PHILADELPHIA - The salary cap for the 2014-'15 NHL season has been set at US$69 million, lower than many big-budget teams had hoped.
The league and Players' Association announced the upper limit and $51-million floor Friday, a little over two hours before the start of the draft.
Original projections at December's board of governors meeting were in the neighbourhood of $71 million. But the value of the Canadian dollar was believed to lower that.
The 2013-'14 cap was $64.3 million and the floor was $44 million.