A significant salary-cap increase for the 2023-24 NHL season now appears unlikely.

Commissioner Gary Bettman said the league is projecting a $70-million escrow balance at the end of the 2022-23 season, which would result in the cap ceiling rising by just $1 million to $83.5 million for next year, according to Daily Faceoff's Frank Seravalli.

Bettman said in October that players were likely to pay off the escrow balance by the end of the season, which would've resulted in an increase of about $4 million.

A preseason report projected an $83.5-million cap for next season but approximately $88 million for 2024-25 and $92 million for 2025-26.

The NHL salary cap was stuck at $81.5 million for the previous three seasons due to pandemic-related revenue losses. It rose to $82.5 million for the current campaign.

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