NHL and Gary Bettman Geared to Make Significant Change to Salary Cap Beginning Next Season, Per Insider
Insider Elliotte Friedman reported on Saturday's Headlines that the entire league may receive a major boost from the NHL in the form of a higher salary cap next year.
Next year's cap is currently projected to be set at $92.5M, already a significant increase from the current $88M. However, Elliotte Friedman is reporting that the cap could jump even higher, potentially all the way to $97M by the beginning of next season.
Friedman explained that the current NHL collective bargaining agreement was created during the pandemic with concerns about the financial future of the league, but revenues have boomed since then. The league now has room to allow more spending from their teams, which will be great for every single team.
With more cap space, teams will have an easier time retaining their players becoming free agents, and gain more space to sign new players. Existing players already signed to good value contracts will become even more positive assets.
The downside will be the fact that players actually make their salary demands often by using salary cap percentage. When players like Connor McDavid come up for a contract, their salary demands can now reasonably be much higher.
The Oilers will have several major contracts upcoming with Connor McDavid, Evan Bouchard, and Stuart Skinner - and it's critical they can get them on positive value contracts.
However, every single NHL team will be welcoming this news that their team will be able to spend more money to improve the roster beginning next season. More than ever, salary cap management is becoming a critical key to success in the NHL. Hopefully, raising the cap turns out to be a great move for the league.
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