Jun 27, 2013, 9:15 AM EST
The Tampa Bay Lightning have made the difficult decision to buy out the remainder of Vincent Lecavalier‘s 11-year, $85,000,000 contract.
“Vinny has been a significant reason for many of our past successes, including the 2004 Stanley Cup, and his contributions to the community are immeasurable,” said Lightning GM Steve Yzerman in a statement on the team’s website.
“The Lightning organization is indebted to Vinny; we thank him for all he has done here and we wish him well as he moves forward.
“After much internal deliberation, we believe this will prove to be a pivotal move for us as we strive to achieve our long term goal of competing at the highest level, year-in, year-out. The economics and structure of the CBA are necessitating this decision and we at the Lightning are excited at the newly created opportunities this presents to us.”
The 33-year-old is still a very effective top-six forward, but it’s been a while since he lived up to his $7,727,273 annual cap hit and things were likely only going to get worse given that his contract wasn’t set to run out until the summer of 2020.
Even still, this couldn’t have been an easy decision for Tampa Bay, given that they will now pay Lecavalier $32.67 million over 14 years to not to play for them, according to ESPN and TSN’s Pierre LeBrun.
On top of that, if it wasn’t for his cap hit, the Tampa Bay Lightning probably would have loved to keep him. In fact Tampa Bay and Toronto were rumored to be working on a deal where the Lightning would give Lecavalier and an asset to Toronto so that the Maple Leafs would buy out Lecavalier instead. That would allow Lecavalier to re-sign with Tampa Bay at a more cost effective rate.
The NHL warned that such a maneuver would be seen as CBA/salary cap circumvention.
As it stands, Lecavalier will be regarded as one of, if not the best unrestricted free agent on the market. Almost every team would love to have him — minus, of course, his old cap hit.
Told Vinny Lecavalier is open and willing to play in Montreal but will evaluate all opportunities. Some teams have already contected him.
— Louis Jean (@LouisJean_TVA) June 27, 2013
Jan 31, 2015, 5:53 PM EST
Was put on waivers, cleared, and sent to the minors this week.
Jan 31, 2015, 5:22 PM EST
Took part in team skate on Saturday.
Jan 31, 2015, 4:47 PM EST
Detroit is forcing itself into the Stanley Cup conversation.
Jan 31, 2015, 4:08 PM EST
Montreal has put pressure on Tampa Bay in the battle for the Eastern Conference lead.
Jan 31, 2015, 2:48 PM EST
He has a degenerative back injury that might lead to career-ending surgery.
Jan 31, 2015, 1:56 PM EST
He gave up five goals against them on Jan. 10.
Jan 31, 2015, 12:57 PM EST
Meanwhile Philadelphia will try to win its fourth straight game.
Jan 31, 2015, 11:57 AM EST
They’ve surpassed the early season expectations.
Jan 31, 2015, 10:11 AM EST
But he seems very reluctant on the matter.
Jan 31, 2015, 9:24 AM EST
Is that what’s best for Carolina in the long term?
Jan 31, 2015, 2:00 AM EST
Anaheim has now lost two straight in regulation for the first time since November.
Jan 31, 2015, 1:15 AM EST
Sabres conclude January with an 0-12-0 record.
Jan 31, 2015, 12:15 AM EST
Shattenkirk had the shootout winner.
Jan 30, 2015, 11:35 PM EST
He’s now tied with Dino Ciccarelli on the all-time points list.
Jan 30, 2015, 11:00 PM EST
Kris Letang has assisted on Pittsburgh’s last seven goals.
Jan 30, 2015, 10:15 PM EST
Mark Hunter has also been a rumored replacement.
Jan 30, 2015, 9:30 PM EST
He’s a restricted free agent after this season.
Jan 30, 2015, 8:45 PM EST
The 18-year-old is playing in his 3rd career AHL game tonight.
Jan 30, 2015, 8:00 PM EST
Was 6-0-0 in his previous seven appearances entering tonight.
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