As I said though there is a fair bit of cover already from the current revenue which Bettman suggested would be in the $6.7M+ level for this year. That would already be enough to support a cap of about $100M without any significant escrow from the players. Even modest growth in 3% range gets you to close to $110M by year two of the McDavid deal.
One thing that is often ignored is that many of the Leagues biggest sponsorship deals have built in escalators.
One question mark is the next Canadian TV deal. There have been claims that Rogers lost money on the last deal but that may not matter. There is speculation that the move to streaming may trigger a huge gain in the total package. CNBC has suggested that the combined package could be $10B which would be close to double the last deal.
The NHL has suggested that their revenue target for the end of the decade is $10B per year. That boggles the mind but so far they have been pretty good at hitting their targets. At that revenue level the players share might be close to $150M per year. Personally, I remain skeptical of this number but I could easily see a $120M cap by then.
Report: NHL looking for double amount in Canada media rights deal