NHL Announces New Salary Cap Rules; Sharks Must Spend To Hit Cap Floor
The NHL has just announced the 2024-25 salary cap rules, and the San Jose Sharks will need to spend money to reach the cap floor.
Darren Yamashita-USA TODAY Sports - NHL Announces New Salary Cap Rules; Sharks Must Spend To Hit Cap FloorThe NHL has just announced the 2024-25 salary cap rules, and the San Jose Sharks will need to spend money to reach the cap floor.
The salary cap has increased to $88 million, a significant jump from $83.5 million last season. The cap floor is $65 million, and according to CapFriendly, the Sharks have a projected cap hit of $50,479,167.
GM Mike Grier hasn't been shy about discussing what needs to happen this offseason regarding free agents.
"It's a balance for wanting to be more competitive [and also] take a step forward as a group and as an organization. In order to do that, we need to spend some money and get some players to do that and identify the right people," Grier said during his exit interview. "But it is also finding the balance of not getting too carried away or get too excited about how can I add this all-star and [possibly] overpay him."
The Sharks have already been linked to defenseman Sean Walker of the Colorado Avalanche.
The Sharks have 17 pending free agents, eight unrestricted and nine restricted. Some RFAs include Thomas Bordeleau, Ty Emberson, Luke Kunin, Calen Addison, and Henry Thrun.
Grier will have many roster decisions to make, but now there is a number—$65 million—to at least get to.
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