10 NHL Teams That Can Take Advantage of a Higher Salary Cap in 2024 (2023)

In 2024-25, the NHL salary cap is estimated to increase significantly for the first time after several seasons of marginal increases tied to the 2020 Memorandum of Understanding (MOU) extending the collective bargaining agreement.

The cap was frozen at $81.5 million for 2020-21 and 2022-21, rising by just $1 million to $82.5 million in 2021-22 and to $83.5 million last season.

Under the MOU, the salary cap increased marginally due to the decline in revenue as a result of the COVID-shortened 2019-20 and 2020-21 seasons. However, the players' share of revenue during that time exceeded the 50-50 split with the owners, meaning they had to repay over $1.5 billion in escrow debt spread over several seasons.

The salary cap is projected to rise by $4 million for 2024-25 to $87.5 million. It could even exceed that expectation given significant increases in league revenue under its new broadcasting and sponsorship agreements, the rise in attendance since the pandemic, and the addition of the Seattle Kraken in 2021.

All 32 NHL clubs will benefit from this increase, but some will profit from this more than others.

It will provide welcome cap relief for those carrying hefty salary-cap payrolls such as the Tampa Bay Lightning. Clubs with notable stars to re-sign, like the Toronto Maple Leafs, will have more cap payroll to do so.

Here's a look at 10 teams that will make the most of the higher cap in 2024-25 and why. You can express your thoughts on this topic in the comments below.

Coming off an NHL record-breaking performance with 65 wins and 135 points last season, the Boston Bruins will enter 2023-24 with a depleted lineup due to salary-cap constraints.

With $83.1 million, they sit just below this season's cap, hindering them from finding suitable replacements for retired centers Patrice Bergeron and David Krejčí.

The departures of Bergeron and Krejci don't provide any cap relief. Both centers were on low-cost 35-plus, bonus-laden contracts for last season. Those bonuses, totaling $4.5 million, created an overage that carries over to this season's cap payroll.

Because of their cap constraints, the Bruins couldn't prevent the departures of trade deadline acquisitions such as winger Tyler Bertuzzi and defenseman Dmitry Orlov via free agency. They also had to make a major cost-cutting trade that sent winger Taylor Hall and his $6 million average annual value to Chicago.

Given their cap situation, the Bruins will have to muddle through this season with their current roster. However, they'll be in better shape in 2024-25 to improve their depth via trades and free agency. Thanks in part to the expected $4 million spike in the cap, they will have a projected $28.6 million in cap room with 11 active roster players under contract.

In addition to pursuing a first-line center, the Bruins could retain winger Jake DeBrusk and goaltender Jeremy Swayman.

A top-six winger, DeBrusk is eligible for UFA status next July. Swayman, meanwhile, will again become a restricted free agent with arbitration rights.

As a rebuilding club, the Buffalo Sabres have been at or near the bottom of the list when it comes to annual NHL salary-cap payrolls. However, with a talented group of youngsters on the roster, they will need as much cap space as possible to keep this group intact as they push to become playoff contenders.

The Sabres have several young players slated to become restricted free agents next summer. They include superstar defenseman Rasmus Dahlin and rising blue-line star Owen Power along with forward Casey Mittelstadt. They're in line for substantial raises if they play as well or better than they did last season.

Promising players such as goaltender Ukko-Pekka Luukkonen and Peyton Krebs will also become RFAs by next July. If one or both have breakout performances this season, the cost of re-signing them will become expensive.

The Sabres have several veterans slated to become unrestricted free agents such as Kyle Okposo, Victor Olofsson, Zemgus Girgensons, Tyson Jost, Erik Johnson and Eric Comrie. Some of them could be traded away or allowed to depart next summer as free agents. However, the Sabres could use some cap flexibility if they wish to retain some of them.

With $46.4 million in projected cap space and just nine roster players under contract for 2024-25, the Sabres have the room to ensure Dahlin, Power and Mittelstadt are re-signed. There could also be enough to retain most of the other aforementioned free agents, thanks in part to that anticipated increase in the 2024-25 salary cap.

The Calgary Flames have several key players eligible to become unrestricted free agents next summer. Getting an additional $4 million in cap space could go a long way toward signing some of them.

Centers Elias Lindholm and Mikael Backlund along with defenseman Noah Hanifin are the Flames' prime pending UFAs. Other notables include blueliners Oliver Kylington, Chris Tanev and Nikita Zadorov. Meanwhile, speedy winger Dillon Dubé and promising left winger Jakob Pelletier are restricted free agents.

