The evolution of the salary cap in the National Hockey League (NHL) is a tale of how the league sought to balance competition, ensure financial stability, and maintain parity among its teams. The concept is not new to the NHL; it has been attempted previously, dating back to the Great Depression when the cap was set at $62,500 per team and $7,000 per player. However, the modern salary cap, as we know it today, was introduced in the 2005-06 season following the 2004-05 lockout, which resulted in the cancellation of an entire season. This marked a pivotal moment in NHL history, leading to the current system, designed to address the high cost of salaries relative to team revenues.
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