Proposal: Creative ways to shed Loui Eriksson contract

[KingsOfCali25]

You wait, they'll all get on LTIR before they retire. The recapture on Parise and Suter would sink the Minnesota franchise. No way they pay it.

Carter already said he is playing out the rest of his contract. Its only 2 years so no big deal

 

[the_fan]

Buyout

 

[nowhereman]

In the words of Bob McKenzie, "the Luongo recapture penalty is the most Vancouver thing ever". It's just hilarious that, so far, pretty much every team has gotten off scot-free or with just a minor penalty, while Vancouver has to stomach a bigger penalty than every other team combined. And it will continue this way, as all the other players with cap-circumventing contracts will develop equipment allergies and head off into the sunset to Robidas Island.

The only karma in the situation is that Florida got screwed by an ugly Bobrovsky contract.

 

[Djp]

Thats why it's been such an unfair penalty for Vancouver to take.

No it’s not.

It’s a formula based on contract salary structure.

 

[Djp]

In the words of Bob McKenzie, "the Luongo recapture penalty is the most Vancouver thing ever". It's just hilarious that, so far, pretty much every team has gotten off scot-free or with just a minor penalty, while Vancouver has to stomach a bigger penalty than every other team combined. And it will continue this way, as all the other players with cap-circumventing contracts will develop equipment allergies and head off into the sunset to Robidas Island.

The only karma in the situation is that Florida got screwed by an ugly Bobrovsky contract.

There is no recapture anymore. Bobs retires there isn’t any recapture.

Other teams used CBO to hide the penalty.

 

[mouser]

In the words of Bob McKenzie, "the Luongo recapture penalty is the most Vancouver thing ever". It's just hilarious that, so far, pretty much every team has gotten off scot-free or with just a minor penalty, while Vancouver has to stomach a bigger penalty than every other team combined. And it will continue this way, as all the other players with cap-circumventing contracts will develop equipment allergies and head off into the sunset to Robidas Island.

The only karma in the situation is that Florida got screwed by an ugly Bobrovsky contract.

New Jersey: $3m
Los Angeles: $6.6m
Florida: $3.3m
total: $12.9m

Vancouver $9.1m

Vancouver didn’t get a bigger penalty then all the other teams combined.

 

[Johnsie19]

No it’s not.

It’s a formula based on contract salary structure.

That was formulated post hoc and doesn't weigh how realistic the contracts were. Nor does it have a clause for a guy retiring (Luongo) and get a front office job with the same team, which is a huge conflict of interest. They made it so easy to get around through LTIR it's just embarrassing.

Maybe in 10 yrs they decide the LTIR was legit a penalize the likes of Detroit, Chicago, Philly.

 

[Icebreakers]

New Jersey: $3m
Los Angeles: $6.6m
Florida: $3.3m
total: $12.9m

Vancouver $9.1m

Vancouver didn’t get a bigger penalty then all the other teams combined.

The only thing that really matters is the cap hit, not the total amount. No one cares about NJ's cap recapture penalty of 250k in 2025.

New Jersey was 12 years x $250k.

Florida was 3 x 1.092m. Thats a 4th liner

Los Angeles was 5 x 1.32m. Another 4th liner

3.1m is Viktor Oloffson. It could also have been the difference between keeping Toffoli


I mean, you're still right, but the other team's penalties dont really impact their teams whatsoever.

Every other team did the IR route , IE Hossa, Zetterberg, Franzen etc. Expect Parise, Suter, and Weber magically go on IR as well.

If Luongo had retired as a Canuck, he would be on the IR as well. Dude had many hip surgeries and retired due to his physically inability to stay in top shape.

 

[FerrisRox]

If Luongo had retired as a Canuck, he would be on the IR as well. Dude had many hip surgeries and retired due to his physically inability to stay in top shape.

He had a minor hip surgery in the off-season of 2016. When did he have all of these other hip surgeries?

 

[Beezeral]

Thats why it's been such an unfair penalty for Vancouver to take.

Maybe two of the worst GMs in the NHL should have shown a little bit of creativity and gotten together to pay another team to eat Luongo’s LTIR cap hit instead of letting him retire.

 

[mouser]

The only thing that really matters is the cap hit, not the total amount. No one cares about NJ's cap recapture penalty of 250k in 2025.

New Jersey was 12 years x $250k.

Florida was 3 x 1.092m. Thats a 4th liner

Los Angeles was 5 x 1.32m. Another 4th liner

3.1m is Viktor Oloffson. It could also have been the difference between keeping Toffoli


I mean, you're still right, but the other team's penalties dont really impact their teams whatsoever.

Every other team did the IR route , IE Hossa, Zetterberg, Franzen etc. Expect Parise, Suter, and Weber magically go on IR as well.

If Luongo had retired as a Canuck, he would be on the IR as well. Dude had many hip surgeries and retired due to his physically inability to stay in top shape.

I agree it's not fair other teams skipped out on the LTIR penalties they should have had.

However just looking at the 4 assigned Cap Recapture penalties you can't focus in on the severity of the penalty without also considering the level of the benefit the teams received. Vancouver took Luongo from a $6.75m AAV to $5.33m AAV when the contract realistically should have been $7.15+. In today's cap numbers that translates to roughly $2.3m+ in extra space to re-sign or acquire players for the 2010-11 Stanley Cup run, and the benefit ran for several years afterward before Vancouver traded Luongo to Florida.

Kovalchuk for example was paid less then his AAV for 2 of the 3 years in NJ before retiring and going to the KHL. Luongo was significantly overpaid more then his AAV every year in Vancouver.

 

[WingsMJN2965]

1. Frans Nielson (2 x 5.25) (actual 8)
Canucks save 750k in cap and Detroit saves 3 million in real dollars. Straight swap?

