The NHL's Board of Governors has approved changes to limit the draft lottery format, including capping No. 1 picks to two per team in a five-year span, Sportsnet can confirm.

Sportsnet's Chris Johnston reported back on March 8 that the league proposed three key changes to the lottery system in a memo to all 31 teams, which required approval from the Board of Governors.

• Teams would be limited to no more than two lottery wins in a five-year period
• Teams would only be allowed to jump 10 spots with a lottery win
• There would be a reduction in the number of picks decided by the lottery, from three to two

Sportsnet's Elliotte Friedman reported that the first two potential changes listed above would not take effect until 2022 if approved, while the third would take effect this year. As well, previous lottery results would not count toward teams' totals, in regards to changes such as the first listed above.

The draft lottery was first introduced in 1995, but a version resembling the current format was put in place since 2016. That format allows for any team that misses the playoffs to move up into the top three picks of the first round, using a draw of random number combinations.

The 2021 NHL Draft is scheduled for July 23-24.