Aaron Doster-USA TODAY Sports
As the NHL has tied its financial workings to fans’ everyday understanding of the game and its on-ice product, the monetary well-being of the league is always a topic for discussion. And as per a Sportsnet report, NHL business is as strong as it’s been in the modern age – and that means the salary cap ceiling is going to rise significantly.
Whether the cap ceiling goes up five percent next season – rising from its current $88-million ceiling to $92.5 million for 2025-26 – or if it rises per Sportsnet’s report by $7-to-$9-million to between $95-$97-million, many NHL players are going to see their salaries spike in a major way. And that’s going to result in even more compelling financial negotiations in the coming off-seasons.
Saturday Headlines
2025-26 Salary cap is scheduled to be approx $92.5M, but there are going to be conversations about taking it higherhttps://t.co/4YboZ01pbc— Elliotte Friedman (@FriedgeHNIC) November 17, 2024
This isn’t to say every NHLer is going to see a financial windfall – there will still be haves and have-nots in the league’s pay scale pyramid – as teams have factored in five-percent rises in their long-term budgets. But that potential extra $4-to-$5-million or more per year next season could be the difference between a team retaining its veteran talent and being forced to move on from them. Or that additional cap space could ratchet up the bidding war for players when they hit the open market as UFAs, and potentially, it could lead to more offer sheets than we anticipate from season to season.
Now, some NHL stars may not see that additional money come their way for a long time to come – those players who’ve signed seven or eight-year deals recently are locked in at a fixed rate for the foreseeable future – but if you’re a player who is fortunate enough to have your contract due for a re-up in the next one or two years, you’re likely to be a very happy camper in relatively short order. And while some NHL figures see this cap ceiling news as something not necessary to crow about, the reality is the game needs more good news like this.
With the cap news hitting the wire, suddenly a $12 million or more contract extension for star Rangers goalie Igor Shesterkin – or a similar contract for Toronto’s Mitch Marner – is far more palatable than it would be if the cap ceiling stayed in the high $80-million area or low $90-million area. There will still be cap crunches, of course, but this development is effectively a lifeline for NHL GMs who’ve already spent to the ceiling and are desperately seeking cap relief.
The more money the NHL brings in, the more cash that goes to players. In his recent interview with THN.com, NHL Players Association executive director Marty Walsh discussed the prospect of a $100-million per-season cap ceiling and the possibility of $ 1 billion going to players in the next decade. But if revenues continue to rise, that number could increase beyond $ 100 million per season. It’s a tantalizing possibility, but it’s one within range as the league looks at expansion and bringing in 46 player jobs with two new teams.
No matter how many teams the league will have any time soon, the rapidly rising cap ceiling is great news. Players will take home more money, teams will be more able to retain talent over the long haul, and all sides involved will be thrilled to see the business improve. And whether that cap ceiling jump happens right away, or is delayed a year or so, that increase in available funds is exactly what team owners and players hoped to see.
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