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Salary cap for 2016-17 NHL season set at $73 million
Published June 22, 2016
NEW YORK (AP) The salary cap for the 2016-17 NHL season will be $73 million, up from $71.4 million.
The league and NHL Players' Association announced the cap number Tuesday night.
The cap floor, or the minimum amount a team can spend, is $54 million. It was $52.8 million last season.
Players elected to use their 5 percent escalator clause to help increase the salary cap $1.6 million.
The Canadian dollar was one reason why league revenues sagged, preventing a larger cap increase.
The draft begins Friday in Buffalo, New York. Free agency opens July 1 at noon, though teams can talk to players beginning Saturday.
General managers have said they're waiting on the cap number to make decisions with their own potential free agents.
https://www.foxnews.com/sports/salary-cap-for-2016-17-nhl-season-set-at-73-million