PHF salary cap to double to $1.5 million 2023-24 season
The Premier Hockey Federation has announced that they will be doubling their salary cap for the 2023-24 season from $750,000 to $1.5 million.
The Premier Hockey Federation has announced a significant salary cap increase for next season, doubling the amount from $750,000 to $1.5 million per team in 2023-24.
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“This historic salary cap increase reflects the strength of our league and developing business model, and supports an enhanced player experience that over the last year has introduced full healthcare benefits, facility upgrades, league expansion, and a record 84-game schedule,” said PHF commissioner Reagan Carey in a statement. “We know how dedicated and selfless these players are to building more opportunities for women in sport, and the PHF is committed to prioritizing our support of these talented and skilled players on and off the ice. Players, alumni, staff, coaches, volunteers, partners, ownership, and our passionate fans have all been working towards ensuring full-time professional hockey is a career path for women.”
This is the third season in a row that the salary cap will be raised for the PHF, marking a 900% increase from their 2020-21 salary cap of $150,000.
Each team currently has enough contracts that make up more than 75% of their salary cap this season. While not all player salaries are made public, the ones that are range from $13,500 to $80,000.
“We will not stop here, and are very proud to continue our track record of establishing new records for women’s professional hockey,” said Carey. “The PHF was the first league to pay its players back in 2015, and our commitment to building the best home for women’s professional hockey requires us to continue leading the way forward. Greater financial opportunities for athletes is part of the new PHF era. We are doing the work, and we are seeing the results.”
It’s one of the many things the PHF has done recently to improve and popularize its league. They also made a deal with ESPN and TSN before the 2022-23 season to broadcast games, and also announced a $25 million investment from the Board of Governors in January that will go towards player salaries and benefits.