The NHL has made a suit rental agreement with the NHL Players Association.
It is believed to be worth $4 million per team.
A contract could be signed later in the day.
The NHLPA confirmed the news via Twitter, with the tweet being sent at about 5:15 a.m.
ET.
The suit rental would be for five years, the player is expected to be paid $1 million per year and the remaining $500,000 will be paid over the life of the agreement.
That is the same amount of money that the players union is currently paying the NHLPA.
The NHLPA said in a statement to ESPN that the suit rental is a step in the right direction.
It said it would continue to work with the Players Association to address issues with its relationship with the union.
The deal was first reported by Sportsnet.ca.
The players union had previously said it had been in talks with the league about a suit agreement.
