Our economics are not baseball's economics. Our game is not baseball's game. Our owners are not baseball's owners, with one or two exceptions. Our union is not baseball's union. What we do has to be crafted and suited to address hockey, to address the NHL, to address our 30 teams and our 700-plus players.

My feeling is that contracts should always be honored. ... This is a situation where a legally binding contract is not being honored and that's not right.

Our economics are not baseball's economics. Our game is not baseball's game. Our owners are not baseball's owners, with one or two exceptions. Our union is not baseball's union. What we do has to be crafted and suited to address hockey, to address the NHL, to address our 30 teams and our 700-plus players.

This is a tragedy for the players. Their careers are short and this is money and opportunity they'll never get back.

The Canadian franchises and Canada as a market for NHL hockey has always been a priority for us.

My message to the kids and our fans is hockey's a great game. There's a lot of hockey being played at all levels. Get involved, do it. We will be back and we will be back better than ever and hopefully as soon as possible. Don't give up on the game. It's too good.

We profoundly regret the suffering this has caused our fans, our business partners and the thousands of people who depend on our industry for their livelihoods.