Union: ‘25% Off! Everything Must Go’

So the Players’ Association released their latest offer to the owners. It seems pretty crazy to me. They’re starting with 24% salary reductions across the board, which is a lot. I don’t see how the owners can turn that down. I mean, department stores rarely even knock that much off the price of anything.
Their plan also has an interesting point which I may not entirely understand. According to TSN, one of the NHLPA’s ideas includes:

    A revenue redistribution plan that will (a) transfer money from the high-revenue clubs to the low-revenue clubs; and (b) encourage low-revenue clubs to increase their own revenues. The redistribution will operate at the macroeconomic level to inhibit spending on players by the clubs that have formerly spent the most.

I’m wondering if this means low-revenue teams will be punished for not spending all of their money. That would really be great. It would force owners to field successful, competitive teams, since if they didn’t, they’d still be out the money anyway. But I could be misunderstanding all of this.