The NHL's salary cap will jump by more than $4 million for the 2018-19 season, after receiving approval from the players' union.
Needless to say, that is good news for the Penguins as the league's free agent signing period begins July 1, even if some reports over the past few months had indicated the jump could be in the $6 million-$7 million range.
Last season's cap limit was $75 million but will jump to $79.5 for next season, according to Sportsnet's Chris Johnston:
Gary Bettman says next year's salary cap will fall between $79.5M and $80M. Still needs to be finalized with NHLPA.
— Chris Johnston (@reporterchris) June 20, 2018
This would be the largest jump since 2014-15 when the cap went from $64.3 the year prior to $69 million.
The Penguins have a handful of notable restricted free agents that Jim Rutherford told DKPittsburghSports.com last week that he plans to qualify. That list includes Riley Sheahan, Jamie Oleksiak, Bryan Rust, Tom Kuhnhackl and Daniel Sprong. The Penguins currently have $70.2 million committed to next season but Rutherford said that, no matter how much the increase, he expects his team to be up against the cap again in 2018-19.
The numbers are reflective of a fairly robust league economy. Consider this: When the cap was installed after the 2004-05 lockout, it stood at just $39 million.