Pittsburgh (KDKA)- The Pittsburgh Penguins will have some tough financial decisions to make this off-season but they’ll be helped by an increase in the NHL salary cap.
Bill Daly, the deputy commissioner of the NHL, announced that the salary cap will go up as it has each year since the current collective agreement went into effect for the 2005-06 season.
The league is expected to post record revenue of close to $3 billion for the 2010-11 season. If that number is accurate that would be an increase of over $200 million from the previous season. The salary cap is based on the league’s related revenue.
The salary cap last season was $59.4 million and Daly hinted that it could rise to as much as $63.5 million for next season.
That’s good news for the Pittsburgh Penguins, who sell out every game and make plenty of money from the Consol Energy Center.