It will be a great time to be a free agent in the NHL again.
On Friday, the NHL and NHLPA sent a memo to teams predicting the yearly salary cap will increase significantly over the next three seasons, per The Athletic’s Chris Johnston.
The memo detailed an 8.5 percent increase from this year’s $88M cap to $95.5M for the 2025-26 season, followed by a slightly higher bump to $104M in 2026-27. The plan also forecasts a nine percent increase to $113.5M in 2027-28.
The NHL salary cap has remained relatively stagnant since the COVID-19 pandemic interrupted the 2019-20 season.
It remained locked at $81.5M for three consecutive years to give franchises ample time to recover lost revenue from the pandemic pause.
However, in 2022-23, the league raised the cap by just $1M, and then again for 2023-24. Only this season did it increase significantly from $83.5M to $88M (a nearly 5.4 percent raise).
Greater financial flexibility over the next three seasons will be welcome news for franchises and players alike, as new deals will be simpler to negotiate and sign.
Those effects are already being seen this season. For example, the Washington Capitals signed goaltender Logan Thompson to a new six-year, $35.1M contract on Monday — a key impending free agent now locked down long-term.
Another vital piece to the team’s success is defenseman Jakob Chychrun. He is reportedly still negotiating with Washington, who, after the Thompson deal, supposedly asked for more salary-cap information before making any offer, per insider Elliott Friedman.
Friday’s news may be what Capitals general manager Chris Patrick was looking for, potentially making a new deal with Chychrun easier.
Significant paydays could be on the horizon for other league veterans who could potentially test the market this summer, like Mikko Rantanen and Mitch Marner.
