That doesn't affect rich people.
1. Yes, it does.
2. The league's revenue doesn't come exclusively from rich people. The number I saw yesterday was that in the 23-24 season, 2.8 billion of the leaque's 6.8 billion in revenue came from gate receipts (I'm not sure if that is solely ticket prices, or also includes concessions, etc.). While true, there are rich ticket holders that are in a far better position to maintain discretionary spending levels, that certainly doesn't make up the bulk of the fan base. Aside from resulting in empty seats and less in-arena purchases, it may also correlate with lower ticket prices. As discretionary spending decreases, so do advertising dollars. I know the league just signed a huge extension with Sportsnet, but I believe the U.S. contracts are up for renewal soon (I may be wrong about that), and local media rights are constantly up for renewal.
3. I don't see how the shitshow that the dumbass-in-chief has initiated would have been factored into the equation for upcoming revenue projections (not your comment, I just saw it above). The league stopped taking escrow payments in December/January, and came up with their cap projections while the last administration was in office and the US economy was purring along. Now there's a 50/50 chance the U.S. economy slides into recession, and a near 100% chance the Canadian one does (3 of the top 5 revenue generating clubs are Canadian). True, Montreal and Toronto have a wide enough fanbase that it may not impact them severely, but I don't think Edmonton will stay #1.
All of this is to say that don't think it's set in stone that the cap will rise in the manner and pace previously anticipated. Getting back to Hutson, he may decide to sign a bridge to see how things look in a few years, or he may seek to capitalize on current projections, hedging against a decline (or at least leveling off) of HRR. I don't think there's a wrong choice there. It will come down to how he views his security. And the cap projections are just one of many factors a player considers. If he signs for 8 years, he's guaranteed generational wealth. If he bridges and sustains an injury or an unexpected decline, he may lose out on his opportunity.
Last note, don't underestimate the culture of the locker room. The entire first line signed 8-year extensions coming out of their ELCs. I don't know what type of person he is or what he values, but there may be external pressures as well that the public at large are privy to. Food for thought.
