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NHL salary cap goes up to $69 million from $64.3 million after year of record revenues

Friday, 06.27.2014 / 5:25 PM / News

The Canadian Press

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NHL salary cap goes up to $69 million from $64.3 million after year of record revenues

NEW YORK, N.Y. - The NHL and the NHL Players' Association say the salary cap for the 2014-15 season is going up to $69 million after a year of record revenues.

In a joint announcement Friday before the NHL draft, the sides said the cap is rising from the $64.3 million upper limit that teams operated on during the just-completed season. As stipulated in the collective bargaining agreement between the league and the players, clubs must maintain a minimum payroll of $51 million.

NHL Commissioner Gary Bettman said Thursday, following a meeting of the league's board of governors, he hoped to have the cap set before the start of the two-day draft Friday. Now clubs know the salary parameters they have to work with entering the free-agent signing period that begins Tuesday.

Quote of the Day

Your team is going to want to recapture the feeling. What they're going to have to figure out is they're going to have to rewrite the story. Because you're going to rewrite the story doesn't mean you want a different end. It's just that you're going to have to learn that there's different challenges to get there, and if you're going to try and tap the same feeling, it ain't going to happen.

— Los Angeles Kings general manager Dean Lombardi on maintaining their success from last season