NEW YORK -- A tentative agreement has been reached between the National Hockey League and the National Hockey League Players' Association.

NHL commissioner Gary Bettman and NHLPA executive director Donald Fehr stood side by side in the early hours of Sunday morning to announce there was a framework in place for a new collective bargaining agreement.

Although the deal still requires language clarification, legal fine-tuning and ratification from both sides, a verbal agreement has been reached on the major points.

"We still have a lot of work to do," Bettman said, "but it's good to be at this point."

The deal still requires majority approval from both the board of governors -- as early as Tuesday -- and the NHLPA membership before it can become official.

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