NHL sets 2014-15 salary cap at $69M

The salary cap for the 2014-15 NHL season has been set at $69 million US, 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.