Last night the Premier Hockey Federation sent out a Press Release announcing that an announcement would be made today at 7a ET regarding “it’s future in the sport.” What that line meant when everyone saw it brought both optimism and cautious worry. Optimism because it could mean expansion or a new TV deal to help grow the game, but cautious worry after seeing what happened with the CWHL folding a few years ago.
One thing of note going into this was that at the time of the Monday night Press Release was that the players didn’t know what the announcement was about.
So for twelve hours we all waited with anticipation to what the PHF would be announcing, and 7a ET we learned that the PHF will be getting an over $25 million investment from the Board of Governors.
The investment will be in direct payments and will benefit the players over the next three years. The pledge from the BOG will include more than $7.5 million in salary and benefits for the 2022-23 season, and represents the largest one time independent investment in the history of professional women’s hockey.
Per the PHF Release:
The investment to our professional players, which includes cash, full healthcare benefits provided by their club, and equity in the teams, will support the current athletes and attract new players. At the heart of the investment is a substantial salary cap increase to $750,000 for next year, 150 percent more than the current record figure of $300,000 that is available per team. The PHF will further support its growth and the development opportunities for its athletes through expansion, updating facilities, purchasing new equipment, and increasing ice time in the form of more practices and an expanded 28 game schedule. All players will benefit from 10 percent of the equity of each team, which will be contributed to an investment pool owned by the PHF players, enabling them to share in the league’s financial success. Additionally, players will have control over their own likeness and be able to profit from their image.PHF Press Release
With also news of expansion into Montreal and for another team in the United States this is a huge step forward for the Premier Hockey Federation as the league continues to grow, and for the players as they continue to inspire a new generation of women’s hockey players.
To read the full PHF Press Release, click here.