The Premier Hockey Federation, the foremost professional women’s hockey league in North America, announced a salary cap increase to $1.5 million in the 2023-24 season. This figure doubles the current salary cap of $750,000. It is a massive step forward in establishing women’s hockey as a viable full-time career in North America. The announcement adds to the recent exponential growth of the league. This goes with the league seeing record numbers in sponsorships and engagement.
PHF Salary Cap Goes Up to 1.5 Million Dollars
This salary cap increase is the third straight annual raise. This is a 900% increase from a salary cap of $150,000 in 2021. PHF Commissioner Reagan Carey said, “This historic salary cap increase reflects the strength of our league and developing business model, and supports an enhanced player experience that over the last year has introduced full healthcare benefits, facility upgrades, league expansion, and a record 84-game schedule.”
Look for the PHF to double their salary cap for '23-24 to $1.5 million per team. Announcement expected later today.
— Jeff Marek (@JeffMarek) December 14, 2022
The PHF has a maximum roster of 25 people, and a current minimum of $562,500, or 75% of the $750,000 ceiling. If these requirements stay the same, the salary cap increase will allow for $60,000 per player. That goes up from $30,000 this year. Buffalo Beauts defender Dominique Kremer has the highest disclosed salary in the PHF for the 2022-23 season, with a two-year contract with an AAV of $65,000.
This historic expansion will be another notch in the belt of the success of the PHF. Since rebranding from the National Women’s Hockey League (NWHL) in 2021, the PHF has seen extraordinary growth, adding an expansion team, securing an ESPN deal for exclusive streaming rights on ESPN+ in the United States and on TSN in Canada, and a $25 million investment from the Board of Governors to help provide benefits for players.
With this salary cap increase, the PHF takes another step forward in providing equal opportunities for women in hockey. However, Commissioner Reagan Carey is not satisfied, stating, “We will not stop here, and are very proud to continue our track record of establishing new records for women’s professional hockey. The PHF was the first league to pay its players back in 2015. Our commitment to building the best home for women’s professional hockey requires us to continue leading the way forward.”