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BREAKING 
The NHL and its players' association have agreed to withdraw their participation in the 2022 Beijing Olympics as COVID-19 runs rampant across the league, according to Chris Johnston of the Toronto Star.
The two sides are in the process are finalizing the decision with the International Olympic Committee, Johnston adds. An official announcement is expected soon.
The league had until Jan. 10 to opt out without facing any financial penalty.
The NHL initially committed to allowing players to go to the Olympics as part of a new collective bargaining agreement signed during the summer of 2020. In September, the league struck an agreement with the NHLPA, IIHF, and IOC to return to the Games after sitting out the 2018 event. The deal included an opt-out clause contingent on the regular-season schedule proceeding without any COVID-19 disruptions.
As cases across the league began to spike earlier this month, commissioner Gary Bettman said the decision to participate in the Games will be up to the players. The NHL's COVID situation has worsened drastically since then, as several teams have been shut down through the holidays and cross-border matchups are temporarily on hold.
Bettman previously stated a number of players had expressed concerns about the quarantine rules in Beijing. Chinese authorities also required any player who tested positive at the event to undergo a three-to-five week quarantine period in China.
A best-on-best hockey tournament hasn't occurred since the 2016 World Cup.

The NHL and its players' association have agreed to withdraw their participation in the 2022 Beijing Olympics as COVID-19 runs rampant across the league, according to Chris Johnston of the Toronto Star.
The two sides are in the process are finalizing the decision with the International Olympic Committee, Johnston adds. An official announcement is expected soon.
The league had until Jan. 10 to opt out without facing any financial penalty.
The NHL initially committed to allowing players to go to the Olympics as part of a new collective bargaining agreement signed during the summer of 2020. In September, the league struck an agreement with the NHLPA, IIHF, and IOC to return to the Games after sitting out the 2018 event. The deal included an opt-out clause contingent on the regular-season schedule proceeding without any COVID-19 disruptions.
As cases across the league began to spike earlier this month, commissioner Gary Bettman said the decision to participate in the Games will be up to the players. The NHL's COVID situation has worsened drastically since then, as several teams have been shut down through the holidays and cross-border matchups are temporarily on hold.
Bettman previously stated a number of players had expressed concerns about the quarantine rules in Beijing. Chinese authorities also required any player who tested positive at the event to undergo a three-to-five week quarantine period in China.
A best-on-best hockey tournament hasn't occurred since the 2016 World Cup.