The NHL's salary cap has been on a continuous rise with revenues reaching unprecedented heights, and a new report suggests there's no sign of things slowing down.
The NHL is in new financial territory, and salaries are only going to get bigger.
According to a report from Sportsnet's Elliotte Friedman, the NHL has estimated that the salary cap during the 2028-29 season is projected to be $127.5 million USD.
The cap for every team entering this upcoming season is $104 million, which is already a major increase from the previous $95.5-million cap in 2025-26. In addition, the cap is projected to rise to $113.5 million in 2027-28.
If the 2028-29 projections come to fruition, it would end up being the largest increase over a single season in the salary cap era.
League commissioner Gary Bettman said revenue projections heading into the 2026-27 season are around $8.1 billion in mixed currency, which is a major reason why the salary cap is skyrocketing.
With the current rules under the collective bargaining agreement between the NHL and NHLPA, an individual player can earn a maximum of 20 percent of the total salary cap. That current maximum entering the 2026-27 season is $20.8 million, and would soar to $25.5 million under these projected figures in 2028-29.
Several high-profile NHL players are set to become free agents ahead of the 2028-29 season and would be eligible for major raises if these estimates hold, including Connor McDavid of the Edmonton Oilers, Auston Matthews of the Toronto Maple Leafs, and Zach Werenski of the Columbus Blue Jackets.
Many star players around the league signed big-ticket deals that neared the maximum annual salary this summer including Cale Makar of the Colorado Avalanche, Macklin Celebrini with the San Jose Sharks, and Leo Carlsson of the Anaheim Ducks, who will enter the 2026-27 season as the NHL's highest-paid player.
While those deals came with sticker shock for hockey fans adjusting to the new financial world of the NHL, salaries are only going to grow as revenue continues to increase.
For action-packed issues, access to the entire magazine archive and a free issue, subscribe to The Hockey News at THN.com/free.
See more of The Hockey News on Google and save us as a preferred source. Get the latest news and trending stories by subscribing to our newsletter here. And share your thoughts by commenting below the article on THN.com or creating your own post in our community forum.
