After much deliberation and different estimations, the final salary cap limit for the 2018-19 NHL season has been set. Teams this season will have $79.5 million in cap space to use as they wish on players. This figure is $4.5 million higher than the 2017-18 salary cap of $75 million, and is the highest it has been in history. (Of course, the cap has increased annually since its inception in 2004-05 with only one exception in the 2012-13 lockout-shortened season).
The @NHLPA and the @NHL announced that the Team Payroll Range established for the 2018-19 League Year, pursuant to the Collective Bargaining Agreement, provides for a Lower Limit of $58.8 million, an Adjusted Midpoint of $69.15 million and an Upper Limit of $79.5 million.
— NHL Public Relations (@PR_NHL) June 21, 2018
Additionally, player escrow withholding will be below 10% for the first time since 2011-12.
NHL Salary Cap Set, Teams Given Extra Room to Spend
The extra salary cap money comes as a much-needed relief to some franchises, particularly those spending at or near the cap already. Per CapFriendly.com, The Chicago Blackhawks and Pittsburgh Penguins, for example, already have over $70 million committed towards their players for next season. The fact that they both only have 17 players counting towards their roster to make up that amount is more troublesome. Now, however, they have closer to $8 or $9 million to work with.
On the other end of the spectrum are various rebuilding franchises unlikely to reach the cap ceiling and must think about the cap floor. The Arizona Coyotes have only spent $56 million towards next year with 17 players on their books at this point. The Colorado Avalanche may end with the most cap space considering they already have 21 players signed to their roster, with only $52 million spent.
Most teams with that small of a cap hit only have 10 to 15 players signed, but Arizona is likely to stay close to the bottom spending-wise.
Increase Comes Just in Time for Free Agent Frenzy
Now with free agency set to open July 1st, teams will undoubtedly be playing with their newfound cap space. With several significant names hitting the market, expect some massive movement. Players like John Tavares, Paul Stastny, James Neal, Rick Nash, and James van Riemsdyk will all be searching for a new contract.
The bidding wars are about to begin. The market should blow wide open now that the cap increase is official too. Buckle up!
