After months of ugly negotiations, it looks like the NHL and NHLPA have come to an agreement that will get everyone back on the ice.

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According to ESPN, NHL commissioner Gary Bettman, and NHLPA executive director Donald Fehr stood together early Sunday morning to make the big announcement.

The deal is a reported 10 year deal, with a mutual opt out for both sides after eight years. The first year of the deal sets the NHL salary cap at $60 million. For the 2013/2014 season the salary cap will be raised to $64 million. Complete deal breakdown here.

While both sides have a verbal agreement, there is still a lot of work to do to make it official. The 2012/2013 NHL lockout lasted a total of 113 days, and 510 days have been missed. The Stanley Cup playoffs are expected to stretch into late June to make up for the lost time.