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PHF To Increase Salary Cap

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The Premier Hockey Federation has once again announced a major increase to its salary cap, raising the per-team ceiling to $1.5MM for 2023-24. That is twice as much as it was this season, and an incredibly large increase since 2021, when it was just $150K per team.

Reagan Carey, PHF commissioner, released a statement:

This historic salary cap increase reflects the strength of our league and developing business model, and supports an enhanced player experience that over the last year has introduced full healthcare benefits, facility upgrades, league expansion, and a record 84-game schedule.

We know how dedicated and selfless these players are to building more opportunities for women in sport, and the PHF is committed to prioritizing our support of these talented and skilled players on and off the ice. Players, alumni, staff, coaches, volunteers, partners, ownership, and our passionate fans have all been working towards ensuring full-time professional hockey is a career path for women.

The PHF is currently the only professional women’s hockey league in North America, though many of the best players are still touring with the PWHPA, which puts on showcase events across the continent.

The Boston Pride currently lead the way with a 7-1 record, while Brittany Howard is running away with the scoring race. The Toronto Six forward (and former PWHPA member) has 11 goals in eight games, five more than her closest competitor.

Bettman Updates Salary Cap Projection

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For everyone projecting a substantial salary cap increase for next season, commissioner Gary Bettman has a message for you: “we’ll see.” That’s what the executive told gathered media including Frank Seravalli of Daily Faceoff today at the board of governors meeting, explaining that the league is currently projecting a $70MM escrow balance at the end of the season. If that isn’t paid off in full by the players (through increased hockey-related revenue) the salary cap will be increased by just $1MM.

There has been some rumbling about a potential compromise with the NHLPA to increase it by a little over the next few seasons, instead of waiting for it to spike once the escrow balance is paid, but Bettman wouldn’t comment on that possibility.

That means the most likely outcome at this point is an $83.5MM cap ceiling for 2023-24. A much larger increase would follow in 2024-25 as that $70MM of debt would surely be paid off. Teams handing out long-term extensions or preparing for free agent negotiations will have to pinch a few extra pennies for a little while longer.

The interesting outcome that this could create is a number of free agents agreeing to one-year deals next offseason, knowing for certain that the cap would raise the following year. Restricted free agents may agree to more qualifying offers or go through the arbitration process instead of locking into multi-year bridge deals, and veterans could look to play out a single season before cashing in again when teams have some extra money to spend.

Either way, it appears as though true respite for the cap-strapped teams may still be a little way down the road.

Snapshots: Flames, Board Of Governors, Capitals

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The Calgary Flames are without two key players tonight as they take on the Montreal Canadiens. Before puck drop, the team announced center Elias Lindholm and defenseman MacKenzie Weegar are out with an upper-body injury and a non-COVID illness, respectively.

Mikael Backlund slides up to the top line in Lindholm’s absence, while Connor Mackey makes his sixth appearance of the season in place of Weegar. Lindholm isn’t quite producing at last year’s clip, but he still leads the team in scoring with 23 points in 28 games. Weegar’s yet to score his first goal as a member of the Flames, but has six assists in 28 games and is averaging over 20 minutes per game. Still, Calgary would like some more offense out of Weegar, who had a career-high 44 points last season as a member of the Florida Panthers.

  • Today wasn’t the most eventful opening day of the NHL’s Board of Governors’ meeting in Florida, but NHL.com’s Dan Rosen expects that to change tomorrow. Rosen notes that tomorrow’s docket includes salary cap projections for the 2023-24 season, updates regarding the ongoing sale process for the Ottawa Senators, and a potential fan code of conduct. NHL commissioner Gary Bettman will likely issue an update after tomorrow’s meetings conclude.
  • Speaking to reporters, including ESPN’s Greg Wyshynski, Washington Capitals owner Ted Leonsis said the team won’t enter a rebuild while Alex Ovechkin is still chasing the NHL’s all-time goals record. Ovechkin has noted a desire to remain competitive while chasing the record, vying for team and individual success. Leonsis also noted that Wayne Gretzky himself will be in attendance for all Capitals games as Ovechkin inches toward his record of 894 career goals.

Snapshots: Salary Cap, Senators, Hall Of Fame

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There will be a meeting of the Board of Governors next week at which time there will be another update about the projected salary cap for next season.  The most recent estimates were that if the escrow debt was repaid, the Upper Limit could jump to $86MM, an increase of $3.5MM from where it is now.  Meanwhile, if the debt wasn’t repaid, the increase would once again be limited to $1MM.

