The Premier Hockey Federation announced a landmark financial investment on Tuesday morning that will change the landscape of the league moving forward.
In a press statement released bright and early, the PHF revealed that the league's board of governors has approved a massive $25 million investment to go towards player salary and benefits that will be spread across the next three seasons, starting in 2022-23 with a reported $7.5 million infusion.
This new influx of cash will result in an expected salary cap increase, with the PHF salary cap set to rise from the $300,000 it is set at this season to $750,000 beginning next season, representing a 130 percent increase. Additionally, this investment will allow for the league to expand to a 28-game schedule.
This has been quite the year for the PHF.
Along with transitioning their brand away from the NWHL to the Premier Hockey Federation, the league has also agreed to an exclusive streaming deal with ESPN+, signed a multi-year contract with Upper Deck to produce the first-ever female hockey trading cards and NFTs, and come to terms with Warrior Hockey to make the brand their official equipment supplier.
And that's not even to mention the planned expansion into Montreal, with details surrounding the PHF's rumored new team to be announced at a later date.
With more money with which to work, the PHF can continue to build towards making a full-time career in professional hockey a reality for women, and may even perhaps succeed even in luring more of the biggest names in women's hockey to their league.