The Premier Hockey Federation has announced on Tuesday that the Board of Governors agreed on a $25 million investment. The PHF salary cap will now double from $300,000 to $750,000 next season. They’ve also announced their plans for an expansion team in Montreal, with details coming in a later date.
The PHF is excited to announce a commitment from the Board of Governors to invest over $25 million in direct payments to its players over the next three years, with a salary cap increase up to $750,000 per team for next season.
— PHF (@PHF) January 18, 2022
New Premier Hockey Federation Agreement Increases Salary Cap and Player Benefits
The PHF has been working towards improvements for the league for a while now. First, they announced a new salary cap increase in April of 2021. Then, they changed the name and brand of the league to a more inclusive and personalized one. Last year was a big year for them. Now, the league has once again increased their salary cap. This is a huge win for them and their players as it’ll provide even more stability for the league. A lot of their players need to keep regular jobs in order to support their dream and this salary cap increase will allow most of them to make hockey their main source of income.
Aside from the increase, the new investment approved by the Board of Governors will be used in direct payments and benefits to the players within the next three years. It’ll allow the teams to provide full healthcare benefits, something that has been a constant request by their players since the league started. This allows the league to provide equity in the teams. The new investment will also provide support to the current and future players. In addition to that, it’ll help the PHF attract new athletes who may be interested in signing with one of their six teams.
Other Benefits From The Investment
Along with the healthcare benefits, the league also plans to update the teams’ facilities, purchase new equipment and increase ice time for more practices. The schedule will be expanded to 28 games, a nig difference from the 20 this season. Also, the players will benefit from 10 percent equity of each team, which will be invested in an investment pool owned by the PHF players, according to their press release. With the pool, all players will be able to share in the league’s financial success. The athletes will also have control over their images and will be able to profit from their brands.
“On behalf of the Board of Governors we are proud to play a part in bringing women’s sports to the next level by investing in the PHF,” said John Boynton, Chairman of the Board of Governors. “We see the PHF as a platform to address the inequities that women athletes face. We also believe in the sustainability of our developing business model and embrace our responsibility to build a platform that grows this dynamic league to historic heights.”
The PHF also announced their plans to expand the league with a team in Montreal, Quebec, and a potential addition in the United States. The expansion plans and details will be released on a further date.
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