The NHL’s salary cap is reportedly projected to leap by more than $20 million from this season to the 2028-29 campaign.
According to Elliotte Friedman of Sportsnet, the NHL’s initial estimate for the 2028-29 salary cap ceiling provided this week at the Board of Governors meeting was $127.5 million.
That figure sits at $104 million for the 2026-27 season, and it is set to rise to $113.5 million in 2027-28.
If the projections hold true, the $14 million cap ceiling jump from 2027-28 to 2028-29 would be the largest year-over-year increase in NHL history, per Friedman.
The NHL salary cap has been on a steady incline for multiple years, which speaks to the league’s healthy financial situation.
According to Friedman, NHL commissioner Gary Bettman is projecting $8.1 billion in revenue for the upcoming 2026-27 campaign.
The continued rise of the cap comes as good news for teams who are looking to spend and win, and especially for those who already handed out historic contracts during the offseason.
The Colorado Avalanche signed defenseman Cal Makar to an eight-year, $163.2 million deal that will kick in next season and make Makar the highest-paid player in NHL history with an average annual value of $20.4 million.
Not far behind are San Jose Sharks forward Macklin Celebrini, who signed a five-year, $94 million contract ($18.8 million AAV), and forward Leo Carlsson, who landed a five-year, $90 million contract ($18 million AAV) from the Anaheim Ducks thanks to the restricted free-agent offer sheet he signed with the Philadelphia Flyers.
Contending teams in strong markets will benefit most from the rising cap since it gives them more space to land marquee players, but it should be a positive thing for all 32 NHL teams in terms of allowing them the financial flexibility they need to retain their homegrown talent.