Around 1999, the NHL was much closer to parity with the other major sports leagues in North America. Since then, it has fallen far behind the rest when it comes to salaries for their top players. So why is there such a massive difference now in 2019? A big thing is the annual revenue for each league. In 2018, according to Forbes, the NBA generated $7.4 billion, the NFL brought in $8.78 billion, and the MLB recorded a revenue of $10.3 billion,l. The NHL only brought in $4.86 billion, which is fairly low in comparison to the other three leagues. Simply put, the NHL just isn't as popular as the other major sports leagues in North America yet. They are making strides in the right direction though, as they have began doing more international events and marketing in an effort to grow the game.
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The salary cap for each respective league also plays a big role in the difference of salaries between these 4 leagues. The MLB doesn't have a salary cap, while the NBA has a "soft" salary cap, which allows teams to go above the set salary cap which is currently $109.14 million. The NFL and the NHL both have "hard" salary caps, which means if teams go above the set cap then they will be forced to pay a penalty fee. However, due to the NFL generating so much money they are able to have a much higher salary cap, which is currently at $188.2 million for the 2019 season. Unfortunately for players in the NHL, their salary cap is set at only $81.5 million, which isn't very much in comparison to the other major leagues.
With ongoing discussions between the NHL and the NHLPA regarding a new CBA, it is possible that the NHL could see another lockout in the not so distant future if an agreement cannot be reached.
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