Nielsen's deal is constructed similar to Eriksson's, in that Detroit already paid him a $2.5M signing bonus this year.

So this only saves Detroit $500K. No thanks.

 

[LTIR]

NHL really should have allowed one buyout per team if it was smart.
The old n washed up would have been paid out, teams would be stronger and we would not have quality player currently unemployed

 

[Johnsie19]

Maybe two of the worst GMs in the NHL should have shown a little bit of creativity and gotten together to pay another team to eat Luongo’s LTIR cap hit instead of letting him retire.

If Benning was smart he would have traded for Luongo and put him on LTIR for his groin issues. Woulda been nice for him to retire in Van too.

 

[Johnsie19]

NHL really should have allowed one buyout per team if it was smart.
The old n washed up would have been paid out, teams would be stronger and we would not have quality player currently unemployed

For sure it seems logical to have a buy out every few yrs. It just allows more players a chance to play. That or stop with the long term guaranteed money deals. I do think GMs are starting to learn at least. The FA market will be soft for a yrs Im guessing.

 

[Qwijibo]

The only thing that really matters is the cap hit, not the total amount. No one cares about NJ's cap recapture penalty of 250k in 2025.

New Jersey was 12 years x $250k.

Florida was 3 x 1.092m. Thats a 4th liner

Los Angeles was 5 x 1.32m. Another 4th liner

3.1m is Viktor Oloffson. It could also have been the difference between keeping Toffoli


I mean, you're still right, but the other team's penalties dont really impact their teams whatsoever.

Every other team did the IR route , IE Hossa, Zetterberg, Franzen etc. Expect Parise, Suter, and Weber magically go on IR as well.

If Luongo had retired as a Canuck, he would be on the IR as well. Dude had many hip surgeries and retired due to his physically inability to stay in top shape.

Every single penalty was calculated the same way. Vancouver benefitted in a big way from circumventing the cap when they were a cup favourite.
They had opportunities to rid themselves of any future penalty by using a compliance buyout. They chose not to. They gambled by knowingly breaking the spirit of the CBA even though every team was warned not to do it. Now they’re paying the price for several of their own decisions.

 

[JianYang]

If any team is taking on Eriksson's contract, and they don't come out of it with some form of high picks or prospects, then that GM should be fired on the spot.

 

[M2Beezy]

If Benning was smart he would have traded for Luongo and put him on LTIR for his groin issues. Woulda been nice for him to retire in Van too.

Maybe he liked it there better there, Florida is a hot city and Vancity has too much grey n rain from October to April

 

[Djp]

NHL really should have allowed one buyout per team if it was smart.
The old n washed up would have been paid out, teams would be stronger and we would not have quality player currently unemployed

They have an ED coming up creating another $80M in space and you figure Seattle drafts around $75Zm of thst ( some of it traded to other teams)

Teams can entice Seattle to take their player a la buyout.

For sure it seems logical to have a buy out every few yrs. It just allows more players a chance to play. That or stop with the long term guaranteed money deals. I do think GMs are starting to learn at least. The FA market will be soft for a yrs Im guessing.

Remrmber..player buy outs off the books CBOs count agsinst the players share which affects the cap.having 32 buyouts would affect teams.

What might happen in say 2023 after Seattle is in and the cap doesn’t go up, they could do another CBO thing of 2 per team.

What teams need to do us limit contracts on UFAs to 4 yrs. owned team can offer 5 to pkayers 26 and over, 6 to players 25 and younger. In essence limit the contract to 4 yrs of UFA eligible years. Teams can only see out 4 yrs of what they could be in team need.

Personally I’d rather have salary a % of the cap.

League min 0.8%
ELCs 0.8%-1.1%
Max contract is 15%
Contract bonus dollars are limited to 30% of money in a contract and a per year max of 50 %
Then when cap fluctuates up and down its easier.

 

[TBF1972]

Investigating the Hossa deal and handing out no punishment isn't really suggesting it was circumvention though. The deal went through, if they didn't like it they could have sent it back like they did with Kovalchuk, which was a much more egregious deal. In 2009 Dwayne Roloson was 40 yrs old and a starting goalie, go back a couple yrs to 06/07 Dominik Hasek was 42 and Ed Belfour was 41, both were starting goalies, so it wasn't too much of a stretch to think Luongo could still be playing given how talented he was.

The other thing the makes the penalty completely unfair is that no other team had to pay. They simply LTIR'd their players and it never affected their cap. Luongo took a job with the Panthers front office upon retiring further complicating things.

To punish one team, all these yrs later for a deal that was probably the most legit of the bunch isn't fair.

wait until weber retires and nashville gets punished. they not even negotiated the contract. they just matched the contract offer from the flyers.

 

[TBF1972]

NHL really should have allowed one buyout per team if it was smart.
The old n washed up would have been paid out, teams would be stronger and we would not have quality player currently unemployed

actually the nhl saved the owners. most of the gm's would have bought out one albatross contract, just to sign a new one. obviously the players suffer because of the lesser available $$.

 

[TBF1972]

If Benning was smart he would have traded for Luongo and put him on LTIR for his groin issues. Woulda been nice for him to retire in Van too.

can you be on the ltir of one team and in the front office of an other? i doubt it.

 

[RogerRoger]

can you be on the ltir of one team and in the front office of an other? i doubt it.

Pronger was.

 

[bandwagonesque]

Pronger was.

I think Pronger worked for the league, not any particular team, and for the department of player safety, where there was little chance he’d be able to influence the outcome of any games. He waited until his contract expired to take a job with a team, which he did immediately. In any case, Luongo wanted a job with Florida and he took it. I doubt the Panthers were interested in trading him.

 

[LeHab]

Cross your fingers he will COVID opt-out for 20-21.