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NHL salary cap to increase by $1 million per team for 2023-24 season
TORONTO – NHL teams will operate with a salary cap of US$83.5 million in 2023-24, a modest increase of $1 million over this past season.
The NHL and NHL Players’ Association also announced a salary floor of $61.7 million for next season.
The numbers were determined after the NHL and NHLPA arrived at a salary midpoint of $72.6 million per team based on hockey-related revenue.
Wednesday’s announcement put to rest talk of a salary-cap increase for 2023-24 beyond the projected bump of $1 million.
Commissioner Gary Bettman had suggested earlier that a larger increase may be possible as players continue to pay owners back via escrow — the system that guarantees a 50/50 split of hockey-related revenue.
The NHL has had a hard salary cap since it was negotiated into the CBA that ended the 2004-05 lockout.
This report by The Canadian Press was first published June 28, 2023.
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