8 NHL Teams That Will Benefit From an Increased Salary Cap

Since the 2020-21 season, NHL teams have operated under a salary cap that's risen at a glacial pace. Flattened by a reduction in hockey-related revenue brought on by the COVID-19 pandemic, the cap was fixed at $81.5 million over the past two seasons, rising to $82.5 million for 2022-23 and scheduled to increase to $83.5 for 2023-24.

However, there is good news ahead for the 32 NHL clubs. On Sept. 27, Sportsnet's Elliotte Friedman and Rory Boylen reported multiple sources forecast the cap could significantly increase in 2024-25 and 2025-26.

Based on potential revenue projections, the cap could reach between $87.5 million and $88 million for 2024-25. For 2025-26, it could jump another estimated $4 million to $92 million.

Those projections are tied to the NHL returning to full 82-game schedules with full arena attendance, lucrative broadcasting deals with Disney and Turner Sports, as well as new advertising and corporate sponsorship deals.

Every NHL club will profit from those projected increases in the cap, particularly clubs with key players due for new contracts that could extend beyond 2023-24. Here's a look at eight that could benefit the most.

Do you agree or disagree with our assessment? Feel free to express your views on this topic in the comments section below.

The defending Stanley Cup champion Colorado Avalanche recently made headlines by signing Nathan MacKinnon to an eight-year, $100.8 million contract extension. The average annual value, which begins in 2023-24, will be a whopping $12.6 million, surpassing Edmonton Oilers captain Connor McDavid for the highest AAV.

Given MacKinnon's hefty raise, the Avalanche will need all the salary-cap space they can get. It's already looking tight for them in 2023-24 when they'll have a projected $70.3 million invested in just 12 players. Erik Johnson is their notable pending unrestricted free agent, while youngsters Alex Newhook and Bowen Byram are restricted free agents.

The potential rise of the cap to $87.5 million for 2024-25 occurs when defenseman Devon Toews and goaltender Pavel Francouz become eligible for UFA status. An increase to $92 million in 2025-26 could help them re-sign winger Mikko Rantanen and goalie Alexandar Georgiev, who are slated to become UFAs in July 2025.

Maintaining a Cup champion is difficult during normal circumstances. Doing so with a marginally rising cap, as the Tampa Bay Lightning did over the past two years, is tougher and can lead to the incremental depletion of roster depth. Having the cap potentially rise to $92 million by 2025 should make it a little easier for the Avs to maintain their core players.

The Dallas Stars managed to squeeze new contracts for rising young stars Jason Robertson and Jake Oettinger within their cap payroll for this season. However, they're going to need a lot more cap room if those two have blossomed into indispensable core players when those contracts expire in 2025.

Robertson inked a four-year deal with an average annual value of $7.8 million. He's already established himself as one of their top scorers, netting a team-leading 41 goals last season. If he maintains that level of production over the course of his current deal, he could exceed $10 million annually on his next deal.

Oettinger took over as the Stars' starting goaltender last season as an NHL sophomore. Earning an AAV of $4 million through 2024-25, he could be in line to more than double his pay if he becomes one of the league's top netminders over that period.

The Stars must also re-sign Roope Hintz and ageless winger Joe Pavelski before 2023-24. Captain Jamie Benn will be turning 36 by 2025 when he becomes a UFA. If he's not re-signed, the significant increase in the cap by then will make it much easier to re-sign Robertson and Oettinger.

Leon Draisaitl's current contract expires at the end of 2024-25. The Edmonton Oilers superstar is earning an average annual value of $8.5 million and will be due for a substantial raise on his next deal.

A projected increase in the cap to $92 million for 2025-26 couldn't come at a better time for the Oilers. It should give them a decent opportunity to re-sign Draisaitl.

The Oilers already have $73.5 million tied up in 15 players for 2023-24 with Evan Bouchard and Jesse Puljujarvi due to become restricted free agents next July. They won't be able to put permanently sidelined Oscar Klefbom and Mike Smith on long-term injury reserve to exceed the cap because their contracts come off their books at the end of this season.

The Oilers will need that projected rise to at least $87.5 million for 2024-25, as winger Kailer Yamamoto and promising forward Dylan Holloway will become restricted free agents in July 2024. If they invested wisely in those players before 2025, it could help them have enough to retain Draisaitl when the cap reaches $92 million.

The New York Rangers reached the Eastern Conference Final last season thanks in part ot the goaltending of Igor Shesterkin. Currently signed through 2024-25, he could seek to double his $5.6 million average annual salary by that point.

Winner of the Vezina Trophy last season, the 26-year-old Shesterkin will still be in his playing prime when his current contract expires. By that point, having a $92 million salary cap will certainly make things easier for the Rangers to re-sign him.

The Rangers must also deal with the cost of retaining promising young players such as Alexis Lafreniere, Kaapo Kakko and K'Andre Miller. They could be in line for big raises depending on their performances in the near future.

