NHL salary cap to go to $56.7M next season with a $6.4M increase

NEW YORK -- The NHL's salary cap is on the rise again.

The league and the NHL Players Association announced Thursday that each team will have a maximum of $56.7 million to spend for the 2008-09 season -- up $6.4 million from last season.

The minimum salary was set at $40.7 million for each of the 30 teams. The most money a player can earn in a new contract next season is $11.34 million a year.

In 2006-07, the salary cap was $44 million. Last year, it was $50.3 million.