Salary cap going up to $50.3 million

In a news release today out of New York and Toronto: “The National Hockey League Players’ Association and the National Hockey League announced today that the Team Payroll Range established for the 2007-08 League Year, pursuant to the Collective Bargaining Agreement, provides for a Lower Limit of $34.3 million, an Adjusted Midpoint of $42.3 million and an Upper Limit of $50.3 million.”

That’s a $6-million increase over the $44-million cap for the 2006-07 campaign. The cap has gone up more than $11 million from the $39-million limit imposed after the season-long lockout.

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