Sides OK $70.2M offseason cap

NEW YORK -- The NHL and NHL Players' Association have agreed on a $70.2 million salary cap for this offseason, the league announced Thursday.

The offseason cap will have a lower limit of $54.2 million, an adjusted midpoint of $62.2 million and an upper limit of $70.2 million for the 2012-13 season, pursuant to collective bargaining agreement negotiations.

It remains to be seen, however, if these figures will hold for the upcoming season. The current CBA expires Sept. 15, and the NHL and NHLPA begin labor talks Friday in New York.

The salary cap was $64.3 million this past season. It was $39 million in the first year of the current CBA back in 2005-06.