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.
