Jun 26, 2013, 11:23 AM EST
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.
Nov 22, 2014, 10:56 PM EST
Meanwhile, Edmonton at risk of losing six straight.
Nov 22, 2014, 10:26 PM EST
Nov 22, 2014, 9:56 PM EST
New York takes both games of home-and-home set with Pittsburgh.
Nov 22, 2014, 9:23 PM EST
Difficult news for Washington.
Nov 22, 2014, 9:13 PM EST
Nov 22, 2014, 8:53 PM EST
Dealt with injury last season.
Nov 22, 2014, 8:32 PM EST
Fight didn’t last long.
Nov 22, 2014, 8:17 PM EST
“This is the biggest thing I’ve ever seen in my life with Toronto.”
Nov 22, 2014, 7:38 PM EST
Dallas has moved a trio of blue liners recently.
Nov 22, 2014, 7:09 PM EST
“Let the referees do their job, we’ll do our job.”
Nov 22, 2014, 6:31 PM EST
The St. Louis defender had an assist on the eventual winner.
Nov 22, 2014, 5:55 PM EST
Conflicting ideas on whether it was a fight or not.
Nov 22, 2014, 5:27 PM EST
In the rain, too, apparently.
Nov 22, 2014, 4:55 PM EST
“They embarrassed us pretty good in their building.”
Nov 22, 2014, 3:29 PM EST
He’s out Saturday, for sure.
Nov 22, 2014, 2:50 PM EST
A fun way to mislead people about Cory Schneider’s workhorse run.
Nov 22, 2014, 1:55 PM EST
NHL makes it official.
Nov 22, 2014, 1:36 PM EST
Not a lot of good news in Edmonton.
Nov 22, 2014, 12:40 PM EST
“They know who is the man.”
Nov 22, 2014, 11:32 AM EST
Tough loss for Vancouver.
- ‘We did not want to disrespect our fans’: Leafs salute supporters after beating Red Wings 1
- Video: Demers sends Stoll flying with massive open-ice hit 5
- Don Cherry on Leafs not saluting fans: ‘I couldn’t believe these guys would do something like this’ 10
- Report: Dan Hamhuis’ injury is significant, but not season-ending 5
- Been there, done that: Oilers lose five straight for second time this season 10
- Prout drops Lucic: ‘As far as I was concerned we were engaged in a fight’ 81
- Video: Prout drops Lucic with one punch 43
- NHL grants Kings cap relief for Voynov, who’s still suspended indefinitely 31
- Trade: Stars get Demers from Sharks, send Dillon to San Jose 18
- The Leafs didn’t salute their fans last night, so that’s a thing now 78
- Prout drops Lucic: ‘As far as I was concerned we were engaged in a fight’ (81)
- The Leafs didn’t salute their fans last night, so that’s a thing now (78)
- Jack Johnson filed for bankruptcy, parents allegedly took advantage of him (58)
- Wild put Harding on waivers (Updated) (52)
- After Voynov suspension, Lombardi wonders if teams need a ‘cushion’ in case a player is a ‘bank robber, kleptomaniac’ (51)