Yesterday the Premier Hockey Federation (PHF) made a major announcement. The Board of Directors had agreed to invest more than $25 million over the next three years. This dollar figure is intended to raise salaries and increase benefits for the players.
The PHF is excited to announce a commitment from the Board of Governors to invest over $25 million in direct payments to its players over the next three years, with a salary cap increase up to $750,000 per team for next season.— PHF (@PHF) January 18, 2022
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They threw out a new salary cap for next season of $750,000 as compared to the current cap of $300,000. The new value is equivalent to the NHL minimum salary for a single player but marks an increase of 150%. Other areas of improvement include updating facilities, giving players new equipment and adding both practices and games to the schedule. A major point in talks with the PWHPA was health insurance and maternity leave which appear to be part of this deal.
Also highlighted in the release was the fact that players will get 10% of equity from each team and control their own Name, Image, and Likeness (NIL). This allows the players to profit more on success of the league.
The other half of the release talked expansion. The seventh team to Montreal was confirmed and then another US based team or teams to broaden the footprint in the US was discusses. The PHF says they will discuss the expansion talk more fully at a later date.