Do payroll and NHL success go hand in hand?

Count New York Islanders winger Kyle Okposo among those who think that money can't buy success in the NHL's salary cap era.

"I think definitely we can compete with anyone in the league, and you don't have to be a cap team to do that," Okposo said.

According to capgeek.com, the Islanders are roughly $10 million under the salary cap ceiling, ranking them 24th in the NHL in cap spending. In theory, that's the equivalent of two high-quality scorers, or one star and a dependable defenseman.

Spending to the cap seems like an advantage, but when you factor in how injuries, acquisition mistakes and slumps affect competition, it's probably not as significant as it might seem on paper.

"It's not just about money," former NHL general manager Craig Button said. "It's where you allocate your money. I think there is opportunity for teams that spend less than the cap ceiling to be successful."

The Chicago Blackhawks, Los Angeles Kings and Boston Bruins have won the past five Stanley Cups, but they are all salary cap ceiling teams. But the Toronto Maple Leafs have been a salary cap ceiling team, and a top-spending team before that, and they haven't won a Cup since 1967.

The Anaheim Ducks are considered prime Stanley Cup contenders this season, and they are $9.3 million under the cap.

Columbus Blue Jackets fans are excited about the team's potential, and they will be well under the cap, regardless of what happens in their ongoing negotiations with center Ryan Johansen.

"Players don't really look at the cap very much; you just go play," Okposo said. "We have to play with the players we have. We don't have any control. (GM) Garth (Snow) puts together a team that he expects to win, and the rest falls on us. That's true whether you are a cap team or not. You have to perform."

Still, the Buffalo Sabres, Nashville Predators, Calgary Flames and Ottawa Senators are among the NHL lowest-spending teams, and none is listed at better than 66-1 on the Bovada.com preseason odds to win the Stanley Cup.

"If you feel you are at a disadvantage, then you are at a disadvantage," Button said. "But every market is different."

Last season, the Colorado Avalanche's cap hit ranked 28th in the league and the team shocked the NHL by winning a division title. But their payroll last season reflected the fact they were a younger team; now they are within $2 million.

What it means is that it's complicated to assess how spending affects competitiveness. Sometimes general managers keep their salary cap number low one season in anticipation of needing flexibility to pay younger players who are coming of age.

"You want to see a commitment level from the organization that they are doing everything to win," Islanders captain John Tavares said. "But I don't think necessarily that it means you have to spend the most money or go right to the cap."

The Islanders were aggressive this summer, acquiring and signing goalie Jaroslav Halak and dipping into the free agent pool to grab forwards Mikhail Grabovski and Nikolai Kulemin.

Next season, the Islanders will move to Brooklyn's Barclays Center. They will have a new majority owner within two seasons.

"We are in a great position moving forward to attract free agents with the move to Brooklyn coming up and still having a lot of cap space," Tavares said.

The Islanders have a good collection of young, talented players, and their payroll will have to rise to keep those players.

"In the last couple of years, there haven't been as many high-end free agents as there have been in the past (because) a lot of guys are signing long-term deals," Tavares said. "I think Garth has done a good job making the right moves at the right time and not put ourselves in the situations that can make it tough at times in cap flexibility."