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You're limited to 50 contracts maximum in the NHL - it'll show a #/50 on the Contracts tab of the team screen to show you how many you currrently have, and once you hit 50, you can't sign anyone else. You can actually get a little above 50 temporarily, since 18-19-yeard old players signed to NHL contracts but returned to their junior teams don't count against the limit, but once they're returned to you you'll need to get back to 50 or less.
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