(PhatzRadio / USA Today) — The negotiation process between owners and players for a new collective bargaining agreement took on a more serious tone when owners presented an initial proposal that calls for players’ share of hockey-related revenue to drop from 57% to 46%.

USA TODAY has also confirmed that the league proposed that player contracts to be limited to five years, that salary arbitration be eliminated and that eligibility for unrestricted free agency be bumped up to 10 seasons. Currently, NHL players can qualify for unrestricted free agency after seven seasons.

The owners’ proposal also asks for a change in the entry-level contract system to accommodate five-year deals. Entry-level players currently get a maximum of three years.

Owners are also seeking some changes to the definition of hockey-related revenue that would ultimately mean less money for players.

With league revenues now topping $3 billion, a decrease of 11 percentage points would represent more than $300 million. Under the current system, the salary cap is determined based on league revenue, and players are guranteed to receive 57% and teams 43%. If player contracts exceed that percentage, players have to give back. If teams didn’t spend enough on players, the players would receive more, although that hasn’t happened.

The two-page proposal was presented during Friday’s negotiating session in Toronto, which had about 30 participants.

NHL Players Association spokesman Jonathan Weatherdon said the owners’ proposal will be discussed with players over the next few days, and the NHLPA’s response would be discussed in next Wednesday’s negotiating session.

Based on what happened in the NBA and NFL negotiations for a new CBA, it was anticipated that NHL owners would ask for a reduction of the players’ share of the revenue.

The current CBA expires Sept. 15. In 2004, the owners locked out players when no agreement was reached by the expiration of the contract. Eventually the entire 2004-05 season was canceled.

Traditionally, first proposals don’t come close to matching the final agreement, as was the case in both the NFL and NBA negotiations.