NJ.com: Cap Could Drop by as much as $2.5MM for 2009

As they compile their wish lists for the start of free agency beginning July 1, GMs will likely be facing the first decrease in the salary cap since it was instituted for the 2005-06 season.

The cap could drop by as much as $2.5 million for the 2009-10 season from its current $56.7 million figure, according to NHL deputy commissioner Bill Daly. Although Daly couldn't say, it is not inconceivable that the figure could fall to $50 million for the 2010-11 season.

via NHL general managers preparing for decrease in salary cap as free agency approaches - New Jersey Devils - NJ.com .