NHL returns significant funds to players through escrow
The NHL is about to return a huge lumpsum of money to players throughout the league, every players who had a contract in the 2023-24 season to be exact.
This benefits players with highly priced contracts, much like Chicago Blackhawks defensemen Seth Jones, and his whopping $9.5 million dollar annual salary.
On top of his $9.5 million dollar deal, Jones will receive a $570,000 US dollar incentive from the NHL due to the players paying into an escrow, which has not been paid back.
Good news: #NHL players are on track to potentially have all 6 percent of their salary returned that was withheld in escrow this season. In fact, depending on final accounting, they could even be in line for a "top up" payment.
Said NHL reporter Frank Seravalli.
NHL Players' Association executive director Marty Walsh said on Saturday.
«I think right now we're close,» Walsh said before Game 1 of the Stanley Cup Final. «I mean, I'm not sure because we don't have the final numbers obviously, but you know, it certainly looks very good, very promising – compared to where the players have had to pay for the last 10 years, it's been a lot. We're nowhere near that situation.»
Thankfully for the owners, the salary cap may also go up at the same time:
«I predict it will continue to go up,» Bettman said on Saturday at his annual State of the League address ahead of the Final. «Obviously, the number of years we had with flat and modest increases was necessary to recapture how much was overpaid and how much the escrow built up during COVID. I believe we're going to continue to see robust growth in the cap.»
Seth Jones, and the entire Blackhawks roster will be getting paid by the Wirtz family!
