from Mark Spector of Sportsnet,

We’ve seen this cycle before, and it has never ended well for the National Hockey League.

Revenues come in, and the salary cap goes up. Revenues stay flat, and the NHLPA exercises its right under the collective bargaining agreement to ratchet the cap up.

As the numbers rise, more GMs from the rich teams make more poor decisions on blockbuster contracts, driving the player market up for all 30 teams. Eventually, the salary floor gets to the point where too many teams can’t even turn a profit by spending the minimum.

And then the inevitable lockout ensues, with the owners crying poor. And after a while with no hockey, they shake hands, it all happens all over again.

So, with NHL commissioner Gary Bettman predicting on Monday that the cap could jump nearly 12 percent after only the first year of the newest CBA, we ask the question: Why will the cycle be different this time?

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