NHL Raises Its Salary Cap by $25.5 Million Over Next 3 Seasons

The NHL and NHLPA announced incremental increases to team payroll Friday from $88 million this season to $113.5 million in 2027–2028.

Doing quick math: the increase is $25.5 million per team, and the NHL has 32 teams, meaning $816 million more annually can go into players’ pockets starting in three years.

Where is all that money coming from?

For one, the league has fully recovered from financial hits it took during the COVID-19 pandemic. The NHL is also coming off what commissioner Gary Bettman called the “most successful” season the league has ever had in 2023–2024, led by record attendance and high viewership. The league is anticipating a new national media-rights deal in Canada after its current one expires in 2026, and Amazon Prime Video has recently signed off on more and more deals to stream games.

Here’s a breakdown of the NHL’s team salary cap over the next few seasons:

• 2024–2025: $88 million
  
• 2025–2026: $95.5 million
  
• 2026–2027: $104 million
  
• 2027–2028: $113.5 million

That’s a 29% increase in salary cap over three years. It’s a big step for the league, whose salary cap has only inched forward in recent years. The payroll minimums will now sit at $70.6 million in 2025–2026, $76.9 million in 2026–2027, and $83.9 million in 2027–2028. Minor changes can still be made to the upper and lower limits.

The current collective bargaining agreement between the two sides expires in September 2026. Bettman’s target goal for a new deal is by the Stanley Cup Final in June.

In comparison to other major men’s leagues, the NHL is still playing catchup. The NBA has a salary cap of $140.5 million in 2024–2025. The NFL has a cap maximum of $275 million in 2025, according to Spotrac. Though not a salary cap, MLB’s luxury-tax threshold in 2025 will start at $241 million.