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.
Jul 25, 2014, 5:12 PM EDT
He lost the starting job to Jonathan Bernier last season.
Jul 25, 2014, 4:05 PM EDT
He was taken with the fourth overall pick.
Jul 25, 2014, 3:00 PM EDT
Two-time Stanley Cup winner played last season with KHL club HC Donbass.
Jul 25, 2014, 2:00 PM EDT
“I wish I had a really good answer — where this came from and why, and how it came about — but I don’t, to be honest.”
Jul 25, 2014, 1:01 PM EDT
“We’re hoping the change of scenery is going to do him good.”
Jul 25, 2014, 12:09 PM EDT
But not before having played his first NHL game since 2009-10.
Jul 25, 2014, 11:11 AM EDT
“It’s a fairly simple one because Marc wants to be here,”
Jul 25, 2014, 10:13 AM EDT
The 32nd overall pick at the 2009 NHL Entry Draft.
Jul 25, 2014, 9:00 AM EDT
He made his NHL debut with Washington last season.
Jul 25, 2014, 8:00 AM EDT
Friday’s collection of links.
Jul 24, 2014, 11:08 PM EDT
In other words, they want him to be a shutdown center
Jul 24, 2014, 10:14 PM EDT
Eriksson’s looking to bounce back after suffering two concussions last season.
Jul 24, 2014, 9:06 PM EDT
He’ll get a fresh start after struggling with Vancouver.
Jul 24, 2014, 8:00 PM EDT
He’s coming back after testing the free agent waters.
Jul 24, 2014, 6:57 PM EDT
It’s that time of the year.
Jul 24, 2014, 5:53 PM EDT
He started in nine games for the Flames last season.
Jul 24, 2014, 4:42 PM EDT
The Canucks selected him with one of the picks they got from the Ryan Kesler trade.
Jul 24, 2014, 3:31 PM EDT
The two sides managed to avoid arbitration despite a $1.45 million gap on a one-year deal.
Jul 24, 2014, 3:15 PM EDT
Alternately known as “the guy Boston got for Vladimir Sobotka.”
Jul 24, 2014, 2:19 PM EDT
Journeyman split last season between the Rangers and Penguins.
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