What is an entry level contract?

Answer 1

Generally, when a young player from junior, college, or Europe is drafted and signed, or signed as a free agent, he has to sign an entry level contract with his team. That contract is usually for a period of three years and cannot be more than a maximum amount as mandated by the collective bargaining agreement. There is also a certain amount of bonus money set out by the CBA as well. So, while it is possible for a young player to earn several millions of dollars in salary and bonuses, the actual amount is restricted to a maximum finite number. For actual money amounts , I suggest you check a good hockey website like that of the Hockey News or that of the NHL or the NHLPA.