The NHL announced a $73 million salary cap and a $54 million salary floor for the 2016-17 season on Tuesday, per SB Nation's Travis Hughes.
Sportsnet's Chris Johnston noted the cap is increasing from last season's $71.4 million threshold mostly because of the NHL Players' Association's "decision to enact [a] 5 percent growth factor."
ESPN.com's Pierre LeBrun explained that if the NHLPA had opted for a 2.5 percent growth plan, the cap would have remained flat.
Sportsnet Stats on Twitter offered an overview of how the cap has grown since the start of the 2013-14 season:
NHL Salary Cap by Season:
2013-14 $64.