Yes, you MUST spend a certain amount on salaries (NHL cap floor is now about $52 million I believe - bump it up to $60 to make it more interesting!).
Can you draft a nonplayoff team and spend at least x million at the cap floor?
That is exactly what tanking clubs are trying to do to win the McDavid/Ekblad sweepstakes (The team with the worst record in the NHL will get at least the 2nd overall pick).
Let's do it.
The Tank Draft
The Tank Draft is a great name for this league! I would be in for this kind of draft/league... cap floor, and least fantasy points wins or something like that. With all of those other awards people have mentioned too