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. Looking to make the leap: Ryan Spooner

    Aug 29, 2014, 11:00 PM EDT

    Boston Bruins v San Jose Sharks Getty Images

    Can he fit in well enough to embrace this opportunity?

  2. Poll: How should Boston handle its cap crunch?

    Aug 29, 2014, 10:10 PM EDT

    marchboy Getty Images

    Should they make a move or play hardball with free agents?

  3. Nicklas Backstrom finally got his silver medal today

    Aug 29, 2014, 6:29 PM EDT

    backstromsilver

    “I’m sleeping with it tonight.”

  4. Report: Flames expected to try out Brookbank

    Aug 29, 2014, 4:57 PM EDT

    Chicago Blackhawks v Nashville Predators Getty Images

    The Chicago Blackhawks let him walk.

  5. Report: Moore-Bertuzzi lawsuit removed from court docket

    Aug 29, 2014, 2:15 PM EDT

    Bertuzzi Moore

    Was schedule for Ontario Superior Court Sept. 8

  6. Video: Bruins participate in commercials to promote NHL 15

    Aug 29, 2014, 1:18 PM EDT

    Patrice Bergeron AP

    A pair of hilarious ads to promote the game.

  7. Under Pressure: David Krejci

    Aug 29, 2014, 12:33 PM EDT

    David Krejci Getty Images

    Heading into a contract year, lots on his shoulders.

  8. Panthers’ Bolland to have jersey retired by junior team

    Aug 29, 2014, 11:05 AM EDT

    Dave Bolland Getty Images

    Scored 135 goals and 299 points in four seasons with the London Knights.

  9. Oilers ink Schultz to one-year deal

    Aug 29, 2014, 10:45 AM EDT

    Justin Schultz Getty Images

    Spent the past two seasons in Edmonton.

  10. Bruins’ quiet summer could have an eventful finish

    Aug 29, 2014, 10:02 AM EDT

    JohnnyBoychuk Getty Images

    Their cap situation and defensive logjam might lead them to make a trade.

  11. Sarich opens up about scary cycling accident, aftermath

    Aug 29, 2014, 9:00 AM EDT

    Colorado Avalanche v Ottawa Senators Getty Images

    “It’s amazing how an accident like this puts things in perspective.”

  12. It’s Boston Bruins day on PHT

    Aug 29, 2014, 8:00 AM EDT

    NHL: Stanley Cup Playoffs-Detroit Red Wings at Boston Bruins Reuters

    They won the Presidents’ Trophy, but fell in the second round.

  13. Johnston: Teammates need to do more to help Crosby

    Aug 28, 2014, 9:33 PM EDT

    Sidney Crosby Getty Images

    The new coach wants the Penguins to ‘lessen the load.’

  14. Poll: Will the Sabres surprise critics this season?

    Aug 28, 2014, 7:11 PM EDT

    Tyler Myers Getty Images

    They have a lot of players on their roster with something to prove.

Top 10 NHL Player Searches
  1. J. Harding (1510)
  2. C. Price (1456)
  3. C. Anderson (1452)
  4. B. Bishop (1424)
  5. A. Ekblad (1377)
  1. M. Staal (1358)
  2. J. Giguere (1315)
  3. M. Fleury (1314)
  4. D. Alfredsson (1281)
  5. D. Setoguchi (1138)