Bettman provides update on NHL's salary cap situation for 2023-24 season
During his annual state of the union address ahead of Game 1 of the Stanley Cup Final, NHL Commissioner Gary Bettman gave updates on various topics around the league, including next year's salary cap.
According to TSN's Chris Johnston, Bettman said that the cap will only rise by $1 million next season to $83.5 million because the players' escrow debt won't be paid off until the end of the 2023-24 campaign.
Bettman added in his address that the salary cap will go up significantly for the 2024-25 season, but didn't elaborate further on what that dollar amount may look like.
The news was not what outspoken NHL agent Allan Walsh was wanting to hear and he took to Twitter to voice his displeasure.
So Gary will hold several of his teams and all the players hostage by only allowing a $1M bump to the Upper Limit instead of a modest $3M rise justified by next seasons projections. Maybe the players should just decertify the Union and get rid of Gary's triple hard cap system.
Do you know who else Gary is holding hostage here? THE FANS!!!
Gary's own projections for next season would allow for a $3M rise in the cap and a pay down of the entire remaining balance of the $70 Million Escrow Debt." Walsh said in a series of tweets.
Do you know who else Gary is holding hostage here? THE FANS!!!
Gary's own projections for next season would allow for a $3M rise in the cap and a pay down of the entire remaining balance of the $70 Million Escrow Debt.� Allan Walsh🏒 (@walsha) June 3, 2023
It's certainly a frustrating situation for everyone involved here. Front offices around the league aren't happy because they aren't able to spend more this off-season in free agency and cap-tight teams aren't going to feel much relief. For the players, especially those hoping for a big payday this summer, they may need to hold out and wait for 2024 before getting the money they want and we could see plenty of one-year deals signed next month.
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