The league and NHL Players' Association announced Friday that teams will be able to spend up to US$50.3 million on players next season.
This year's cap was set at $44 million.
The minimum teams will be forced to spend in 2007-08 is $34.3 million.
When the league and union returned from the lockout for the 2005-06 season, the first NHL salary cap was $39 million. Less than two years later, it has already grown by almost 29 per cent.
Adam Proteau fights for Daniel Alfredsson's hall of fame case, discusses the goaltending situation in Colorado and the future of Filip Forsberg in Nashville.
The Edmonton Oil Kings had a heartbreaking end to the Memorial Cup, with the Hamilton Bulldogs staying alive after a tough start to the tournament. Take a look at three of Tony Ferrari's standouts from the wild Friday contest.
It's another travel day, with the Tampa Bay Lightning holding off the Colorado Avalanche for an important Game 5 win to keep the season alive. Here's what the teams had to say on Saturday.
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