The National Women's Hockey League will take to the ice in 2015-16. It will be professional league with four teams representing Buffalo, Boston, New York and Connecticut (Hartford). There will be a hard $270,000 salary cap per team, with all player expenses relating to equipment and travel also covered.
The NWHL will co-exist with the existing Canadian Women's Hockey League, though undoubtedly they will compete for players. It sounds like the CWHL, as it has operated in the past, will have trouble retaining some of it's talent.
This may be bad news for the CWHL, but if both leagues really can co-exist this is great news for women's players who have graduated from college.
Also, there is no mention of what the new league will do in Olympic years where the top players spend much of the season training with their national teams.