NHL Raises Salary Cap to $88 Million for 2024-25 Season, $4.5 Million Increase, Salary Floor Set at $65M

Jun 8, 2024, 09:34 PM

The NHL and NHLPA have announced that the salary cap for the 2024-25 season will be set at $88 million, an increase from the $83.5 million cap for the 2023-24 season. This marks a $4.5 million increase and is slightly higher than the initially projected $87.7 million. The salary floor for the upcoming season will be $65 million, with a midpoint of $76.5 million. The Team Payroll Range for 2024-25 is set with a lower limit of $65 million, a midpoint of $76.5 million, and an upper limit of $88 million. This adjustment represents the first significant increase in the salary cap since the COVID-19 pandemic. The new cap is $300,000 more than the 5% increase stipulated in the CBA, requiring additional negotiations between the NHL and NHLPA.