NHL Salary Cap Set for Record-Breaking Jump by 2028-29: Now What?

The NHL salary cap is set for a record-breaking $14 million jump, according to Sportsnet insider Elliotte Friedman. Noting that the cap is now estimated to jump from $104 million this season to $113.5 million in 2027-2028, projections are that it will skyrocket to $127.5 million in 2028-2029. That’s a $23 million increase in just three years.

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“The NHL gave its first estimate for the 2028-29 salary cap at this week’s Board of Governors meeting, and according to multiple sources, it’s a whopper,” he writes. He added, “The league and NHLPA are in the second of a three-season agreement that sent to the ceiling to record levels. This year’s number is $104 million and next year’s is $113.5 million.” Because they don’t know what that first jump will be coming out of the current deal, expectations are that it could really jump.

“NHL commissioner Gary Bettman said revenue projections for this coming season are approximately $8.1 billion in mixed currency, obviously a key factor in the rising total,” explains Friedman. That means, if the 2028-29 guesstimate holds, the next run of salary cap projections could be much higher than people anticipated.

What Does This Mean for the NHL?

This is good news and bad news. For small-market teams that don’t spend to the salary cap, this is a big problem. Some have a hard time even getting to the salary cap floor, which will also rise as a result of these projections. But for big market teams, it’s just more room to sign players.

For teams like Anaheim, San Jose, and Colorado, it gives them a bit of a breather after signing big deals with Leo Carlsson, Macklin Celebrini, and Cale Makar. For a team like the Edmonton Oilers, it will give them a chance to lock Connor McDavid into a new deal without having to ask him to take another team-friendly deal. His contract is up at the end of the 2027-28 season. If he waits to sign just before that season, he could make as much as $25 million per season. That’s double what he’s currently making.

This also means teams won’t be afraid to keep signing big-money deals like the ones that went out the door this summer. Salaries for young RFAs are only going to keep increasing, and the money being handed out to franchise stars could be astronomical by NHL standards.

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