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NHL Salary Cap Essay

1996 Words8 Pages

The NHL Salary Cap has been around for many years. It is to ensure that a team gets a fair amount of money so that they have the same chance to offer a player a contract as any other team. The Salary cap does this by splitting the revenue between the players' and owners. It then (gets broken down into) breaks it down into specific teams. When the NHL owners and general managers (GMs) discuss the details of the Salary Cap with the players who are represented by the National Hockey League Player’s Association (NHLPA), they must come to an agreement called a collective bargaining agreement (CBA). If they cannot reach an agreement, the next season cannot start. An issue like this occurred both in 2004 and in 2012 (Canadian 4). During the lockout, the two parties could not agree on a contract. As a result, the season was delayed until an agreement was reached. After the lockout, the decision was made that the salary for each team would increase annually. Also, the owners and GMs split the revenue between themselves and the players. The revenue is put into the owners’ and GMs’ pay including the players. The NHL’s salary cap also exists to evenly spread the …show more content…

It stated that the money shared between players and owners must be split 50/50 every season (Canadian 4). The committee that oversaw the financial division in the old CBA is still in use in the new CBA. They decided that the lower limit for a team’s payroll will be $44 million and the upper limit for a team’s payroll will be $60 million (News 2). A small fraction of the revenue brought in is from TV contracts. “Hockey Night in Canada” paid over $600 million over 6 years to own the rights to broadcast games on television in Canada. NBC will pay the NHL $6 billion over the course of 10 years (Baert 15). The revenue will increase for all teams by $200 million annually (Canadian

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