Jun 26, 2013, 11:23 AM EDT
The NHL has deemed that trading a player, having the acquiring team buy him out and then re-signing him is a form of CBA/salary cap circumvention, according to the New York Post.
As per The Post’s Larry Brooks, the league notified general managers on Monday it was closing the potential loophole, two days before the NHL’s compliance buyout window was set to open (Wednesday, 11 p.m. ET.)
What’s more, Brooks reports one such deal was already on the table:
It is believed the Lightning and Maple Leafs had discussed such a maneuver regarding Vincent Lecavalier, who has seven years and $45 million remaining on his contract, with the buyout thus worth slightly more than $30 million.
The clubs theoretically would have concocted a swap in which Tampa Bay would have sent an asset — perhaps a draft pick — to rolling-in-dough Toronto along with Lecavalier, who would have re-signed a more modest deal with the Lightning after being bought out by the Leafs.
Such a scheme would have saved Tampa Bay’s ownership a substantial sum while easing a cap squeeze for general manager Steve Yzerman, whose club currently faces a charge of $7.727 million per for Lecavalier through 2019-20 and the danger of significant cap-recapture penalties should No. 4 retire while still under contract.
The Leafs would have received an asset while the 33-year-old Lecavalier would at least have been made whole.
Lecavalier has been the subject of buyout talk for a while.
“We understand this is a difficult contract in a difficult cap environment,” Lecavalier’s agent, Kent Hughes, told the Tampa Bay Times of his client’s current deal. “We recognize (a buyout) is within the club’s right. One way or another there will be clarity in the next seven to nine days.”
Earlier this month, the Bolts captain admitted he’s contemplated being bought out.
“It’s obviously something you think about,” he told the Tampa Bay Times. “At the same time, there’s nothing I can do about it.”
It should be noted teams are still allowed to trade players for the sole purpose of the acquiring team buying them out, so long as there’s no plan to re-sign the bought-out player.
The best example of this would be the New York Islanders and Rick DiPietro.
According to CBC’s Elliotte Friedman, Isles GM Garth Snow will reportedly “try to make it worthwhile” for teams to stomach DiPietro’s contract (the buyout would put him on the books until 2029) by possibly taking a bad contract in return, or sending picks and/or prospects.
Oct 1, 2014, 11:54 AM EDT
Oct 1, 2014, 11:30 AM EDT
Pending RFA forward’s deal is up at the end of the season.
Oct 1, 2014, 11:07 AM EDT
Alex Goligoski is the team’s No. 1 d-man. And that’s a concern.
Oct 1, 2014, 10:56 AM EDT
“It was clicking on full cylinders there.”
Oct 1, 2014, 9:55 AM EDT
One of them was rusty.
Oct 1, 2014, 9:03 AM EDT
He was a restricted free agent, but was still taking part in training camp.
Oct 1, 2014, 9:00 AM EDT
No, this post doesn’t just include the word “everything.”
Oct 1, 2014, 7:55 AM EDT
Wednesday’s collection of links.
Oct 1, 2014, 12:00 AM EDT
Apparently they won’t hand him Cody Eakin’s two-year, $3.8 million deal.
Sep 30, 2014, 11:31 PM EDT
Here are some assorted goals for entertainment purposes.
Sep 30, 2014, 10:23 PM EDT
He’s reportedly asking for a hefty six or seven-year deal.
Sep 30, 2014, 9:25 PM EDT
Updated with GM Craig MacTavish’s comments.
Sep 30, 2014, 9:10 PM EDT
Buffalo was fearing a broken jaw, which would be even worse.
Sep 30, 2014, 7:27 PM EDT
It looks like the transition from Charles Wang’s ownership will ramp up soon.
Sep 30, 2014, 7:13 PM EDT
What a difference injuries and a nearing regular season makes …
Sep 30, 2014, 6:40 PM EDT
He says the “progress has been really good.”
Sep 30, 2014, 5:28 PM EDT
Will this be another season to forget for Toronto?
Sep 30, 2014, 4:26 PM EDT
Called him “the best defenseman on the ice.”
Sep 30, 2014, 4:12 PM EDT
Buffalo trims training camp roster to 30.
Sep 30, 2014, 4:00 PM EDT
“We’ve got three games left here, so we really need to finalize what we’re going to do.”
- PHT Morning Skate: Flyers bringing back Ice Girls 3
- Dillon’s agent: Discussions with Stars are ‘frustrating and disappointing’ 6
- NHL shoots down Tkachev’s contract with Edmonton 8
- NHL Board of Governors approves Islanders sale 6
- Johansen, Blue Jackets talks haven’t just resumed, they’re ‘very polite’ 14
- Speedy recovery: Giroux (lower body) to play vs. Rangers tonight 12
- Risk Factors: Boston Bruins edition 13
- Hello Johansen? Boone Jenner out with broken hand 5
- Bruins release Leino; Boychuk staying put? 18
- Babcock doesn’t think this will be his last year with the Wings 9
- Jordan Subban has ‘moved on’ after ‘unfortunate’ photo caption by Vancouver papers (52)
- Players pushed for coaching fines because they were ‘encouraged’ to dive (34)
- Sabres’ Nolan, Avalanche don’t believe in analytics (32)
- Ouch: Datsyuk (separated shoulder) out 4-5 weeks (27)
- Spooner scores, but coach Julien’s not happy (23)