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What is the NHL salary cap? Going over the cap and floor before free agency begins

We take a look at the salary cap and floor, plus rules surrounding free agency

2023 NHL Stanley Cup Final - Game Five Photo by Jeff Bottari/NHLI via Getty Images

The NHL announced its salary cap numbers for the 2023-24 season before the NHL Draft began on Wednesday. It’s up to the teams in the league to be compliant with the salary cap and cap floor to participate in transactions heading into the new league calendar year, which begins Saturday at noon. The NHL salary cap is a hard cap, meaning once a team hits the salary cap number, they cannot go over for any reason other than a possible injury exception.

What is the NHL salary cap?

The NHL salary cap will be at $83.5 million for the 2023-24 season.

What’s the cap floor?

The NHL salary cap floor will have a limit of $61.7 million, which is a rise of $700,000 from last season.

How much did the cap increase for 2023-24?

On Wednesday, the NHL announced that the salary cap would increase by $1 million dollars as the league continues to recover from the economic impact of the COVID-19 pandemic.