The NHL's salary cap ceiling officially rose by $1 million to $83.5 million for 2023-24, according to Sportsnet's Elliotte Friedman.

The floor will be $61.7 million, while the maximum salary is $16.7 million, Friedman adds.

In October, commissioner Gary Bettman said the players' escrow balance was likely to be paid off by the end of the season, which would've allowed for a cap ceiling increase of approximately $4 million. However, two months later, Bettman said the league projected a $70-million escrow balance, which meant a cap ceiling increase of only $1 million from the $82.5-million figure of this past campaign.

The cap remained at $81.5 million for three seasons due to the pandemic before rising in 2022-23.

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