The projected increase in the cap will give the Flames a projected $35.5 million in cap space with 11 active roster players under contract. That could be enough to retain some of those key names.

Lindholm could be the key signing. He and Backlund were reluctant to discuss contract extensions after the Flames missed the 2023 postseason, but there are reports that he and the team are in discussions. Sportsnet's Elliotte Friedman speculated on July 18 that it could cost between $8 million and $9 million annually to retain him.

Should Lindholm agree to stay, Backlund could follow suit. Hanifin had reportedly informed Calgary management that he was not interested in an extension. However, his departure could leave room to perhaps find a replacement through a trade or free agency.

The Flames could also put that money toward bolstering other areas of their roster.

Since 2018-19, the Carolina Hurricanes have been among the NHL's best clubs. They reached the Eastern Conference Finals in 2019 and 2023 and finished atop their division three straight years from 2020-21 to 2022-23.

Maintaining that roster, however, will be challenging after this season as several key players are due for new contracts. Top-four defensemen Brett Pesce and Brady Skjei are slated to become unrestricted free agents next July along with forward Teuvo Teräväinen. Restricted free agents include forwards Martin Nečas, Seth Jarvis and Jack Drury.

The Hurricanes have a projected $31.7 million in cap space for 2024-25 with 10 active roster players under contract. That $4 million increase in the salary cap could become a crucial factor in determining how many of those pending free agents will be re-signed.

It could come down to deciding between Pesce and Skjei on defense given the signing of Dmitry Orlov through 2024-25. Teräväinen's production slipped last season to 37 points in 68 games as he struggled with injuries. Nečas, Jarvis and Drury will be due for raises, perhaps significant ones depending on their respective performances.

The Hurricanes might not be able to re-sign all those key free agents, but that rise in the cap could make it easier to replace those who end up departing via trades or free agency.

Under general manager Mike Grier, the San Jose Sharks are attempting to retool their roster by adding younger talent to their group of long-time veterans such as Logan Couture and Tomas Hertl.

Having salary-cap flexibility could provide Grier with an opportunity to accelerate the process.

That flexibility will be aided by the anticipated increase in the salary cap for 2024-25. It provides the Sharks with $36.4 million in projected cap room with 14 active roster players under contract.

The Sharks have several players slated to become UFAs next summer. They include offseason acquisitions Anthony Duclair and Mike Hoffman along with Sharks veterans Kevin Labanc and Alexander Barabanov. Goaltender Kaapo Kähkönen is also eligible for UFA status, while recently acquired winger Filip Zadina is a restricted free agent.

Grier will have the cap room to retain any of those pending free agents should they perform well for the Sharks this season. If not, he will have plentiful space to replace them.

The Sharks could attempt to make a big splash in next year's free-agent pool. They could also use that cap space to target clubs looking to shed salaries for low-cost returns.

Salary-cap constraints weren't an issue for the Seattle Kraken through their first two seasons of NHL existence. During that period, their roster mostly consisted of players chosen in the expansion draft, though management did invest in free-agent signings and trades over that time.

Entering their third season, though, the Kraken are bumping up against the $83.5 million salary cap. Re-signing defenseman Vince Dunn to a four-year deal with an average annual value of $7.4 million was a contributing factor. So was signing free-agent blueliner Brian Dumoulin to a two-year contract with an AAV of $3.2 million.

The roster that reached the playoffs last season for the first time in franchise history remains largely intact. Their limited cap space for this season shouldn't adversely affect their ability to ice a competitive 23-man roster.

Next season, however, is when the Kraken will need salary-cap space. Including the expected $4 million rise in the 2024-25 cap, they have a projected $27.7 million of room with 13 active roster players under contract.

They'll need that space to re-sign or replace pending unrestricted free agents like Jordan Eberle, Alexander Wennberg and Justin Schultz. More importantly, they can use the room to re-sign restricted free-agent forwards Matty Beniers and Eeli Tolvanen to the significant raises they could seek should they perform as well or better than they did in 2022-23.

The flattened salary cap since 2020 has not been kind to the Tampa Bay Lightning. With core stars Steven Stamkos, Victor Hedman, Nikita Kucherov and Andrei Vasilevskiy under expensive long-term contracts, they often found themselves squeezed for cap space.

