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Sunday, July 14, 2024

NHL’s Salary Cap Rises for First Time in Three Years

  • The cap increase represents a $1 million uptick compared to the 2021-22 season.
  • For the 2022-23 season, the salary floor for each team will be $61 million.
Sergei Belski-USA TODAY Sports

The NHL Salary Cap for the 2022-23 season will be set at $82.5 million, marking the first increase in three years. 

Confirmed by the NHL and NHL Players’ Association, the increase for next season follows unfavorable profits for the league and its teams due to pandemic-related restrictions. 

  • The cap increase represents a $1 million uptick compared to the 2021-22 season.
  • For the 2022-23 season, the salary floor for each team will be $61 million.
  • Starting with the 2023-24 season, the cap could increase by $2 million per year based on hockey-related revenue

The increase comes as commissioner Gary Bettman claims the league is set to generate record revenue this season, bringing in at least $5.2 billion. During the 2018-19 season — the NHL’s last season with a full slate of games — revenue reached $4.6 billion.

Bettman has attributed the record revenue to more scoring, leading to a boost in TV ratings. 

Through the first three rounds of the Stanley Cup Playoffs, the games broadcast on ESPN and ESPN2 have averaged 1.2 million viewers, up 30% compared to the same period last year.

All Eyes on Hockey 

The NHL is benefiting from a pricey media rights deal with ESPN and Turners Sports. After a 16-year run on NBC Sports Network and other Comcast-owned channels, ESPN secured a seven-year deal with the NHL in March 2021, which pays the league $400 million annually.

A month later, Turner Sports acquired the “B” programming package for $225 million.

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