Gary Bettman: 2023-24 salary cap to rise by just $1M

The modest salary cap boost comes despite Bettman’s claim that league revenue should reach $6B in 2023-24.

An extra million will help teams like the Minnesota Wild and Vancouver Canucks, who perpetually struggle to remain cap compliant, but does little to change the business landscape of a league notorious for falling behind the other “big four” North American sports in player wages.

Connor McDavid, the most dominant forward in modern NHL history and perhaps the best team-sport athlete in the world, is currently the highest-paid player in the league. McDavid makes $12.5M AAV and signed one of just four $100M-dollar deals in NHL history in 2018.

For comparison, James McCann of the MLB Baltimore Orioles and Robert Covington of the NBA Los Angeles Clippers make near-identical amounts for middling contributions to their respective sports. McCann’s is the 113th-highest salary in his league, while Covington’s comes in at 112th.

From a sporting standpoint, the Toronto Maple Leafs will be the team most concerned with the news.

Star center Auston Matthews is eligible to negotiate an extension starting this summer. He will likely sign the most lucrative contract in NHL history.

Matthews, the 2021-22 Hart Trophy winner, and his representation would have noted Bettman’s suggestion that the cap will rise much higher in the summer of 2024.

That makes new Toronto GM Brad Treliving’s task of dissuading the American from testing free agency much more complicated.

Other 2024 free agents who could hold out for big raises include Sebastian Aho, Jake Guentzel, and Connor Hellebuyck.