However, there could be a third option.  As Pierre LeBrun and Darren Dreger detailed in TSN’s latest Insider Trading segment, the NHLPA is polling its membership about their possible interest in smoothing out the cap increases over the next couple of years without affecting escrow.  That would likely result in a greater jump than $1MM next season which would allow for a bit more flexibility with so many teams capped out.  On the flip side, the anticipated jump once the escrow debt is paid off wouldn’t be as dramatic.  At this point, this is strictly a hypothetical scenario and it has not been discussed with the league just yet.

Elsewhere around the hockey world:

  • While it’s still unknown who the next owner of the Senators will be, expect actor Ryan Reynolds to be a part of the ownership group. Postmedia’s Bruce Garrioch reports that the league is making it clear to all prospective owners that they want Reynolds to be a minority partner in the purchase for whoever winds up buying the team.  Reynolds was initially planning to align with one bid but has been instructed by the league to hold off on doing so.
  • The IIHF has announced its 2023 Hall of Fame honorees, a list that includes three former NHL players in winger Henrik Zetterberg, defenseman Brian Leetch, and goaltender Cristobal Huet. Zetterberg, the long-time Red Wing, is the 21st member of the IIHF ‘Triple Gold’ club while Leetch suited up in 76 games internationally, including three appearances at the Olympics.  As for Huet, he played in 13 World Championships for France along with two Olympics.  Jimmy Foster and Caroline Ouellette were the others that will be entering the Hall in the player category.

Alex Iafallo Moved To LTIR, Austin Wagner Shuttled

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October 24: The Kings have now loaned Wagner back to the Reign, according to the team. The Kings did not have a game yesterday, and Wagner’s recall was likely just a paper transaction to optimize LTIR relief.

October 23: The Los Angeles Kings announced a series of roster moves this afternoon, headlined by forward Alex Iafallo, who has been moved from regular IR to LTIR. In addition to Iafallo, the Kings have loaned defenseman Jacob Moverare to the Ontario Reign of the AHL and recalled forward Austin Wagner. The move gives Los Angeles 14 forwards to go along with seven defensemen on its active roster.

Iafallo had already been out and on IR since October 18th with a lower-body injury which he suffered in a game on October 17th against the Detroit Red Wings, but placing him on LTIR will create additional cap space that allows the Kings to call up Wagner, who carries a $1.133MM cap hit while sending down Moverare and his $762.5K cap hit. Prior to the transaction, Los Angeles had $521K in cap space. Of note, due to Iafallo’s $4MM cap hit, his trip to LTIR will give the organization more than enough room to work with on the salary cap front while he’s out. Despite the injury, Iafallo has had a tremendous start to the season, contributing two goals and three assists in four games.

Sending Moverare down simply gives the Kings more flexibility when setting a lineup by subtracting their eighth defenseman for another forward, flexibility they’ll continue to need in Iafallo’s absence. The defenseman had yet to play a game this season in the NHL, but does have a pair of AHL contests under his belt in 2022-23, prior to his call-up on October 18th. Wagner on the other hand, is receiving his first call-up of the season after starting the year with Ontario. There, he has two points in three games to start.

Salary Cap Could Increase More Than Expected In 2023

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Speaking with the media today, NHL commissioner Gary Bettman said there’s a “good probability” that the remaining COVID-related escrow balance could be paid by the players this season, and remains optimistic about revenues. If the escrow balance gets paid off, the salary cap could jump more than the predicted $1MM incremental increase, two years sooner than originally expected coming out of the pandemic.

Bettman did note that it would be a close call, but if the revenue numbers hit, the cap could jump roughly $4MM to a figure of around $86.5MM for the 2023-24 season. The league’s cap growth would then mirror pre-pandemic trends, if not more.

This is gigantic news for a number of teams, especially those who have big-name free agents due for contracts by July 1 of next year. It also bodes well for teams tight to the salary cap to be able to have more roster flexibility in the offseason.

That list of big-name unrestricted free agents next summer is no joke, and a ~$4MM salary cap increase would have a massive effect on many negotiations. Ryan O’Reilly in St. Louis, David Pastrnak in Boston, Dylan Larkin in Detroit, Bo Horvat in Vancouver, and Frederik Andersen in Carolina are some notables who could re-sign with their current teams for a big payday.

It also makes life easier for teams like the Vegas Golden Knights, who are poised to get a healthy Robin Lehner back but already remain well over the currently projected $83.5MM salary cap for 2023-24.

Injury Updates: Montour, Timmins, DeBrusk, Edler

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Just ahead of their game this evening, the Florida Panthers announced that defenseman Brandon Montour would not play. Per the team announcement, Montour is suffering from an upper-body injury. It’s unclear exactly how Montour suffered the injury; the defenseman has played in each of the team’s first two games this season, playing 24:56 opening night and 21:44 in Saturday’s game against the Buffalo Sabres.

