December 09, 2013 - 5:35 PM
PEBBLE BEACH, Calif. - The NHL board of governors has approved the $5.2-billion, 12-year Canadian television rights deal with Rogers Communications Inc.
It came as no surprise that the deal, which begins next season and runs through 2025-26, passed as it will be a major windfall around the league.
Commissioner Gary Bettman was set to announce next year's projected salary cap during Monday's meeting at the Inn at Spanish Bay.
An increase of roughly 10 per cent from this year's upper limit of US$64.3 million was expected.
That would represent a major bounce-back for the league less than year removed from the end of a contentious lockout.
Teams were allowed to spend up to US$70.2 million during the lockout-shortened 2013 season as part of a transition year before the cap went down in accordance with the 50/50 split of hockey-related revenue that was agreed to as part of the new collective bargaining agreement.
The lucrative deal with Rogers is expected to boost the salary cap even further beginning in the 2015-16 season, since the cheques start rolling in to the NHL beginning next year.
"It's all good news if revenues are going up," Phoenix Coyotes president and CEO Anthony LeBlanc said.
News from © The Canadian Press, 2013