The NHL held a Board of Governors meeting on Tuesday and the news is all about the salary cap:
Gary Bettman after a 4-hour Board of Governors meeting tells assembled media here in NYC that the escrow balance likely will be paid off at end of season by players. And if so, the salary cap will jump this summer by around $4M. But if not fully paid, cap goes up just $1M.
— Pierre LeBrun (@PierreVLeBrun) October 18, 2022
In the days before the Memo of Understanding extension to the CBA was signed in 2020, the salary cap was set by a process that used the current year’s projected revenue every summer.