Aug 10, 2010, 11:00 AM EDT
Last night, I pointed out the startling revelation that the league might investigate existing contracts after Ilya Kovalchuk’s cap-circumventing deal was rejected.
Still, it’s one thing to hear such conjecture and a whole other thing to hear a little bit of confirmation on the subject. The Vancouver Sun got in touch with Vancouver Canucks GM Mike Gillis late last night and Gillis justified the speculation in this story.
Canuck general manager Mike Gillis confirmed in an email to the Vancouver Sun Monday night that the league is indeed studying Luongo’s 12-year, $64 million contract.
“We have complied with the NHL request for information and are awaiting further instructions,” Gillis said. “Cannot say anything further at this point.”
Luongo’s deal, signed last September, begins this season and will pay him $10 million in 2010-11. In the final year, when he is 43, Luongo is scheduled to make just $1 million. The goaltender’s cap hit over the 12 years is $5.33 million.
In regards to Luongo’s contract, Bloch wrote:”[Luongo] has a 12-year agreement that will end when he is 43. After averaging some $7,000,000 per year for the first 9 years of the Agreement, Luongo will receive an average of about 1.2 million during his last 3 years, amounting to some 5.7% of the total compensation during that time period.”
It’s hasty to say that Luongo is no longer among the NHL’s elite goalies because of an off year or two, but there’s little doubt that his contract looks a lot riskier right now. As I pointed out yesterday, my guess is many of the teams who signed some of those fishy contracts that arbitrator Richard Bloch pointed out would love a mulligan unless they receive serious fines.
Too bad the Blackhawks can’t convince someone that Cristobal Huet’s contract is illegal. Unfortunately, that deal just circumvents logic.
- Agent: Subban hasn’t told me to make him NHL’s highest-paid D 16
- Devils sign Greene to five-year, $25M extension 10
- Subban seeking $8.5 million in arbitration, versus the Habs at $5.25 million 42
- Marchand on Plekanec: ‘I hate him. I can’t stand him’ 54
- Gettin’ paid: Gardiner inks five-year, $20.25M extension with Leafs 15
- Report: Trottier to join Sabres’ coaching staff 19
- Blues sign former eighth overall pick Mueller 31
- Trotz plans to let Johansson, Kuznetsov, and Burakovsky compete for time at center 45
- Eric Staal has surgery to repair ‘core muscle injury’ 6
- After not seeing ‘eye-to-eye’ with Carlyle, Reimer will compete for No. 1 gig 16
- Cashing in: Rangers sign Brassard to five-year, $25 million deal (63)
- Marchand on Plekanec: ‘I hate him. I can’t stand him’ (54)
- Trotz plans to let Johansson, Kuznetsov, and Burakovsky compete for time at center (45)
- Subban seeking $8.5 million in arbitration, versus the Habs at $5.25 million (42)
- Richards: If not for the cap, half the league would want to play for Hawks (36)