Skip to content

Report: NHL nixes trade-buyout-re-sign plan amidst rumors of Leafs-Lecavalier deal

Jun 26, 2013, 11:23 AM EDT

Vincent Lecavalier Getty Images

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.

Latest Posts
  1. Here’s who’s left after Day 1 of free agency

    Jul 2, 2015, 12:43 AM EDT

    st.louis Getty Images

    Some interesting players still need deals.

  2. PHT’s 2015 free agent frenzy tracker

    Jul 1, 2015, 11:15 PM EDT

    Mike Green Getty Images

    All the signings from what promises to be a busy day.

  3. Habs sign Barberio to a one-year, two-way deal

    Jul 1, 2015, 6:45 PM EDT

    Mark Barberio Mark Barberio

    The contract pays the 25-year-old $600,000.

  4. Columbus character: Blue Jackets ink Gregory Campbell

    Jul 1, 2015, 6:34 PM EDT

    Gregory Campbell AP

    It’s reportedly two-years, $3 million.

  5. Report: Brassard should be ready for training camp after wrist surgery

    Jul 1, 2015, 6:16 PM EDT

    Derick Brassard AP

    The Rangers were a banged-up group in the playoffs.

  6. Preds trade goalie Hellberg to Rangers

    Jul 1, 2015, 6:09 PM EDT

    Nashville Predators v Los Angeles Kings Getty Images

    Was the first netminder taken at the 2011 NHL Entry Draft.

  7. Kessel trade shows Leafs are trying to ‘build this thing the right way’

    Jul 1, 2015, 4:53 PM EDT

    Official Announcement Of Mike Babcock As Toronto Maple Leafs Head Coach Getty Images

    “We are here to build a team that is capable of winning a Stanley Cup. There are no shortcuts to go around doing that.”

  8. B’s re-sign Spooner: two years, $1.9 million

    Jul 1, 2015, 4:06 PM EDT

    Boston Bruins v Winnipeg Jets Getty Images

    23-year-old had 18 points in 29 games last year.

  9. Green signs with Red Wings — 3 years, $18 million

    Jul 1, 2015, 4:05 PM EDT

    Mike Green Getty Images

    Moves on from Washington, the team that drafted him in 2004.

  10. ‘It’s hard to find players like Phil Kessel’

    Jul 1, 2015, 3:38 PM EDT

    Phil Kessel Getty Images

    Penguins GM considers his new winger in the same class as Alex Ovechkin and Steven Stamkos.

  11. After Preds buyout, Stalberg signs one-year, $1.1M deal with Rangers

    Jul 1, 2015, 3:19 PM EDT

    Viktor Stalberg #25 of the Nashville Predators warms up prior to a game against the Winnipeg Jets at Bridgestone Arena on October 24, 2013 in Nashville, Tennessee.
(October 23, 2013 - Source: Frederick Breedon/Getty Images North America) Getty Images

    29-year-old forward will look to get his career back on track.

Top 10 NHL Player Searches
  1. M. Richards (2398)
  2. D. Hamilton (2384)
  3. C. Talbot (1992)
  4. S. Gagner (1922)
  5. R. O'Reilly (1875)
  1. E. Etem (1734)
  2. A. Niemi (1733)
  3. R. Lehner (1656)
  4. M. Lucic (1572)
  5. C. Pronger (1540)