• Loading stock data...
Thursday, September 18, 2025

NHL’s Projected Record Cap Reflects Revenue Surge (and Resilience)

  • Increased media revenue, rising attendance fuel post-pandemic recovery.
  • Escrow used in recent seasons due to end.
NHL-Gary-Bettman
Sergei Belski-USA TODAY Sports

The NHL’s financial outlook is rapidly improving, the latest evidence being the growth of its salary cap.

The league’s 2024-25 cap is projected to reach a new record of $87.7 million, up $4.2 million from the current level of $83.5 million and the largest year-over-year increase since the 2019-20 season.

Expected for months, the growth shows more precisely how the NHL has rebounded from the economic impact of the pandemic. In the early days of the global public health crisis, the league and the NHL Players Association reached a new labor deal that kept the salary cap at its 2019 level of $81.5 million until 2022. It then went up by $1 million, then by another $1 million earlier this year. 

But the NHL is now in the third year of domestic media rights deals with ESPN and Warner Bros. Discovery Sports, which bring in roughly $625 million per year. Attendance reached a league-record 22.4 million in the 2022-23 season, and commissioner Gary Bettman’s bullish projections of further growth this season are gaining early support, with 25 of 32 teams showing increases at the gate.

And despite continued concern about crucial revenues from local media rights, teams forging their own path, like Arizona, are finding some early success, with ratings for early-season Coyotes games rising 900% due to increased reach.

At the NHL Board of Governors meetings this week, Bettman is expected to confirm that players’ debt to owners from pandemic-related losses has now been fully paid off, in turn eliminating an escrow used in recent seasons.

“The game is in great shape,” Bettman said at the last BOG meeting, in October. “Our franchises have never been better owned or stronger. … Vital signs are good.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Maria Taylor

Maria Taylor Talks About ‘Moving Differently’ in ESPN-NBC Jump

Taylor will be NBC Sports’ lead NBA and WNBA studio host.

Manfred Says New MLB Rights Deal ‘Replicated’ Money From ESPN Opt-Out

Rob Manfred spoke at the Front Office Sports Tuned In summit.
Dec 25, 2024; Pittsburgh, Pennsylvania, USA; Netflix Christmas GameDay cake seen after the Kansas City Chiefs defeated the Pittsburgh Steelers at Acrisure Stadium.

‘We Didn’t Get a Test Run’: Greg Olsen on Netflix NFL Christmas..

Greg Olsen said the game was uncharted territory for him.

Featured Today

Premier Lacrosse League

‘The Circus Is Coming to Town’: Why Upstart Leagues Start on Tour

In their ambitious plans, a traveling schedule is only temporary.
PHILADELPHIA, PENNSYLVANIA - APRIL 19: A detailed view of the MLB Debut patch on the jersey of Patrick Monteverde #44 of the Miami Marlins prior to game against the Philadelphia Phillies at Citizens Bank Park on April 19, 2025 in Philadelphia, Pennsylvania.
September 13, 2025

The Tiny Jersey Patch at the Center of the MLB Rookie Card..

Autographed cards containing a piece of baseball history have upended the market.
September 11, 2025

Eagles-Chiefs Super Bowl Rematch Could Set More NFL Ratings Records

Fox will nationally televise Sunday afternoon’s matchup.
September 10, 2025

ESPN’s ‘MNF’ Ratings Up 8% As NFL Surges to Strong Start

ESPN posts its second-best Week 1 “Monday Night Football” audience.
Sep 14, 2025; Bridgeview, Illinois, USA; Portland Thorns FC midfielder Olivia Moultrie (13) kicks the ball past Chicago Stars FC defender Sam Staab (3) during the second half of a match at SeatGeek Stadium.
September 16, 2025

NWSL Beefs Up Media Deal With More CBS, ESPN, Adds Victory+

The NWSL has been locked into its existing deal since last year.
September 16, 2025

Adam Silver Walks Back Claim He’d Never Heard of Aspiration

Adam Silver spoke at the Front Office Sports Tuned In summit.
Sponsored

How World Series Champ Dexter Fowler Became a Premier League Team Owner

Dexter Fowler discusses navigating retirement and embracing new roles as an owner & investor.
Sep 14, 2025; Las Vegas, Nevada, USA; Las Vegas Aces guard Jewell Loyd (24) gestures to a teammate after scoring against the Seattle Storm in the first quarter during game one of round one for the 2025 WNBA Playoffs at Michelob Ultra Arena.
September 15, 2025

Aces Surge From Collapse to Contention With Dynasty at Stake

The turnaround started after a 53-point loss to the Minnesota Lynx.
September 15, 2025

Tush Push Debate Heats Up in Eagles Win, Ex-NFL Rules Chief Sounds..

The Eagles are continuing to run the quarterback-sneak play.
September 14, 2025

Most NFL Home Teams Opt to Honor Charlie Kirk Before Games

Several NFL teams playing at home on Sunday recognized the late activist. Some did not.
September 14, 2025

Crawford-Alvarez Bout Draws Biggest Crowd in Vegas Boxing History

Record attendance, a big gate, and growing ambitions mark the high-profile bout.