June 27, 2014 4:51 pm

NHL sets 2014-15 salary cap at $69 million

NHL Commissioner Gary Bettman speaks during a news conference before Game 1 of the NHL Stanley Cup Final hockey series between the Los Angeles Kings and the New York Rangers on Wednesday, June 4, 2014, in Los Angeles. (AP Photo/Jae C. Hong)

PHILADELPHIA – The salary cap for the 2014-’15 NHL season has been set at US$69 million, lower than many big-budget teams had hoped.

The league and Players’ Association announced the upper limit and $51-million floor Friday, a little over two hours before the start of the draft.

Original projections at December’s board of governors meeting were in the neighbourhood of $71 million. But the value of the Canadian dollar was believed to lower that.

The 2013-’14 cap was $64.3 million and the floor was $44 million.

© The Canadian Press, 2014

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