The NHL salary cap is expected to rise to approximately $87.675 million for the 2024-25 season, the league announced at the Board of Governors meeting Monday.
The salary cap currently sits at $83.5 million for the 2023-24 season after a $1 million rise from 2022-23. The cap remained flat at $81.5 million for the three seasons before that.
During the 2019-20 season, when the season was paused because of the Covid-19 pandemic, the league incurred approximately $1.5 billion in escrow debt. With the debt expected to be paid off by next year, the cap will be able to increase more significantly.
The biggest single-season jump the cap has ever made is $4.5 million.
“The state of the league is very strong,” said NHL commissioner Gary Bettman at the Board of Governors meeting back in October. “The game is in great shape. Our franchises have never been better owned or stronger… Things are good. Vital signs are good. Revenues are growing. Everybody thinks the game is in great shape…”