Kukla's Korner Hockey

Kukla's Korner Hockey

Gary Bettman From The BOG Meeting

12/13/2022 at 12:15pm EST


Paul

from Greg Wyshynski of ESPN,

In October, Bettman said there was a chance that the 2023-24 season would have a computational cap, and that the salary cap could rise by more than $4 million because there was "a good probability" that the players' escrow debt will be paid off this season.

But at the board of governors meeting in Palm Beach on Tuesday, Bettman downplayed those expectations and said the players could still owe about $70 million at the end of the season.

"Based on current projections, there will still be an escrow at the end of the season. If that's the case, we will move the cap up by $1 million," Bettman said. "If we perform even better -- and the budgeting projections that we have now are pretty robust -- it's conceivable the escrow will go away and the cap will go up to [over] $86 million."

Bettman said the NHL would have to bring in an additional $140 million-$150 million in revenue for the players' escrow to be paid off this season. He said if the escrow isn't paid by the end of the 2022-23 season, he believes "it should be all gone" after the 2023-24 season.

There are a couple of major factors that will influence the NHL's revenue growth for this season. Currency valuation is one. The Canadian dollar currently is valued at 0.74 U.S. dollars. Bettman said the value of the Canadian dollar had a negative impact of between $10 million to $15 million last season.

Another factor is the Stanley Cup playoffs. According to deputy commissioner Bill Daly, the league's revenue could greatly be impacted with the right franchises in the postseason and making deep runs. "Who's in the playoff and what are they generating?" he said.

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

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