Jun 26, 2013, 11:23 AM EST
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.
Dec 12, 2013, 7:39 PM EST
Cam Talbot was cheered upon entering the game.
Dec 12, 2013, 7:10 PM EST
No word on the severity of TT’s injury.
Dec 12, 2013, 6:27 PM EST
He’s been out with a lower-body injury.
Dec 12, 2013, 5:17 PM EST
Oilers coach wants to use “speed” and “smarts” tonight.
Dec 12, 2013, 4:40 PM EST
Oh, and Anders Nilsson sent back to AHL.
Dec 12, 2013, 4:23 PM EST
That didn’t take long.
Dec 12, 2013, 3:53 PM EST
Plus, the Rangers have issues.
Dec 12, 2013, 3:31 PM EST
Coyotes hoping “it’s not long, long-term.”
Dec 12, 2013, 3:06 PM EST
Activated off IR, will face the Flames in Calgary tonight.
Dec 12, 2013, 2:57 PM EST
Helped the Flames win their first and only Stanley Cup in 1989.
Dec 12, 2013, 2:50 PM EST
Game goes March 1 (on NBC).
Dec 12, 2013, 2:42 PM EST
News and notes from the blue paint…
Dec 12, 2013, 2:32 PM EST
Will get an MRI tomorrow.
Dec 12, 2013, 1:53 PM EST
“We want black and blue hockey.”
Dec 12, 2013, 1:51 PM EST
He broke in as a 19-year-old during the 2011-12 campaign.
Dec 12, 2013, 1:42 PM EST
Former Oilers draftee had been with AHL Adirondack.
Dec 12, 2013, 12:54 PM EST
Buffalo’s in Ottawa to play the Sens tonight.
Dec 12, 2013, 12:37 PM EST
Dec 12, 2013, 12:15 PM EST
Assistant general manager John Weisbrod also relieved of duties.
Dec 12, 2013, 12:11 PM EST
Montreal’s in town tonight.
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