A bigger pie means bigger slices, and the NHL salary cap increase proves that perfectly. As per the NHL-NHLPA collective bargaining agreement, the salary cap will rise to $104 million in 2026-27, which is an $8.5 million increase from last year. On the other hand, the floor reaches $76.9 million, and the maximum salary hits $20.8 million. But what does this extra money mean for teams and players?

The higher cap also means teams can pay their players more; that’s why the maximum salary for one player will increase to $20.8 million. After the increase, Minnesota Wild star Kirill Kaprizov will become the NHL’s highest-paid player as his new $17 million-per-year contract will start next season.

Now, the rising salary cap will bring in more money to the league. But how? As the league makes more money, players also receive a bigger share because their salaries are connected to the league’s Hockey Related Revenue. The NHL keeps its 50-50 revenue-sharing system under the new CBA. Since 2013, the league and players have split Hockey Related Revenue equally.

This success comes from major events such as the 4 Nations Face-Off, the Olympics, and the upcoming World Cup. This helps in attracting more fans, viewers, sponsors, and revenue. Plus, the NHL and NHL Players’ Association agreed to extend their Collective Bargaining Agreement through the 2029-30 season. The current deal expires on September 15, 2026, and the new extension starts the next day.

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But where is that additional revenue coming from? Commissioner Gary Bettman said NHL arenas are about 96% full during the regular season, while playoff games fill more than 100% of available capacity.

They will also get a big boost from their new deal with Rogers in Canada.  As their 12-year agreement is worth C$11 billion, or about US$7.9 billion, this deal will more than double the NHL’s yearly media-rights money in Canada.

On top of it, the NHL still has two seasons left on its U.S. national TV deals with Disney, which includes ABC and ESPN, and Warner Bros. Discovery Sports, which includes TNT. These deals help the NHL make money by giving broadcasters the rights to show its games on television and streaming platforms. This makes media rights an important part of the league’s total revenue.

Bettman said the NHL will begin exclusive talks with its current U.S. media partners in 2027. If the NHL can secure strong new media agreements, it could bring in even more money in the future. That additional revenue could then help support the league’s growing salary cap.

The salary cap as a growth indicator

As the salary cap rises, players gain more power in contract talks. Teams have more money available, so star players and their agents can ask for bigger deals. Some players may also choose shorter contracts so they can negotiate again when the cap rises even more. For teams, however, a higher cap does not simply mean they can spend freely. They still need to manage their money carefully and decide which players deserve the biggest contracts. As TV deals, sponsorships, ticket sales and other business areas bring in more money, the salary cap can continue to grow.

The cap goes from $88 million to $95.5 million in 2025-26, $104 million in 2026-27, and an estimated $113.5 million in 2027-28.  So, the rising cap is not just a number for teams to follow. It also shows that the NHL’s business is growing and that players can benefit from that growth through bigger contracts.

Why is hockey suddenly attracting more eyeballs?

Several factors add up to the hype around NHL games. Gary Bettman has pointed to several reasons why hockey is reaching more people. The 4 Nations Face-Off, the Olympics and other international hockey events give fans more chances to watch the sport’s biggest stars. The NHL’s return to the 2026 Olympics also shows stronger cooperation between the NHL, NHLPA and IIHF.

Shows outside traditional sports coverage are helping too. “Heated Rivalry” became a major streaming hit and brought more attention to hockey players and their stories. “Off Campus” is another example of hockey content reaching audiences beyond regular NHL coverage. Together, these events and shows are helping hockey reach people who may not normally watch NHL games.

“I think we’re experiencing a moment in time where our players and our game are truly getting the recognition that they deserve, and it’s being reflected in engagement by fans; current hockey fans watching even more and sports fans, casual fans coming to give us a look, liking what they see and coming back,” Bettman further added.

The international hockey effect

But along with that, its international fan base is also adding to the hype. Last year’s opening-night rosters had 726 players, including 304 Canadians and 195 Americans.

This international mix also helps connect the NHL with major events like the Olympics. The NHL said 91% of its players came from the 12 countries competing in the 2026 Winter Olympics. The rosters included players from 20 birth countries and 17 nationalities.

Events like the Four Nations Face-Off grabs more fan attention. And can add to more views and increase business value.

How much is an NHL superstar actually worth to the league?

A superstar can be worth more to the NHL than just his salary. For example, Kirill Kaprizov may earn $17 million from his team, but his popularity can also help the team and league make money in other ways.

Jersey sales are a simple example. The NHL’s official store currently ranks Sidney Crosby as the top-selling player jersey. Nathan MacKinnon, Alex Ovechkin, Connor McDavid and Auston Matthews also rank among the top sellers. The NHL has also previously named Crosby its top-selling player.

The NHL also makes more money when fans buy merchandise. In the 2016-17 season, merchandise sales grew 14%, while jersey sales increased 11%. Popular players can encourage fans to spend more money on jerseys and other NHL products.

Stars like Connor McDavid, Alex Ovechkin, Auston Matthews and Kirill Kaprizov can also help the NHL in other ways. Their popularity can bring more people to games, attract more viewers and increase social-media attention. A big fanbase also helps in bringing sponsors.

And more views too. The 2025 Stanley Cup Final between the Edmonton Oilers and Connor McDavid’s team and the Florida Panthers drew 4.39 million viewers in Canada.

The NHL has often earned less attention in the U.S. sports business than the NFL, NBA and MLB. But the league’s rising salary cap shows that its business is growing.

The $104 million salary cap for next season is therefore more than just a spending limit for teams. It also shows that more money is moving through the NHL. If Hockey Related Revenue keeps growing, the league could continue raising the cap, and it will be interesting to see how high the NHL’s financial ceiling can go.