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.
Sep 22, 2014, 10:13 PM EDT
Mitts were dropped. Frequently.
Sep 22, 2014, 9:16 PM EDT
Good start for a guy on a two-way deal.
Sep 22, 2014, 8:29 PM EDT
Like Vancouver, for example.
Sep 22, 2014, 6:53 PM EDT
“We’ve got to wait to see how it heals.”
Sep 22, 2014, 5:53 PM EDT
He’s been unable to skate since camp started.
Sep 22, 2014, 5:11 PM EDT
“You grow up playing hockey and you’re thinking ‘oh, I just want to play the game, it’s so much fun.’ Then you realize it is your job.”
Sep 22, 2014, 4:49 PM EDT
But it “shouldn’t be a long-term, lingering thing.”
Sep 22, 2014, 3:41 PM EDT
Randy Carlyle is making some changes to the way Toronto defends.
Sep 22, 2014, 2:20 PM EDT
Currently there are 16 teams in the East and 14 in the West.
Sep 22, 2014, 2:02 PM EDT
“I think it’s been terribly mishandled by the player and the agent.”
Sep 22, 2014, 1:30 PM EDT
Meanwhile, Kurt Overhardt has a warning for the frustrated Blue Jackets management.
Sep 22, 2014, 1:15 PM EDT
“We know he has a great shot and that’s a bonus for him.”
Sep 22, 2014, 12:11 PM EDT
But Peter Karmanos wants to retain control of the team.
Sep 22, 2014, 11:39 AM EDT
“It’s nice having a little more freedom, in that regard, especially for the creativity that’s on our team,” says Beau Bennett.
Sep 22, 2014, 10:45 AM EDT
“I think what we’re going to do as a team will be right up his alley.”
Sep 22, 2014, 10:02 AM EDT
He’ll get tougher assignments with Kimmo Timonen sidelined indefinitely.
Sep 22, 2014, 8:58 AM EDT
Colorado is counting on the duo to be very effective this season.
Sep 22, 2014, 8:00 AM EDT
Monday’s collection of links.
Sep 21, 2014, 11:05 PM EDT
Head coach Todd McLellan thinks he can play, at least.
Sep 21, 2014, 10:10 PM EDT
“But sometimes you have to lose what you have to realize what you had.”
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