General manager Julien BriseBois had to get creative to find room to maintain a competitive roster. It usually involved making cost-cutting moves to bring in other players such as Nick Paul and Brandon Hagel. He also acquired players on permanent long-term injury reserve, such as Brent Seabrook and Marian Gaborik, to create additional cap wiggle room.

BriseBois' salary-cap gymnastics ensured the Lightning successfully defended their Stanley Cup in 2020-21 and returned to the Final in 2022. But it came at an ongoing cost to their roster depth.

Since 2020, key players such as Alex Killorn, Ondrej Palat, Ryan McDonagh, Blake Coleman, Barclay Goodrow, Corey Perry, Pat Maroon and Luke Schenn were traded away or departed as free agents. That steady loss of veteran talent has taken its toll on the Lightning's overall depth, contributing to their first-round exit from the 2023 playoffs.

The projected rise in the 2024-25 cap couldn't come at a better time for Tampa Bay. With Stamkos slated to become an unrestricted free agent, it will have a projected $19.1 million in cap space. That should be more than enough to retain its captain and leave enough to fill out the rest of the roster without making more salary-shedding moves.

For the first time since 2018-19, the Toronto Maple Leafs won't be heading into an offseason pressed for salary-cap space next summer. That's mainly because superstar center Auston Matthews and two-time 80-point winger William Nylander are slated to become unrestricted free agents.

The Leafs have a projected $46.7 million in cap space for 2024-25 with 11 active roster players under contract. While $4 million of that is due to the expected rise in the cap for that season, it could make a difference in how much they'll invest to retain Matthews and perhaps Nylander as well as fill out the rest of their roster.

Matthews will be the major signing. Completing a five-year contract with an average annual value of $11.6 million, he could receive an AAV of between $13 million and $14 million on his next deal. That will bite deeply into the Leafs' cap space, so that extra $4 million will be most welcome.

Nylander, meanwhile, is earning an AAV of $6.9 million on his current deal. On July 3, TSN's Chris Johnston reported the 27-year-old believes he's worth $10 million annually on his next contract. The Leafs could decide that's too much to invest in conjunction with Matthews' new contract, especially with Mitch Marner due for a big raise in 2025-26.

If they part ways with Nylander, they'll have plenty of space to invest in other areas of their roster. They could put the savings toward an experienced, reliable starting goaltender or a first-pairing, right-side defenseman to skate alongside Morgan Rielly.

Limited salary-cap space has been an issue for the Vancouver Canucks since 2019-20. Getting an extra $4 million in additional cap space for 2024-25 will provide them with a projected $32.5 million in cap space with 11 active roster players under contract.

It comes at an opportune time for the Canucks with emerging superstar center Elias Pettersson a restricted free agent with arbitration rights. He will have completed a three-year contract worth an average annual value of $7.4 million.

The 24-year-old led the Canucks last season with a career-best 102-point campaign. Another performance like that in 2023-24 could cost the Canucks between $10 million and $11 million annually to sign him to a long-term deal.

While that will take a significant portion of their cap space, it should ensure they have sufficient room to re-sign RFA defenseman Filip Hronek as well as enough to re-sign or replace pending unrestricted free agents like Anthony Beauvillier.

Blue-line depth has also been an issue for the Canucks in recent years. The expected rise in the cap could help them acquire some much-needed help for their defense corps.

The Winnipeg Jets will enter this season with starting goaltender Connor Hellebuyck and first-line center Mark Scheifele eligible to become unrestricted free agents next July.

Hellebuyck is reportedly not interested in signing a contract extension if the club intends to rebuild, and there's no indication of what Scheifele's intentions may be.

If Hellebuyck and/or Scheifele decide to stay, the Jets will need plentiful salary-cap room to sign them. Thanks in part to the projected rise in the cap for 2024-25, they'll have $34.2 million of cap room with 14 active roster players under contract.

They aren't the only pending UFAs the Jets must re-sign or replace next summer. Winger Nino Niederreiter, defensemen Brenden Dillon and Dylan DeMelo and backup goalie Laurent Brossoit are also eligible to test next summer's market.

The Jets also have a key restricted free agent in Cole Perfetti to re-sign. Their first-round pick in 2020, the 21-year-old center has shown promise over the past two seasons despite being sidelined by injuries. A healthy and productive performance in 2023-24 could put him in line for a healthy raise on his next deal.

Management could also engage in a roster retool if most of their UFAs decide to move on next summer. That extra $4 million could help them add another player or two they might otherwise not have been able to afford.

Salary info via Cap Friendly.