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.
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.
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.
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.