With $65 million invested in just 11 players for 2023-24 and the cap only rising by $1 million, Rangers management could attempt to re-sign those youngsters to affordable short-term bridge deals. They will seek substantial pay raises on their next contracts by 2025-26, by which point the Blueshirts should have more cap room to sign them, depending on the cost of retaining Shesterkin.

The Pittsburgh Penguins managed to retain two of their aging core players this summer by re-signing center Evgeni Malkin and defenseman Kris Letang to long-term contracts. With Sidney Crosby, Jake Guentzel and Tristan Jarry due for new deals over the next three years, a substantial increase in the salary cap over that period will be most welcome.

Jarry is eligible to become an unrestricted free agent next July. While the salary cap is only rising to $83.5 million, their projected $20 million in cap room gives them enough to re-sign him. How much of a raise he'll seek over his current $3.5 million will have an effect on how much space they'll have for 2024-25 and 2025-26.

The increase of the cap ceiling to $87.5 million for 2024-25 will help them re-sign Guentzel. He will be nearing 30 by that point but should still remain among their leading scorers. The skillful left winger could seek a raise well over his current $6 million AAV on a long-term contract.

Crosby's contract expires in July 2025 by which point the longtime Penguins superstar will be approaching 38. He could forgo retirement if he's still playing at a high level. However, he could insist on maintaining his $8.7 million AAV on a one- or two-year deal. A salary cap of $92 million for 2025-26 will make it easier to absorb that contract.

Despite the flattened salary cap in recent years leading to the departures of several depth players, the Tampa Bay Lightning have skillfully managed their salary-cap payroll to maintain a Stanley Cup contender.

Next season will once again prove challenging for Lightning management. They have $80.4 million committed to just 12 players, though they'll be able to exceed the $83.5 million cap by $6.9 million by keeping the permanently sidelined Brent Seabrook on LTIR. Still, they could lose another valuable depth player in winger Alex Killorn to free agency.

The rise of the cap to $87.5 million for 2024-25 comes when captain Steven Stamkos will be eligible for UFA status. He'll be 34 by that point, and while he should still be an effective scorer, the longtime Lightning sniper might have to accept a pay cut to stay in Tampa Bay. Nevertheless, that rise in the cap could mean the difference between keeping or losing him.

Victor Hedman will be 34 and UFA-eligible in July 2025. With the cap projected to rise to $92 million, that could give the Lightning an excellent opportunity to keep their top defenseman in the fold. Like Stamkos, he could also face a pay cut to stay in Tampa Bay.

A rise of the salary cap to perhaps $88 million for 2024-25 and $92 million for 2025-26 is good news for the Toronto Maple Leafs. That's because four of their biggest stars have contracts that expire during that period.

Auston Matthews and William Nylander are eligible for unrestricted free-agent status at the end of 2023-24. Matthews' current annual average value is $11.6 million, while Nylander's is a bargain at $7.0 million. The following year sees Mitch Marner and John Tavares slated for UFA eligibility. Marner is pulling down $10.9 million annually, while Tavares earns $11 million.

Tavares will be approaching 35 by then and could be the odd man out given his age. Matthews, Nylander and Marner will still be in their prime and in line for substantial pay raises. Matthews, the two-time winner of the Maurice Richard Trophy and last season's Hart Memorial Trophy winner, could become the NHL's highest-paid player.

The Leafs have $33 million invested in four players for 2024-25 but much of their projected $54.4 million in cap space will already be invested in other contracts before then. Nevertheless, a projected cap increase of $4 million for 2024-25 and $4.5 million by 2025-26 gives them a better chance to retain Matthews, Marner and Nylander.

The flattened salary cap forced the Vegas Golden Knights to shed salary this summer. They shipped out first-line winger Max Pacioretty to the Carolina Hurricanes in a cost-cutting move and acquired the contract of permanently sidelined defenseman Shea Weber, placing him on long-term injury reserve to gain some cap flexibility.

With $88.6 million invested in 20 players for 2023-24, the Golden Knights could again be forced to free up cap room to address any roster needs. With Weber signed through 2025-26, they can keep him on LTIR to exceed the cap if necessary, but they won't be able to accrue cap space during the season.

The Golden Knights will have a projected 71.9 million tied up in 14 players for 2024-25. Along with Weber's LTIR, the rise in the cap by $4 million for that season will also provide them with some much-needed room to re-sign or replace pending unrestricted free agents such as Jonathan Marchessault, Alec Martinez and Chandler Stephenson.

Another increase by about $4 million to $92 million for 2025-26 will be timely for the Golden Knights. Puck-moving defenseman Shea Theodore becomes eligible for UFA status in 2025 and could seek a big raise over his current $5.2 million average annual cap hit.

Salary cap and player salary info (as of Oct. 14, 2022) via Cap Friendly.