NEW YORK (CNN/Money) - With next year's season expected to be put on ice, the National Hockey League entered a broadcast agreement with NBC where the struggling league won't receive any money upfront, according to published reports.

The two-year deal between the NHL and NBC calls for a revenue-sharing arrangement, similar to the one the network has with the Arena Football League, and an additional two-year option, the New York Times reported.

But the caveat to the deal is that the NHL will not receive any upfront fees that are common with most network contracts, according to the Times.

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If a labor action disrupts the league, as widely expected, the agreement will roll over to when the NHL resumes play, according to the newspaper.

For NBC, the GE (GE: Research, Estimates) unit lands a major sport after it passed up deals for the National Basketball Association and the National Football League.

But TV ratings for hockey have been slumping, as viewership has declined by 1.4 million viewers since 2000, according to the newspaper.

The NHL's current five-year deal with ABC expires after this season and has paid the league about $600 million, according to the Times.