The NHL salary cap is going up again, marking the fifth consecutive year it is has risen since it was established for the 2005-06 season.
Teams will have $64.3 million to spend next season, an increase from $59.4 million, the league and the NHL Players' Association said Thursday. All 30 clubs must spend a minimum of $48.3 million on payroll, $9.3 million above the original upper cap limit of $39 million set six years ago following the season-long lockout.
The cap is based on a percentage of revenues from the previous season. The $4.9 million increase in the largest since a record $6.4 million jump before the 2008-09 season. The cap rose a total of only $2.7 million the previous two years.
The floor of the cap is always $16 million below the ceiling figure.
Increases of $5 million, $6.3 million and $6.4 million were registered following the first season of the cap before raises of $100,000 for the 2009-10 season and $2.6 million for last season.
Setoguchi stays put
The San Jose Sharks have signed forward Devin Setoguchi to a $9 million, three-year contract to prevent him from becoming a restricted free agent next month.
Setoguchi got paid $1.8 million last season and said he wanted to stay in San Jose.