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. Jackets’ prospect Oscar Dansk loaned to Swedish club

    Jul 5, 2015, 10:00 PM EDT

    Montreal Canadiens v Columbus Blue Jackets Montreal Canadiens v Columbus Blue Jackets

    He struggled in his first year pro split between the AHL and ECHL.

  2. Report: Bolts sign Mike Angelidis to a one-year, two-way deal

    Jul 5, 2015, 7:00 PM EDT

    Tampa Bay Lightning v New Jersey Devils Getty Images

    He’ll make $650,000 at the NHL level and $250,000 in the AHL.

  3. Arbitration filed: Holtby, Nyquist & Stepan highlight list released by NHLPA

    Jul 5, 2015, 6:00 PM EDT

    Braden Holtby Braden Holtby

    Hearings will take place in Toronto from July 20 to August 4

  4. Leafs sign Kadri to a one-year contract extension

    Jul 5, 2015, 3:55 PM EDT

    Nazem Kadri #43 of the Toronto Maple Leafs gets set for a faceoff against the Boston Bruins in Game Three of the Eastern Conference Quarterfinals during the 2013 NHL Stanley Cup Playoffs on May 6, 2013 at the Air Canada Centre in Toronto, Ontario, Canada. The Bruins defeated the Maple Leafs 5-2 to take a 2-1 series lead.
(May 5, 2013 - Source: Claus Andersen/Getty Images North America) Getty Images

    The deal will reportedly pay him $4.1 million next season.

  5. Report: Mikkel Boedker files for salary arbitration

    Jul 5, 2015, 3:08 PM EDT

    Mikkel Boedker AP

    His peak came in 2013-14: 19 goals, 51 points.

  6. Teacher-pest: Blue Jackets add Jarkko Ruutu to staff

    Jul 5, 2015, 2:20 PM EDT

    ruutugetty Getty Images

    Perhaps Blue Jackets prospects can learn from his scrappy ways.

  7. Clune is set to attend Leafs camp after signing with AHL’s Marlies

    Jul 5, 2015, 12:31 PM EDT

    Rich Clune AP

    He shared his story (and struggles) this past week.

  8. Report: Wild’s Haula files for arbitration

    Jul 5, 2015, 10:49 AM EDT

    haulagetty Getty Images

    That doesn’t guarantee that a hearing would take place, though.

  9. Changes continue for Canucks after reportedly letting go of their head trainer

    Jul 4, 2015, 11:20 PM EDT

    AP

    Vancouver started its development camp this weekend.

  10. Report: Contract negotiations between Blackhawks, Kruger ‘progressing OK’

    Jul 4, 2015, 10:10 PM EDT

    Getty Images

    His offensive totals were down, but was regularly used on penalty kill.

  11. Putting pen to paper: Wild re-sign Dubnyk

    Jul 4, 2015, 7:10 PM EDT

    AP

    They had agreed to terms last weekend.

  12. Oilers prospect Draisaitl ‘totally fine’ playing the wing

    Jul 4, 2015, 5:40 PM EDT

    Getty Images

    Played 37 games with Edmonton last season before getting sent back to the WHL.

Top 10 NHL Player Searches
  1. S. Voynov (2613)
  2. Z. Kassian (2571)
  3. B. Saad (2507)
  4. M. Richards (2476)
  5. P. Kessel (2353)
  1. B. Richards (2266)
  2. R. O'Reilly (2214)
  3. M. Green (2166)
  4. M. St. Louis (2070)
  5. A. Sekera (1824)