The salary cap's upper limit for the 2019-20 season has been set to $81.5 million, the NHL announced Saturday following the completion of the draft. The salary cap floor has been set to $60.2 million.
At the Board of Governors meetings in December, Gary Bettman projected that the upper limit of the salary cap would be $83 million. Uncertainty on the final number prevented some teams from making major moves during this weekend's draft.
The 2018-19 upper limit was $79.1 million, with a floor of $58.8 million.
The new salary cap upper limit leaves the Penguins currently with $3,892,500 in projected salary cap space for next season with 10 forwards, seven defensemen, and two goaltenders under contract.
The Golden Knights are currently the only team above the upper limit, with a cap hit of $83,124,999. The Flyers, Jets, Devils, Blue Jackets, Senators, and Avalanche are the only teams below the salary cap floor.