Average salary dropping from '03-04
Salaries of National Hockey League players who have signed new contracts this summer have decreased by more than five percent, according to data assembled by The Hockey News.
Of 72 restricted and unrestricted NHL free agents who agreed to new contracts between the end of the Stanley Cup final and mid-July, 28 (39 percent) are taking pay cuts in 2004-05, 10 (14 percent) will earn the same amount, while 34 (47 percent) are getting raises.
The average salary of the 72 players decreased from $1.68 million in 2003-04 to $1.59 million in 2004-05 (5.5 per cent).
The results of the salary survey suggest teams are keeping a close watch on payrolls heading into a possible NHL lockout this fall. It is expected a new collective bargaining agreement will include a luxury tax on high payrolls or a salary cap.
The highest free agent contract thus far was signed by Toronto goalie Ed Belfour, who will earn $8 million in 2004-05. New Jersey forward John Madden is next at $4 million.
Many of the players who received raises were restricted free agents earning less than the average salary who had to be offered a 10-percent increase for the team to retain the playerıs rights. The league average salary in 2003-04 was approximately $1.8 million.
Most of the highest profile restricted and unrestricted free agents remain unsigned. The trend of lower salaries is likely to continue once eventual new contracts for these players are factored in, the paper reported.
The list of restricted free agents yet to sign includes Dany Heatley, Jarome Iginla, Ilya Kovalchuk, Joe Thornton and Scott Niedermayer.
Unrestricted free agents still on the market include Pavol Demitra, Brett Hull, Alexei Kovalev, Peter Nedved and Brendan Shanahan.
The free-agent salary data appears in the August issue of The Hockey News.
Material from The Hockey News.
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