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. Get your game notes: Wild at Avalanche

    Apr 17, 2014, 2:30 PM EDT

    Jonnas Brodin, Nathan MacKinnon AP

    Two teams meeting for the third time in the playoffs.

  2. FYI: Hartnell and Voracek have black beards now

    Apr 17, 2014, 2:08 PM EDT

    Hartnell

    Just in case you don’t recognize them tonight.

  3. Flyers want to ‘punish’ McDonagh

    Apr 17, 2014, 1:01 PM EDT

    Brayden Schenn, Ryan McDonagh AP

    “You definitely want to be physical on him.”

  4. Oshie and Berglund out, Tarasenko in for Blues tonight vs. ‘Hawks

    Apr 17, 2014, 12:41 PM EDT

    OshieBerglund Getty Images

    Game 1 gets underway at Scottrade at 8 p.m. ET (on NBCSN).

  5. Get your game notes: Blackhawks at Blues

    Apr 17, 2014, 11:57 AM EDT

    BluesBlackhawks AP

    Classic rivalry will get underway tonight at Scottrade.

  6. Sharks playing the role of underdogs versus Kings

    Apr 17, 2014, 11:50 AM EDT

    Brad Stuart, Justin Williams AP

    Even though they’re not really underdogs.

  7. Get your game notes: Flyers at Rangers

    Apr 17, 2014, 11:02 AM EDT

    Jakub Voracek, Henrik Lundqvist AP

    Both teams bounced back from bad starts to make the playoffs.

  8. St. Louis focused on team rather than own struggles

    Apr 17, 2014, 9:25 AM EDT

    Martin St. Louis Getty Images

    He had eight points in 19 games with New York.

  9. PHT Morning Skate: Four Game 1s start it up tonight

    Apr 17, 2014, 8:25 AM EDT

    Patrick Marleau, Alec Martinez AP

    New York, St. Louis, Denver, and San Jose is where it’s at tonight.

  10. Video: Getzlaf bloodied after taking puck to face

    Apr 17, 2014, 1:19 AM EDT

    Getzlaf2

    A Tyler Seguin bullet, no less.

  11. Bylsma praises ‘formidable’ Bennett-Sutter-Stempniak line

    Apr 17, 2014, 12:03 AM EDT

    Bylsma Getty Images

    The trio was big in Wednesday’s Game 1 victory over the Jackets.

  12. Lightning provide few details about Palat’s injury

    Apr 16, 2014, 11:23 PM EDT

    Tampa Bay Lightning v Pittsburgh Penguins Getty Images

    It’s bad enough to inspire Jon Cooper’s pity, though.

  13. Blue Jackets coach wants more than just moral victories

    Apr 16, 2014, 10:59 PM EDT

    Columbus Blue Jackets v Carolina Hurricanes Getty Images

    “We aren’t here just to go to school. We’re here to win.”

Featured video

Are Penguins vulnerable vs. Columbus?
Top 10 NHL Player Searches
  1. E. Malkin (4638)
  2. T. Oshie (3738)
  3. M. Duchene (3478)
  4. B. Bishop (3042)
  5. H. Zetterberg (2944)
  1. M. Brodeur (2921)
  2. D. Backes (2916)
  3. P. Bergeron (2844)
  4. V. Tarasenko (2834)
  5. S. Crosby (2273)