Numerous NHL players with the highest cap hits don’t have salaries that reflect those amounts, primarily due to the nature of front-loaded contracts as they progress through their terms. For instance, Connor McDavid continues to hold one of the league’s largest cap hits at $12.5 million, despite having signed his contract seven years ago. In contrast, his actual earnings, including his base salary and signing bonuses, have fallen to a modest $10 million when compared to other top-tier NHL talent.
When a player agrees to a long-term contract, both the team and the player must determine its structure. Some organizations prefer to distribute the payout evenly over the life of the contract, which allows the total salary disbursed to closely align with the cap hit. Conversely, other contracts may be front-loaded, resulting in higher payments during the initial years. This approach, especially if the contract includes fewer signing bonuses, makes the option of a buyout more feasible should that become necessary toward the end of the contract.
Thanks to PuckPedia’s player dashboard, we present a list of the top 50 highest-paid NHL players for the 2024-25 season. The athletes featured don’t necessarily possess the largest total value contracts remaining, and their cap hits may be significantly lower or higher than their reported salaries for this season. This ranking only takes into account the current league year, displaying the combined base salary and signing bonuses for the 2024-25 season.
Here are the NHL’s highest-paid players for the 2024-25 season, where the threshold is closer to the $10 million mark than ever before:
- Auston Matthews, Maple Leafs: $16.7MM
- Nathan MacKinnon, Avalanche: $16.5MM
- Elias Pettersson, Canucks: $14.5MM
- William Nylander, Maple Leafs: $13.5MM
- Jake Guentzel, Lightning: $13.26MM
- Rasmus Dahlin, Sabres: $13MM
David Pastrňák, Bruins: $13MM - Dougie Hamilton, Devils: $12.6MM
- Seth Jones
- Connor McDavid, Oilers: $12.5MM
Patrick Kane, Blackhawks: $12.5MM
Alex Pietrangelo, Golden Knights: $12.5MM - Sebastian Aho, Hurricanes: $12MM
Aleksander Barkov, Panthers: $12MM
Adam Fox, Rangers: $12MM
Darnell Nurse, Oilers: $12MM
Brayden Point, Lightning: $12MM - Charlie McAvoy, Bruins: $11.5MM
Zach Werenski, Blue Jackets: $11.5MM - Pierre-Luc Dubois, Capitals: $11.25MM
Roope Hintz, Stars: $11.25MM
Matthew Tkachuk, Panthers: $11.25MM - Timo Meier, Devils: $11.1MM
- Mikhail Sergachev, Utah: $11.05MM
- Drew Doughty, Kings: $11MM
Miro Heiskanen, Stars: $11MM
Erik Karlsson, Penguins: $11MM
Dylan Larkin, Red Wings: $11MM
Alex Ovechkin, Capitals: $11MM
Sam Reinhart, Panthers: $11MM
Mark Stone, Golden Knights: $11MM - Jordan Kyrou, Blues: $10.9MM
Robert Thomas, Blues: $10.9MM - Cale Makar, Avalanche: $10.6MM
- Jonathan Huberdeau, Flames: $10.5MM
Brady Tkachuk, Senators: $10.5MM
Mika Zibanejad, Rangers: $10.5MM - Tomáš Hertl, Golden Knights: $10.25MM
- Thomas Chabot, Senators: $10MM
Jack Eichel, Golden Knights: $10MM
Filip Forsberg, Predators: $10MM
Connor Hellebuyck, Jets: $10MM
Kirill Kaprizov, Wild: $10MM
Elias Lindholm, Bruins: $10MM
Connor McDavid, Oilers: $10MM
Artemi Panarin, Rangers: $10MM
Morgan Rielly, Maple Leafs: $10MM
Mark Scheifele, Jets: $10MM
Brady Skjei, Predators: $10MM
Nick Suzuki, Canadiens: $10MM
Andrei Vasilevskiy, Lightning: $10MM - Cole Caufield, Canadiens: $9.975MM
Image courtesy of USA Today Sports.
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Understanding NHL Salary Caps: The Discrepancy Between Cap Hits and Actual Earnings in 2024-25
What is the NHL Salary Cap?
The NHL salary cap is a system designed to promote parity among teams by limiting the total amount of money that can be spent on player salaries in a given season. Introduced in 2005 as part of the collective bargaining agreement (CBA) between the NHL and the NHL Players’ Association (NHLPA), it has evolved over the years to adapt to the changing landscape of the league. For the 2024-25 season, the salary cap is projected to be around $83.5 million.
Understanding Cap Hits
The term “cap hit” refers to the amount of a player’s contract that counts against a team’s salary cap in a given season. It can differ significantly from actual earnings due to various contract structures, including bonuses, signing bonuses, and performance incentives.
Components of Cap Hits
- Base Salary: The guaranteed amount paid to the player for the season.
- Signing Bonuses: Bonuses paid at the start of a contract that can significantly affect cap hits.
- Performance Bonuses: Additional payments contingent upon achieving specific performance metrics.
The Discrepancy Between Cap Hits and Actual Earnings
Many fans often confuse cap hits with actual earnings. While the cap hit represents the financial burden on a team’s salary cap, actual earnings include various elements that may not all contribute to the cap hit. Here’s how the discrepancy arises:
Factors Contributing to Discrepancy
- Signing Bonuses: Players might receive substantial signing bonuses that count against the cap but are paid upfront, impacting their overall earnings.
- Performance Bonuses: These can vary season to season and may not always be realized, affecting the player’s take-home pay.
- Contract Length: Longer contracts can spread out cap hits but may not reflect the player’s current market value, leading to variations between cap hits and actual earnings.
Case Studies: Notable Discrepancies in 2024-25 Season
Let’s take a look at a few players in the NHL for the 2024-25 season that illustrate the difference between their cap hits and actual earnings:
| Player Name | Team | Cap Hit | Actual Earnings |
|---|---|---|---|
| Auston Matthews | Toronto Maple Leafs | $11.6 million | $14 million |
| Connor McDavid | Edmonton Oilers | $12.5 million | $15 million |
| Alex Ovechkin | Washington Capitals | $9.5 million | $11 million |
Benefits of Understanding Salary Caps
Grasping the nuances of salary caps can provide several benefits for fans and analysts alike:
- Better Analysis: Understanding cap hits versus actual earnings allows fans to analyze player contracts more effectively.
- Enhanced Fan Engagement: Knowledge of salary cap mechanics can lead to more informed discussions around trades and free agency decisions.
- Informed Fantasy Hockey Decisions: For fantasy hockey players, knowing how salaries work can influence draft strategies and player selections.
Practical Tips for Fans and Analysts
Here are some practical tips for navigating the complexities of NHL salary caps:
Stay Updated
Follow reliable sources like CapFriendly for real-time updates on salary cap information and player contracts.
Understand Contract Structures
Familiarize yourself with the various types of contracts (e.g., ELCs, two-way contracts) as these can influence cap hits significantly.
Analyze Trends
Look for patterns in player contracts, especially during free agency. Understanding how cap space is utilized by teams can give you an edge in discussions.
First-Hand Experience: A Fan’s Perspective
As a long-time NHL fan, understanding the salary cap has changed the way I watch games and analyze player performance. Each offseason, I eagerly await the contract announcements, analyzing how these deals will impact my favorite team’s roster. I often find myself debating with friends about which players are overpaid or undervalued, and the salary cap knowledge I have gained gives me a solid foundation for those discussions.
Conclusion
The NHL salary cap is a complex system that plays a crucial role in shaping the league. By understanding the difference between cap hits and actual earnings, fans can gain deeper insights into the financial aspects of their favorite teams and players.
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