Commissioner: The salary cap could increase by $4 million

NEW YORK — The NHL’s salary cap could rise by over $4 million next season if the league meets its revenue projections.

“We believe there is a good chance that the escrow will be paid out this season. That means the flat cap would be replaced with a larger increase,” NHL Commissioner Gary Bettman said after Tuesday’s meeting of the league’s Board of Governors in Manhattan.

The NHL and the NHL Players’ Association signed a new collective bargaining agreement in 2020. They agreed to leave the salary cap unchanged at $81.5 million until hockey-related revenue surpassed $3.3 billion last season. The salary cap was increased this season for the first time as part of this CBA, by $1 million to $82.5 million.

The “flat cap” was necessary because players owed the owners an estimated $1 billion in debt due to the COVID-19 pandemic revenue losses. When that debt is fully paid off, the cap shifts to a “mathematical cap” linked to revenue. Bettman said he believes the debt could be paid off this season, with the cap rising to between $4 million and $4.5 million for the 2023-24 season, which is ahead of schedule.

Bettman said revenue is “pretty brisk” and that the league generated about $5.4 billion in hockey revenue last season, which is about half a billion dollars more than the NHL had forecast.

The commissioner said full debt settlement by the end of the season “will be close”. If that doesn’t happen, the salary cap for 2023-24 will only increase by $1 million.

The Russia problem of the World Cup

The NHL expects to host the next World Cup of Hockey in February 2024, but some of the nations expected to take part are raising protests over the involvement of Russian players.

“The conflict in Ukraine makes it difficult to deal with the Russian question. We have certainly heard from some countries that would participate [in the World Cup] that they would object to Russian involvement,” Deputy Commissioner Bill Daly said.

The NHL had anticipated some sort of adjustment in the status of the Russian team if Russia’s war against Ukraine was still ongoing at the time of the World Cup. Initially, the hope was that the Russian players would simply play under a neutral name or flag, similar to the Olympics after the Russian Olympic Committee was suspended in a doping scandal. But Daly said the other World Cup countries were not happy with that.

“We considered that as an alternative. Based on what I understand as concerns, it doesn’t seem like a solution for the other countries,” Daly said.

The NHL said the objections are a “relative fact” in the decision-making process about Russian players’ participation, but no decision has yet been made on their status — nor were any plans about World Cup logistics finalized just over a year before the event is planned.

Investigations against Ian Cole

The NHL Board of Governors did not receive a report on the investigation into Tampa Bay Lightning defenseman Ian Cole, but Bettman addressed the potential ramifications.

The NHL said Saturday that it had found no evidence to support allegations of sexual misconduct against Cole that were made anonymously on social media. The Flash then rehired Cole, who had been suspended from the team on pay and missed the first three games.

Bettman said Jared Maples, the NHL’s chief of security, and David Zimmerman, the league’s chief legal officer, conducted “as comprehensive an investigation as could be conducted with an anonymous tweet.”

The NHLPA released a statement following Cole’s reinstatement, stating, “Players should never be suspended or disciplined in response to baseless and anonymous allegations” and that “the removal of a player from his or her team in these circumstances is unreasonable and grossly unfair.” “.

Bettman said he respects the union’s view on the matter but supports Tampa Bay’s decision to suspend Cole.

“The Blitz decided it could be a short-term distraction and clubs can do that,” Bettman said.

He said similar situations would be dealt with on a case-by-case basis going forward.

“Ultimately, I always worry when allegations are made. But when they’re collected anonymously, it’s difficult to deal with,” Bettman said.