a move when another arena is ready in Toronto)Luxury tax!
Similar to the way baseball used to do it (may still, I'm overseas and don't know current status). You have a cap, but your allowed to break it. An amount equal to your overspend goes to revenue sharing.
And economic conditions when the Canadian dollar bought 0.60 cents U.S. ten years ago
A rollback would mean every player takes the same percentage cut in pay say 24% so it would not result in players being sent to the minors.
The problem isn't the salaries. The problem is a system where poor hockey markets are subsidized by fans and owners of strong markets in order to bring parity to the league. This is how you end up with teams in cities who can't spell "hockey" surviving (not flourishing) and actually having a chance to compete for the cup. The system also rewards owners that spend the minimum and have no intention of icing a winning team, only one that can compete some nights.
Bottom line, no dynasties, and a watered down product pandering to the non-hockey fans in the southern states. Avid fans may never see their team win the cup while movie stars and coutnry singers who only show up during the playoffs for the photo opportunities will.
All in the name of profits for the owners.