Commissioner Gary Bettman had told reporters following the Board of Governors meeting Wednesday that the cap for next season expected to wind up between $79.5 million and $80 million.
The new salary cap increase more than doubles the spike before last season’s $75 million cap, which was up $2 million from 2016-17.
“A large part of our thinking is we want a (salary cap) number that keeps the escrow down,” Bettman said Wednesday before the cap figures were finalized. “We think by only having a more modest increase last season it was instrumental in keeping the escrow down to what we project will be about 8 percent, which will have been the lowest in years. The amount of the escrow is simply a function of how high the cap is. Higher the cap, higher the escrow. There is no magic to that.”
The escrow pertains to the amount of money the league and NHLPA withhold from player salaries during the season in order to make sure teams and players equally split hockey-related revenue.
Bettman said the league expects revenue growth to increase up to 8.5 percent from last season.
–Field Level Media