NHL increases team salary cap to $88 million for the 2024-25 season, with a $4.5 million increase.

The NHL increases its team salary cap to $88 million for the 2024-25 season, a $4.5 million increase. This marks the first significant increase in years, with modest raises of $1 million to $82.5 million in 2022-23 and $83.5 million in 2023-24. The cap floor for next season will be $65 million, allowing NHL teams to have more spending power when free agency opens on July 1.