Doesn't the player count against the cap at the beginning of the season, though? I thought I remembered something about how Philly had to get cap compliant before they could put Pronger on LTIR at the start of the season.
If that's the case it doesn't give you as much flexibility to make moves in the offseason because the $4M would still count against the cap right up until the season's start when he could be put on LTIR.
Yeah, you have to put him on LTIR the first day of the season. I'm not sure exactly how they work that timeline, because you're also supposed to be cap compliant by the first day. There would probably be some paper moves you have to go through every year, just to keep Bettman off your back, but nothing serious. And in the offaseason you be 10% over the cap without penalty.
Where Franzen would give us wiggle room is making in-season moves. He'd be a built in $4m buffer. I don't think we come that close to the cap, though. Maybe next season, if we splurge big on someone like Vanek and/or Markov, but we're going to have so many kids stepping in over the next few years.