Gary Bettman officially increases the NHL salary cap more then expected
Photo credit: Sporting News
Commissioner Gary Bettman has officially increased the NHL salary cap and the number is more then what we expected.
The NHL and Commissioner Gary Bettman have announced that the salary cap for the 2024-25 season will be $88 million, which is $300,000 higher than expected.
During the NHL combine, Bettman and Deputy Commissioner Bill Daly held their annual press conference to reveal the new salary cap. Initially reported to be $87.7 million, the cap has been set at $88 million.
The official announcement stated:
NEW YORK/TORONTO (June 8, 2024) – The National Hockey League and the National Hockey League Players' Association announced today that the Team Payroll Range established for the 2024-25 League Year, pursuant to the Collective Bargaining Agreement, provides for a Lower Limit of $65.0 million, a Midpoint of $76.5 million and an Upper Limit of $88.0 million.
Hearing #NHL salary cap upper limit next season will be $88 million - a slight rise from the $87.7 million figure called for in the CBA's MOU.
Salary cap floor (or minimum to spend) will be $65 million.
Salary cap floor (or minimum to spend) will be $65 million.
This increase is significant, marking the first substantial raise since before the pandemic. Teams will now have some extra wiggle room this year!
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