Commissioner Gary Bettman said that there is a chance the NHL salary cap will increase next season. It is due to the league’s revenues exceeding expectations this season. Thus, teams can expect the salary cap to increase by $1 million to $83.5 million. Also, there is a chance it could go up more based on various factors.
Bettman announced the prediction during the last day of the NHL GM meetings. Several sports news outlets report that the salary cap can rise by around $4.5 million if league revenue exceeds expectations for the remainder of the season. Therefore, all players’ escrow debts will be paid to owners.
The NHL needs to exceed its hockey-related revenues projections by around $100 million for the debt to be fully repaid this year. In December, Bettman said that the estimated HRR needs to exceed $140 million to $150 million for the debt to be repaid.
NHL Salary Cap
The ceiling will increase by almost $88 million in 2024-25 if the debt is not paid off this season. Also, the salsary cap remained at $81.5 million for three years. However, the league increased it to $82.5 million for the current year.
Bettman, though, would not rule out the prospect of an NHL and NHL Players’ Association agreement to raise the limit for next season. It will depend on the CBA negotiations between the two parties.
However, the NHL would have to increase the 6 percent escrow rates the players needed to pay in the remaining three years of the NHL/NHLPA CBA.
From 2020-21, the wage cap has been considered stable since players have repaid the roughly $1.5 billion escrow debt they accumulated in 2019-20. According to preferred sportsbooks, it was when the NHL suspended the season due to the coronavirus outbreak.
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