NHL Projects Record $127.5M Cap for 2028-29 Season
The NHL's board of governors received an initial projection of $127.5 million for the 2028-29 salary cap, a $14 million jump from the prior year. That would be the largest single-season increase in the cap's history. The projection follows record contracts signed this summer, including Cale Makar's $20.4 million annual cap hit.
The projection arrives after a lengthy period of stagnation, with the cap frozen at $81.5 million from 2019 through 2022 before climbing to its current $104 million. Next season's scheduled $113.5 million ceiling means the league would see a combined 22.6 percent increase across just two offseasons if the 2028-29 estimate holds.
This summer's record-breaking contracts were signed with this trajectory in mind. Kaprizov, Carlsson, Celebrini, and Makar each secured deals exceeding $17 million annually, with Makar's $20.4 million hit equating to roughly 16 percent of the projected ceiling — proportionally similar to a $16.64 million contract under this year's cap. The board's estimate remains preliminary, subject to negotiation between the NHL and NHLPA.
A rapidly expanding salary cap could alter competitive dynamics across the league, giving general managers greater flexibility to retain stars while still building depth. Players and agents may gain negotiating leverage as projected ceilings rise, potentially accelerating the pace of extensions and offer sheets. Smaller-market teams could face heightened pressure to match escalating market rates, while fans might see more aggressive trade activity and roster turnover as front offices adjust to a new financial landscape.