The N.H.L.’s general managers count on the salary cap to rise every year. But what if, as some fear, it does not go up next season?

The defending champion Los Angeles Kings might not have the cap space to retain Justin Williams, scorer of more Game 7 points than anyone else in league history. The Boston Bruins might have to part with Dougie Hamilton, Torey Krug or another of their defensemen of the future. The Rangers would have to make some hard decisions about Martin St. Louis, Derek Stepan, Mats Zuccarello, Carl Hagelin and Marc Staal, who all become free agents next summer.

The reason for all this trepidation? The falling Canadian dollar. But league officials say the speculation is overblown.