As the National Hockey League (NHL) predicted, league teams will get a $1 million salary cap increase in 2022-23.
Commissioner Gary Bettman confirmed the news Friday, during the second day of NHL Board of Governors discussions. The cap will thus increase from 81.5 to 82.5 million $, while the “era of the salary cap” will continue.
Bettman said he expects league revenue to reach $5.2 billion for the 2021-22 season, which would be higher than pre-pandemic predictions.
In three seasons, we could thus predict a significant increase in the salary cap after years of lean cows. Since the league lost money due to the two campaigns being cut short by the pandemic, players had to contribute more financially.
It is therefore expected that the hockey players will have finished repaying their debts to the owners by the end of 2023-2024.
“The reason for all this time required; in discussions with the Players Association, we did not want – and they also did not want – us to increase too much [le plafond salarial] in just one time. We got there gradually,” Bettman told reporters.
“The trust amount [“escrow”] was 20% last year, this year 17.1%,” added Bettman, who predicts between 6 and 10 percent of player salaries will go to the NHL in 2022-23.
The trust amount is like the fund that athletes have to invest in when the league is in trouble. With the pandemic which seems to be coming to an end and the return of spectators to the amphitheatres, the commissioner is more optimistic about the finances of his circuit.
Forbes magazine, which released market values for NHL franchises this week, predicted the league would earn $4.8 billion in revenue this season. These would then increase by $200 million each year until 2025-2026.