Mike Gillis said in a conference call with news media Sunday afternoon that he has not yet seen the details of the agreement, but " for us, I think it's great news."
Gillis also thanked the team's fans, saying "we need to show them we're committed to trying to win a Stanley Cup, we respect and admire their loyalty."
The announcement that the player's association and the league had agreed on a framework for a tentative deal in the 113-day lockout came early Sunday morning.
Details of what would be a new collective bargaining agreement were not released.
"We've got to dot a lot of i's and cross a lot of t's. There's still a lot of work to be done but the basic framework of the deal has been agreed upon," NHL commissioner Gary Bettman told a news conference.
According to reports, the new CBA will run for 10 years, through 2021-22, with an option to terminate the deal after eight years.
There's no word yet on when ratification votes by the 30-member NHL Board of Governors or the players will occur, but it looks like it all could happen within a few days.
Reports Sunday suggested, if the deal is ratified, training camps could commence on Wednesday at the earliest, and Saturday at the latest.
The reports also suggested the season could start Jan. 15 at the earliest and Jan. 19 at the latest. It has also been reported the Stanley Cup playoffs would end in late June.