Jun 27, 2013, 9:15 AM EDT
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
Jul 29, 2014, 9:35 AM EDT
Can become an unrestricted free agent next summer now.
Jul 29, 2014, 9:00 AM EDT
They won the Stanley Cup together in Tampa Bay.
Jul 29, 2014, 8:00 AM EDT
Tuesday’s collection of links.
Jul 28, 2014, 11:05 PM EDT
Both were part of Dallas’ 1999 championship.
Jul 28, 2014, 10:16 PM EDT
He was recently hired by the team to serve as an assistant general manager.
Jul 28, 2014, 9:09 PM EDT
That won’t be easy given the Bruins’ current logjam.
Jul 28, 2014, 8:00 PM EDT
He might still end up playing in Russia.
Jul 28, 2014, 6:50 PM EDT
He attempted to make the transition to North America in 2013-14.
Jul 28, 2014, 5:42 PM EDT
The two sides are unlikely to agree to terms quickly though.
Jul 28, 2014, 4:37 PM EDT
Yashin and Bure are among the players that will compete against Los Angeles.
Jul 28, 2014, 3:30 PM EDT
“I was told there’s a definite opportunity.”
Jul 28, 2014, 2:27 PM EDT
Former Anaheim forward posted a career high in points last year.
Jul 28, 2014, 2:01 PM EDT
With Riley Sheahan also signed, the only RFA left is Danny DeKeyser.
Jul 28, 2014, 1:00 PM EDT
He’s appeared in over 150 NHL games with Chicago, Dallas and Minnesota.
Jul 28, 2014, 12:00 PM EDT
Veteran goalie is high on his young teammates.
Jul 28, 2014, 10:56 AM EDT
“It’ll be done before camp.”
Jul 28, 2014, 9:58 AM EDT
Appeared in 83 games for Calgary over the last three seasons.
Jul 28, 2014, 9:00 AM EDT
They’ll be dancing close to the upper limit all year.
Jul 28, 2014, 8:00 AM EDT
That and the rest of the links to start your day.
Jul 27, 2014, 9:30 PM EDT
He last played in 2001 with the Edmonton Oilers.
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