Sports

NHL, union yet to hit panic button

The NHL lockout has yet to reach the serious, hand-wringing stage, and it won’t until the sides lose things that matter.

The absence of negotiations is maddening in some circles, but there has been no reason yet for either side to bend, so there really is little to talk about.

The fear of a lost season is genuine, 2004-05 an undeniable example, but the concern is magnified because it was the last labor dispute.

Hockey has not yet reached any pivotal points, those that push negotiations. The players have yet to miss a paycheck, a situation which changes next month.

Owners are not yet feeling the full effect of empty buildings. It will be curious to see which side has built the best war chest.

No owner has yet had a top star come home from Europe with a career-threatening injury. Some of the “cattle,” as Red Wings vice president Jimmy Devellano characterized them, were bought at the cost of a couple of first-rounders and are livestock no owner wants to lose, especially not in someone else’s circus suit of a uniform.

Speaking of which, it would not a surprise to see the final collective bargaining agreement include provisions for advertising on uniforms and helmets as additional sources of revenue. It would be hard to swallow Canadiens’ or Leafs’ jerseys with the CH or Leaf overshadowed by auto logos, but the same hue-and-cry was heard when ads went up on the boards, and now they add to the color and scenery.

But when paychecks are missed, arenas remain dark and the injury list mounts, then we will see negotiations ramp up. Then they will talk about the elephant that won’t be in the Midtown room Friday, when the sides discuss side issues, but not the crucial players’ share of the pot.

mark.everson@nypost.com