The NHL Salary Cap is the limit to the total amount of money that National Hockey League teams are allowed to pay their players and uses a "hard" cap, meaning there are no luxury taxes or exemptions. The actual amount of the cap varies on a year-to-year basis, and is calculated as a percentage of the League's revenue from the previous season; for instance, in 2007-08, the NHL's salary cap was approximately US$50.3 million per team, and for the 2008-09 season it was $56.7 million. Like many professional sports leagues, the NHL has a salary cap to keep teams in larger markets (with more revenue) from buying all of the top players and extending their advantage over smaller-market franchises. The 2009-10 salary cap has been set at $56.8 million.