(S (S (S (NP (BASENP (DT The) (NN majority)) (PP (IN of) (BASENP (NNP NHL) (NNS clubs)))) (VP (VBP have) (VP (VP (VBN lost) (BASENP (NN money))) (PP (IN over) (BASENP (DT the) (JJ last) (NN five) (NNS years)))))) (CC and) (S (PP (IN as) (BASENP (DT a) (NN result))) (S (BASENP (DT the) (NNS clubs)) (VP (VBD wanted) (S (VP (TO to) (VP (VP (VB cap) (BASENP (NN pay))) (PP (IN at) (BASENP (DT a) (VBN set) (NN amount)))))))))) (PERIOD .))