: Salary Cap:
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05-10-2009, 05:35 PM
A Fistful of Dollars
Join Date: Jan 2004
A team-by-team list of salary cap commitments/free agents from
the Toronto Sun
While some NHL teams have their hands full with the playoffs, others are already looking ahead to July 1 ... and it's not because of the Canada Day fireworks.
It's NHL free agency day, where teams can do an expensive remake ... or in some cases, cause severe damage that will have long-term repercussions.
"While it's important, mistakes can be made," said Boston Bruins GM Peter Chiarelli. "I think it's as important as the trade deadline, but what you're seeing now is GMs approaching July 1 with a lot more caution."
It's because, there has been plenty of good money thrown after bad gambles. This will be the fourth year NHL teams have negotiated contracts with the salary cap in place, but it's going to be the first time there's a threat of a drop in the cap.
While the members of the NHL Players' Association haven't made a decision, the 30-player executive board is expected to vote next month to accept a 5% growth factor in the cap for next season.
If that's the case, the cap is will stay at its current $56.7- million (all terms US) level or rise slightly. The GMs of the Philadelphia Flyers and New York Rangers, who don't have a lot of money to spend, probably want the NHLPA to accept the growth factor, which is automatically built in if revenue expectations are met.
The NHL isn't expected to get hit hard by the worldwide economic downturn until the 2010-11 season. It's been suggested the cap could fall as low as $50 million because revenues for advertising and ticket sales will likely take a huge hit next year in markets where the economy has slowed, the Canadian dollar has fallen and sales are tough.
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