The National Hockey League Players' Association has ratified the new collective bargaining agreement reached between the League and the NHLPA last week.

While the players' vote ratifies the new CBA with the NHL owners, a written memorandum of understanding must be completed before finalizing the agreement.

The two sides continue to work towards the memorandum.

Once a memorandum of understanding between both sides is signed, training camps and team transactions can officially begin and the league will release its 48-game schedule which begins next Saturday.