| The Huffington Post | The Boston Globe title What you need to know about the NHL’s annual tax-free shopping spree article The NHL’s tax-exempt shopping spree continues as the league announced Monday that the salary cap is set to rise by $200 million, bringing the total for the upcoming season to $1.5 billion.
The total includes $300 million for the NHLPA, $150 million for hockey operations, and $70 million for player salaries.
The league announced the news to reporters at the NHL Draft on Monday morning.
“The salary cap increase was a critical step in helping the league grow our business and create opportunities for our players and fans,” NHL commissioner Gary Bettman said.
“This increase is the result of a successful effort to align our finances to grow the game in a sustainable manner.”
The increase, which was approved by the owners and NHLPA on Tuesday, would see the salary caps rise from $73 million to $80 million.
The NHLPA had been trying to increase the cap in the summer of 2015, but the union said it could not reach a deal with owners who wanted to increase cap spending, despite several meetings with the league.
“This is another step in our efforts to increase revenue and to expand the market for the league,” NHL Commissioner Gary Bettmann said in a statement.
“The cap increase is an important step towards reaching our goals, and it reflects the fact that our collective bargaining agreement allows for a greater share of the revenue pie to go to players and teams.
We continue to make progress and expect to be able to announce further revenue increases in the coming weeks.”
The league also announced the expansion of the Stanley Cup Playoffs to 20 teams.
The expansion team will be announced at the beginning of next season, with the new team to begin play in 2021.
The NHLPA said it would work with players and players’ associations to reach a consensus on how to raise revenue, but that it would be up to the owners to decide how to spend it.
The union said that the NHL should be required to give the owners a share of any increase in revenue that occurs in the next five years.
The NBA also raised its cap by $60 million in March to $75 million, which would bring the total to $130 million.
The NHL has a strong history of tax-friendly spending, but there have been a few cases where it has paid less than it should.
The last time it had a cap that was higher than its current $73.5 million was in 2015-16, when the league paid out $8.7 million to a handful of owners in exchange for a series of trades and other moves.
While the league is the largest in the world, it is not the only major sports league in the United States.
The NFL is the most profitable team in the NFL, and Major League Baseball is the biggest team in MLB.
In fact, Major League Soccer is the second-largest sports league after the NFL.