NHL salary cap rises $1M to $83.5M for next season

The NHL's salary cap ceiling officially rose by $1 million to $83.5 million for 2023-24, the league announced Wednesday.

The cap floor will be $61.7 million, and the midpoint will be $72.6 million. The maximum salary is $16.7 million, according to Sportsnet's Elliotte Friedman.

In October, commissioner Gary Bettman said the players' escrow balance was likely to be paid off by the end of the season, which would've allowed for a cap ceiling increase of approximately $4 million. However, two months later, Bettman said the league projected a $70-million escrow balance, which meant a cap ceiling increase of only $1 million from the $82.5-million figure of this past campaign.

The cap remained at $81.5 million for three seasons due to the pandemic before rising in 2022-23.