After being locked out for 113 days, the National Hockey League owners and player’s union has finally reached an agreement.

The two sides met for 16 consecutive hours and hashed out the terms of the new collective bargaining agreement. Details still need to be finalized, but the basic framework is there. The new deal will be for 10 years, with a mutual opt-out at 8 years. Players and owners will split revenue 50-50.

Once the agreement is ratified by a majority on both sides, the NHL season will begin. January 15^th or 19^th will be opening night, and depending on the start date, the season will consist of either 48 or 50 games.