Geek is correct, it is a hard cap.
That said there is a way for teams to go over. I am not even sure I am correct, but this may get someone in the know to brake it down if I am incorrect.
A team can go over the cap through bonuses. If a team offers bonuses and players meet the required numbers, the bonuses are added to the the team salary and if they go over the cap the team is penalized a la the Black Hawks.
The NHL cap for 2010/11 is $59.4 while Chicago's cap is $55.+. They are penalized $4.+ for going over which is why they had to get rid of so many players.
That said there is a way for teams to go over. I am not even sure I am correct, but this may get someone in the know to brake it down if I am incorrect.
A team can go over the cap through bonuses. If a team offers bonuses and players meet the required numbers, the bonuses are added to the the team salary and if they go over the cap the team is penalized a la the Black Hawks.
The NHL cap for 2010/11 is $59.4 while Chicago's cap is $55.+. They are penalized $4.+ for going over which is why they had to get rid of so many players.