That's almost a $5-Million jump.
I'm guessing business is going good for the frozen pond? Well with the $2-Billion the NHL will receive over the next decade from Versus and NBC, I'd say so. Just take a look at the 2005-06 season after the NHL came out of its lockout; the cap was only $39-Million!
"Only $39-Million." That's hilarious given the state of the economy and our nation's unemployment issue. Also the fact we've got a reality television show called "Extreme Couponing" that entertains its viewers by showing full grown women diving into packed dumpsters just for the chance of finding a slip of newspaper that promises them $0.76 off a brand of peas.
But whatever. The official rise in the cap is going to help our Philadelphia Flyers, big time.
I don't believe I need to remind you of the whole Bryzgalov thing.
Well, it's rumored that he'll sign on board with a $5.5M / 5-Year contract with Philly, and with all that extra room GM Paul Holmgren's gets to play around with, I imagine a few sighs of relief will escape our club's war room.
Though it has still not come out whose salary Holmgren was going to dump/deal to make the necessary room for Bryzgalov, this nearly $5-Million increase is going to aid in his decision -- That is, if he hasn't made one already.
But don't be fooled; Paul will still need to get rid of a significant amount of salary in order to sign Ilya, stay under the cap, and also reserve enough room for next season in case injury(ies) beg for an executive decision.
According to CapGeek.com's Cap Calculator, as of this moment with the salary cap increase the Philadelphia Flyers have gone from $430,845 to $5,030,845 in cap space.
A quick addition:
Not only will Holmgren still need to lose some salary to sign Bryz and keep space for possible injuries in the 2011-12 season, but to also have a bunch of coinage saved to sign the FA's in 2012.