The NHL revealed a $4.5 million rise in the salary cap, yet the Toronto Maple Leafs have already tapped into that allowance, leaving them with restricted options for the upcoming summer.
Yesterday, Gary Bettman disclosed that the salary cap for the 2024-25 season will be established at $88 million, marking a $4.5 million rise from the previous year's $83.5 million limit. This exceeded the expected increase of $4.2 million by $300 thousand. Consequently, every team in the league will have slightly more flexibility than initially anticipated.
However, the Leafs won't reap significant benefits from this increase in the short term. Over the past year, the team committed significant funds to signing both Auston Matthews and William Nylander to substantial contract extensions. Nylander's new deal, which kicks in next season, carries an $11.5 million cap hit, a considerable jump from his previous contract.
Regrettably for the Leafs, Auston Matthews' four-year extension also takes effect next season. Matthews will hold the title of the NHL's highest-paid player, with an AAV of $13.5 million. Consequently, the Leafs will allocate $25 million to just two players.
Moreover, this means that the Leafs have already utilized the $4.5 million increase. Currently, the team holds just under $19 million in cap space, with only 10 forwards, five defensemen, and one goaltender under contract. They still need to fill seven roster positions. Stay tuned this summer to see how the team leverages its remaining cap room to bolster the roster as much as possible.
