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NHL salary cap gets $1M boost to $82.5M for 2022-23

Sportsnaut
Feb 4, 2022; Las Vegas, Nevada, USA; NHL commissioner Gary Bettman speaks with media prior to the 2022 NHL All-Star Game Skills Competition at T-Mobile Arena. Mandatory Credit: Stephen R. Sylvanie-USA TODAY Sports
Credit: Stephen R. Sylvanie-USA TODAY Sports

The NHL salary cap will go up for the first time in three years, getting a $1 million boost to $82.5 million for the 2022-23 season.

General managers were informed of the increase Tuesday at the league’s GM meetings in Manalapan, Fla. The meetings are usually done annually but hadn’t been held since March 2020 due to the COVID-19 pandemic.

The NHL had held firm to a cap of $81.5 million through the pandemic due to lost revenues. The cap was last increased by $2 million ahead of the 2019-20 season.

Also Tuesday, the NHL said $1 billion debt held by the players will be repaid to owners by the end of the 2024-25 season, allowing for a significant increase to the cap in 2025-26.

The league took out a $1 billion loan in January 2021 to be split among the teams in the event of cash-flow problems caused by the pandemic.

–Field Level Media