Rumour: NHL financial deficit will jeopardize the teams salary caps
Speaking on his weekly 31 Thoughts podcast, insider Elliotte Friedman revealed that some of his sources have indicated that it could be a full 5 years before we see the league's cap rise again.
"You know, I have to tell you too Jeff. I had someone say to me this week that based on what they're hearing revenues are and what the money that's going to be owed from the players to the league, they are not expecting the cap to go up for 5 years," said Friedman on his most recent podcast.
It's easy to see how this may have severe repercussions for teams with numerous players signed to long-term contracts for a lot of money, particularly for teams with ageing players on those expensive contracts. Teams like the Edmonton Oilers, who have both captain Connor McDavid and winger Leon Draisaitl making enormous wages, will have to tread carefully moving forward, while teams like the Minnesota Wild, who were no doubt banking on the salary cap rising up to help manage the contracts of fading assets like forward Zach Parise, will be in even more trouble.
If Friedman's sources are true, teams like the Toronto Maple Leafs, Tampa Bay Lightning, Las Vegas Golden Knights, and others will face difficult decisions in the future. On the other hand, this might be a significant benefit for budget teams, like as the incoming Seattle Kraken, who will now be able to turn their available cap space into a highly valued asset moving forward.
Credit: HockeyFeed
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