An interesting wrinkle in this is, because the Panthers have had to carry a light roster due to their position against the salary cap, they will not be replacing Montour in the lineup. Instead, the team will run with 17 skaters – twelve forwards and five on defense. Considering teams only need 18 skaters and a pair of goaltenders to field a full team, it would seem practical for a team in such a cap situation to only carry 18 players on the roster, however a situation like the one Florida faces this evening is a prime example of why that strategy could cause issues down the line.

  • Arizona Coyotes defenseman Conor Timmins will miss tonight’s game against the Toronto Maple Leafs with an upper-body injury, says the team. Fortunately for Timmins, who missed significant time last season due to injury, it appears he is only day-to-day.
  • Jake DeBrusk will make his return to the Boston Bruins lineup this evening after missing Boston’s last game. The winger was injured in the team’s opening night game against the Washington Capitals after playing just 11:06. Given Boston’s slate of injury issues, especially to winger Brad Marchand, getting the offensive-minded forward back in the lineup will be key to staying in contention while the team’s stars recover. DeBrusk will be taking the place of forward Jakub Lauko in the lineup. The Athletic’s Fluto Shinzawa was the first to report DeBrusk had re-entered the lineup.
  • Per the Los Angeles Kings, defenseman Alex Edler will not play in tonight’s game against the Detroit Red Wings. Edler was originally expected to be in the lineup, but took a puck to the face during warmups. The veteran defenseman will be replaced by Sean Walker. No update is available yet on how severe the injury is.

Carolina Hurricanes Recall Jordan Martinook

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After clearing waivers a few days ago, beloved forward Jordan Martinook is back up on an NHL roster with the Carolina Hurricanes. Evidently, the team has made the salary cap moves necessary to accommodate him on the active roster.

In a corresponding move, the team assigned forward Jamieson Rees and goalie Pyotr Kochetkov to the AHL’s Chicago Wolves.

Waiving Martinook and temporarily assigning him to the AHL allowed Carolina to optimize their cap space as much as possible prior to placing defenseman Jake Gardiner on long-term injured reserve to start the season. With Gardiner and his $4.05MM cap hit now on LTIR, the team now had the flexibility to recall Martinook.

He’ll likely reprise his role as the team’s fourth-line left wing, with AHL superstar Stefan Noesen serving as the team’s 13th forward for the time being. He’ll likely flank Derek Stepan and Ondrej Kase, making for a dynamic fourth line.

Vancouver Canucks Place Three On Injured Reserve

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There are many teams playing salary cap gymnastics today, though the award may have to go to Vancouver Canucks general manager Patrik Allvin. The Vancouver Canucks announced a series of roster moves today, most notably placing forward Ilya Mikheyev, as well as defensemen Tyler Myers and Travis Dermott, on injured reserve.

The team also loaned forward Linus Karlsson to AHL Abbotsford while recalling forward Danila Klimovich, a move expected to be reversed once their cap situation is settled. In doing so today, the team completed maximized their LTIR pool relief from Micheal Ferland’s contract, creating exactly zero dollars in cap space, allowing them to reap the full rewards of his $3.5MM cap hit. Ferland is unexpected to play again due to post-concussion syndrome.

In terms of the actual injuries, the three players can be activated from injured reserve at any time as their placement is retroactive to when their injuries were suffered during camp. Mikheyev remains week-to-week with a lower-body injury, while Myers is expected to miss about two and a half more weeks with a lower-body injury (he was given a three-week timeline last week). Dermott is day-to-day after suffering a concussion approximately two weeks ago.

Vancouver joined Toronto, Vegas, Tampa Bay, Edmonton, and Carolina as teams who had maxed their LTIR relief pools to within $100,000.

Waivers: 10/07/22

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It’s an important day for waivers as the regular season approaches, and several potential targets are available. With the preseason wrapping up, teams will try to sneak players through at the last second and keep them in the organization for the time being.

Many of these placements are due to salary cap restrictions or LTIR machinations to give teams maximum flexibility as the season begins. Everyone from yesterday’s list cleared.

Here is today’s group of waiver additions:

Carolina Hurricanes

Jordan Martinook

Dallas Stars

Anton Khudobin

Edmonton Oilers

Mattias Janmark
Dmitri Samorukov

Minnesota Wild

Steven Fogarty

New Jersey Devils

Andreas Johnsson
Brian Pinho

Philadelphia Flyers

Kevin Connauton
Troy Grosenick

St. Louis Blues

Martin Frk
Klim Kostin
Matthew Highmore

Vancouver Canucks

Justin Dowling

Winnipeg Jets

Johnathan Kovacevic

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