The major problem here is that the NHL doesn't seem to be the kind of league that can operate under the NBA-like structure that has been in place since Gary Bettman became the commissioner. I seem to remember reading somewhere recently that two teams -- the Toronto Maple Leafs and Montreal Canadiens -- are worth more than the rest of the NHL combined. I don't see how this league can possibly continue to function with so many troubled franchises in places where there simply aren't enough fans to support a team.
Inevitably, the NHL will need to look at contraction. They are in major danger of starting to lose players to the KHL.