NHL raises salary cap to upper limit of $88M for 2024-25 season

June 10, 2024 - 1:51am

Gary Bettman and Bill Daly speak to the media about the increase in salary cap next season, how it gives teams more flexibility moving forward, and predicts that they will continue to see 'robust growth' in the cap.

Get ready to see some teams spend their money this summer.

The NHL is set to see a substantial increase to their salary cap this season, with the upper limit set to be increased to $88 million for the upcoming 2024-25 season, the NHL and PHLPA announced on Saturday.

Set at $83.5 million last season, the $4.5 million bump is a 5.4 per cent increase, the largest the league has seen since the 2018-19 season when it increased 6.0 per cent.

The lower limit is set at $65.0 million and the midpoint is at $76.5 million.

This increase marks a big change from last year's jump, when the cap raised just $1 million, a 1.21 per cent raise.

The NHL's free agent market is set to open up at noon on July 1, with teams getting a chance to put that extra $4.5 million to use.

MORE FROM SPORTSNET

COMMENTS

When submitting content, please abide by our submission guidelines, and avoid posting profanity, personal attacks or harassment. Should you violate our submissions guidelines, we reserve the right to remove your comments and block your account. Sportsnet reserves the right to close a story’s comment section at any time.