After months of speculation and some estimates that the salary cap would exceed $70 million for next season, the NHL and NHLPA announced the official number for 2014-15, and it's less than many anticipated.
The salary cap for next season has been set at $69 million on the nose with the salary floor coming in at $51 million.
With the number coming in below $70 million it means that already both of the Blackhawks and the Flyers are over the salary cap according to Cap Geek but at least in Chicago's case they have a full roster signed for next season already. The Flyers still have work to do as do the Bruins, who are less than $2 million from the cap already.
This wasn't exactly the number a lot of teams were hoping to hear.
On the other end of the spectrum almost half the league is below the floor at this point but with free agency still to come, it won't be a problem for most to get there. But look for Buffalo to throw some mega money at a few players just to get to the limit as they listed as being $16 million below the floor with 15 players signed already.
Now that the upper and lower limits have been defined, general managers can adequately plan for Tuesday when free agency opens up. As is always the case, there should be some dollars flying with the cap going up nearly $5 million over last season's mark.