What’s the perfect gift for a team still needing to sign a goaltender, free agent defenseman and two restricted free agent players with roughly $8 million in cap space to do so?
How about an estimated $2.2 million bump in the salary cap.
That’s exactly what the Flyers received on Tuesday, when it became official that the NHL Player’s Association Executive Board voted to maintain the 5% growth factor which will come in effect prior to the 2010-11 season.
According to the NHL …
“The growth factor is automatic under terms of the CBA, once revenues exceed $2.1 billion unless either the NHL/NHLPA proposes another Growth Factor based on actual revenue experience or other projections.”
The cap, previously sitting at $56.8 million, will expand to roughly $59 million, possibly more. This movement helps teams like the Flyers, who typically spend to the salary cap limit, but it doesn’t do the same for teams like the Carolina Hurricanes, who will worry more about evading the cap floor due to an issue with the sale of the team.
According to newsobserver.com, the Hurricanes, regardless of the cap ceiling, will only spend around $44 million in total on roster players. The cap bump simply further separating them financially from the big-market teams.
In other news, the NHLPA also voted to extend the CBA through the 2011-12 season. The agreement was set to expire after the 2010-11 campaign.
Per the Executive Board …
“The NHLPA is pleased to announce to hockey fans that the CBA will remain in effect through the 2011-12 season. It is apparent through the operation of the CBA that there are a number of issues that require serious examination. The NHLPA is currently reviewing these issues and will be forming a negotiating committee in the coming months in order to address these matters.”