Former Sharks CEO Greg Jamison, the main suitor for the Coyotes, cannot produce the capital needed to purchase the team from the NHL and as a result a Jan. 31 deadline to maintain a critical lease agreement with the City of Glendale will pass without a deal being completed, multiple sources have told ESPN.com.

The NHL and NHL Players' Association have set this season's escrow rate at 10 percent, both sides confirmed to ESPN.com on Thursday.

That means players will fork over 10 percent of every paycheck into an escrow fund until both the league and NHLPA figure out the final numbers next summer or next fall in terms of hockey related revenue.

The NHL and the NHLPA have reached an agreement to allow teams an accelerated compliance buyout on players such as Canadiens center Scott Gomez and defenseman Wade Redden of the Rangers, a source confirmed to ESPNNewYork.com.

Nearly one week after a tentative deal was agreed to by the NHL and its players, the labor sides agreed to a required memorandum of understanding on Saturday night that truly makes the lockout a thing of the past.

Training camps will open on Sunday, and a 48-game regular season will begin next Saturday. 

NHL players are ready to go back to work, but the lockout isn't over yet, according to an ESPN.com report.

After a 36-hour vote that ended Saturday morning, the union announced that its members approved the deal reached with the league last week.

However, the sides continued to work to complete a difficult memo of understanding that must be signed before camps can open and the new schedule to be released.

NHL players will have 36 hours from Thursday night until Saturday morning to vote on the new labor deal that would end the four-month lockout.

The NHLPA announced that electronic voting will begin at 8 p.m. Thursday ET and will last until 8 a.m. Saturday. The union said it will announce the result after voting is finished.

The board of governors has ratified the tentative agreement between the NHL and NHLPA, a source confirmed to ESPN.com's Pierre LeBrun.

The 30 governors on hand for the league's meeting voted unanimously to pass, a source told LeBrun, completing one half of ratification.

Now, all that is needed for the deal to become official is for the players to vote.

A tentative agreement has been reached between the NHL and the players' association, according to an ESPN.com report.

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 CBA.

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 NHL and NHLPA appear to be inching closer to a deal, according to an ESPN.com report.

The two sides are meeting face to face, along with a federal mediator, for the first time since Thursday and are trying to hash out the remaining issues to reach a new collective bargaining agreement. 

If a deal gets done, the NHL has 50-game or 48-game schedules drawn up.

The NHL and the NHLPA got back to work Friday, just not with each other, according to an ESPN.com report

Both sides had plans to meet separately with federal mediator Scot Beckenbaugh in the morning but hadn't set up a time to return to bargaining in an effort to save the season.

NHL commissioner Gary Bettman set a Jan. 11 deadline for a deal so the season can begin eight days later.