According to a new report from insider Elliotte Friedman, the NHL has released new salary cap projections that are significantly higher than previous estimates. The salary cap for next season will be $95.5M, an increase of $7.5M from this year’s cap.
Within the next three seasons, the salary cap is expected to rise to over $113M. With an additional $25M in cap space coming over the next three years, it could help the Oilers on the blockbuster report of signing superstar Mikko Rantanen.
The cap’s expected increase to $95.5M is $3.1M higher than their most recent projection of $92.4M. This shows the NHL is in great financial shape, and should be welcome news for teams and free agents.
Rising NHL Salary Cap will greatly benefit Edmonton Oilers in multiple ways
With a rising salary cap, the Oilers will gain some additional room to re-sign key players like Connor McDavid, Evan Bouchard, and Stuart Skinner all within the next two years.
The one drawback is with a rising cap, they can demand more salary. However, the Oilers should still have enough space to re-sign everyone. The big question will be is how much can they add.
According to Andy Strickland’s recent report on the Cam and Strick Podcast, the Oilers believe they can make the salary cap work to sign Rantanen in free agency.
Can I tell you where I think he’s going to sign? Rantanen. And this is not just speculation, it is informed speculation. Who’s gonna pay Rantanen the big bucks? Edmonton. He’s going to Edmonton.
They’re gonna be able to pay him there is some belief they can make that happen.
– Andy Strickland
Perhaps with a rising cap and deferred salary, it could be possible. Today’s report of the salary increasing by an additional $3.1M will certainly help the pursuit of Rantanen.
Additionally, some other teams are reportedly not comfortable with the rising salary cap and may impose internal spending limits.
Oilers ownership is doing historically well, so Edmonton may have some financial power advantages over rival teams.
Hopefully the Oilers can use their current financial strength, the draw of Connor McDavid, and the rising salary cap to put even more improvements on this team.
Still in the pursuit of the first Stanley Cup in the McDavid era, the Oilers still clearly need all the help they can get.