Jun 24, 2010, 9:13 PM EDT
It was mentioned a couple days ago that the collective bargaining agreement was officially agreed upon to be extended until 2011-2012. The other part of that was agreeing to boost the salary limits for this season. Both the NHL and the NHLPA were happy to announce what, exactly, those limits would be for the upcoming season.
The National Hockey League Players’ Association and the National Hockey League announced today that the Team Payroll Range established for the 2010-11 League Year, pursuant to the Collective Bargaining Agreement, provides for a Lower Limit of $43.4 million, an Adjusted Midpoint of $51.4 million and an Upper Limit of $59.4 million.
So the salary cap jumps up nearly $3 million to $59.4 and the salary floor goes up to $43.4 million. Keep in mind that the salary cap five years ago was $39 million dollars. The price of success certainly is a steep one and while the owners in the NHL can’t be upset that they’re generating so much revenue (revenue is linked to the cap after all) some of the teams not raking in the cash as heavily have to be getting a little itchy seeing their bottom lines getting worse year in and year out.
That said, teams like Chicago, Philadelphia, and Boston are more than happy to see the cap jump up as much as it has as it gives them a bit more flexibility and relaxes the stress on them to make overly drastic moves to reduce payroll.
- NHL, Coyotes deny report that team is moving to Vegas 29
- Report: Richards’ border incident involved oxycodone 52
- Trade: Bieksa headed to California — but it’s Anaheim, not San Jose 24
- Trade: Jackets land Saad, Anisimov and Dano headed to Chicago 89
- Hamilton signs six-year deal with Flames 18
- Sharks get Jones from Bruins for first-round pick and unsigned prospect 42
- Hurricanes to buy out Semin 15
- Bruins are talking to teams about Savard, but not Rask 14
- Report: Richards part of police investigation 47
- UFA of the Day: Mike Green 5
- Trade: Flyers send Rinaldo to Bruins for 2017 third-rounder (105)
- Bypassing a buyout? Kings terminate Richards’ contract for ‘material breach’ (90)
- Trade: Jackets land Saad, Anisimov and Dano headed to Chicago (89)
- Trade: Flames land Dougie Hamilton for package of picks (75)
- Trade: Busy Bruins send Lucic to Kings (66)