The number came in about $300,000 higher than what was mandated in the NHL's collective bargaining agreement.
The Toronto Maple Leafs and the rest of the NHL will have an extra $300,000 to spend on players than they expected for the 2024-25 season.
The League and the NHLPA jointly announced a maximum salary cap of $88 million for the upcoming season, representing a bump of approximately 5.4 percent from the previous number in 2023-24.
The move is significant, as it represents the first sizeable jump in the NHL's salary cap since both sides agreed to a new collective bargaining agreement at the height of the COVID-19 pandemic. Since that time, the cap has stayed flat except for $1 million increments from $81.5 million to $82.5 and most recently, $83.5 million in 2023-24. The NHL cap couldn't increase by more than $1 million until the players fully paid off a debt to the league for getting money upfront during the pandemic when arena gate revenue was severely limited due to COVID's impact on crowds and shortened seasons.
The debt was paid off this season, and according to the NHL's CBA, the cap could rise by as much as 5 percent annually. Any increase above that number required a negotiation between the NHL and NHLPA. Considering the increase was roughly $300,000-$325,000, that was clearly accomplished based on the wording of article 50.11 of the NHL's Memorandum of Understanding in their 2020 agreement.
"For any immediately upcoming League Year for which the NHL and NHLPA anticipate a Shortfall (as defined in Section 50.11(a)(i)) based on Preliminary or projected HRR, the parties may (but are not required to) increase the Upper Limit for that upcoming League Year by up to an additional 5% (over and above the increases dictated by the provisions above) so long as both the NHL and NHLPA agree to do so by the June 15th prior to that start of that League Year" the article states.
How does this new number affect the Maple Leafs
With the jump in the cap, the Maple Leafs now have $19,705,333 in salary-cap space with an estimated 10 forwards, four defensemen and one goaltender already committed for the 2024-25 season, according to PuckPedia.com. Every little bit helps as Toronto has consistently been at max and into long-term injured reserve exception every season following the pandemic at some point or another.
The Leafs still have to figure out a second goaltender as well as fill out their defensive needs. Now that the number is clear, the real fun can begin.
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