The NHLPA Executive Committee is expecting a result of a vote today on the proposal to increase the NHL salary cap by $2 million.
Report: NHL Salary Cap to Increase to $75 Million for 2017-18 Season
NHLPA’s Executive Board is voting on the $75 Upper Limit…approx 2.5% escalator…An announcement today is possible.
— John Shannon (@JSportsnet) June 16, 2017
The cap has increased dramatically since its inception at $39 million in 2005-06, increasing each year excluding the time period from 2011-14 due to the 2012-13 NHL lockout where it stayed at $64.3 million in both of the full length campaigns of 2011-12 and 2013-14. In 2013, the cap was at $60 million, but teams were allowed to spend $70.2 million in the condensed schedule.
The cap was reported to go up to $76 million and even $77 million, but hinged on the vote to decide on a monetary percentage increase. That number decreased as they settled on an increase of $2 million. According to Bob McKenzie, the number was never going to be a decline, only an increase.
NHLPA internal debate is whether to apply full 5% inflator or some lesser number than 5 but greater than zero. Virtually no chance it’s 0.
— Bob McKenzie (@TSNBobMcKenzie) June 11, 2017
This provides some sort of relief for teams up against the cap, especially the Chicago Blackhawks and Anaheim Ducks, the former currently sitting in the red at -$4,520,628 and the latter at $1,665,000 respectively.
Choosing the $75-million cap figure is not the full 5% growth factor. More like 1.5%. That likely shrinks escrow by a couple percent.
— James Mirtle (@mirtle) June 16, 2017
This would be the lowest salary cap increase from one season to the other since the summer of 2010 when the cap increased by just $100,000. The highest came in the summer of 2008, when the cap went up by $6.4 million from $50.3 to $56.7 million. This may affect how teams handle their various situations come next week’s expansion draft as well as Entry Draft. An extra cash boon could help others looking for a free agent acquisition as well as keeping restricted players.