Jaromir Jagr: extra deduction?

[MacDaddy TLC*]

With 20% of total cap being the limit on how much one player can make, is Jaromir Jagr taking an extra $560K off his salary? His 11 mill minus the 24% is $8.36mil and 20% of $39mil being $7.8 million, it would seem Jagr will lose a little more.

Sorry if this has been addressed already, but I couldn't find it.

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[Lobstertainment]

With 20% of total cap being the limit on how much one player can make, is Jaromir Jagr taking an extra $560K off his salary? His 11 mill minus the 24% is $8.36mil and 20% of $39mil being $7.8 million, it would seem Jagr will lose a little more.

Sorry if this has been addressed already, but I couldn't find it.

I've noticed that too, I guess it means he falls to 7.8, or maybee he gets 7.8 and the rest of the 8.36 million(the 560K) is escrowed.

 

[Spungo*]

I've noticed that too, I guess it means he falls to 7.8, or maybee he gets 7.8 and the rest of the 8.36 million(the 560K) is escrowed.

He gets his 8.36, but only 7.8 counts towards the cap. All players making more than 20% of 39m will be grandfathered into the new CBA.

 

[Large_Farva*]

Only $4.18 Million is counting towards the Ranger's Cap.

 

[NYRangers]

They said they will grandfather those big contracts in.

 

[CrazyCanucks]

They said they will grandfather those big contracts in.

Where does it say that? Sources? Links?

 

[NYRangers]

Man I'm not going to be able to find it now. Theres like a billion articles on the CBA, I can't remember which one. You'll just have to believe me.

 

[CrazyCanucks]

I have read alot of artcles, and none of them mentioned that. Also the panels on TSN, The Score and Sportsnet never reported that

 

[MacDaddy TLC*]

There was also a thread here over the last few days saying absolutely no grandfathering. I saw where Jagr's cap hit will be split between the Caps and Rangers and maybe that is how he escapes with all his cash. Are the Caps paying half of his salary?

 

[NYRangers]

Yes, see? There have been numerous articles how the Rangers and Caps will split his money.

It only effects a couple of guys. Like Yashin. Look around for the article in this forum, I found it in here buried under garbage.

 

[MacDaddy TLC*]

I don't see how Yashin would fit into this. His contract is the sole stupidity of the NY Islanders. Also, Yashin with the 24% deduction is under the $7.8 mil magic number.

EDIT: Do teams have to spend the 39 million for the 20% to be counted against 39 million, or will it be 20% of their total salary?

 

[Spungo*]

I have read alot of artcles, and none of them mentioned that. Also the panels on TSN, The Score and Sportsnet never reported that

Yes they did. That's where I heard it, on TSN.

 

[Spungo*]

I don't see how Yashin would fit into this. His contract is the sole stupidity of the NY Islanders. Also, Yashin with the 24% deduction is under the $7.8 mil magic number.

EDIT: Do teams have to spend the 39 million for the 20% to be counted against 39 million, or will it be 20% of their total salary?

20% of 39 million.

 

[Taranis_24]

Thought I heard the 39M includes players cost around 2.2M so the salary cap is really around 37M if i am not mistaken. Caps were on the hook for like 40.9% of his remaining salary (4.5 out of 11M). Would think this gets prorated the same 40% out either 7.8M or 8.36M? Think this is something that will have to be specifically addressed at the BOG next week.

 

[Trizent]

My understanding is that Jagr's contract will count against the NYR cap. Just because the Caps are paying part of his salary doesn't necessarily mean that it will count against the Caps cap. Basically the money deal between NYR and Capitals is separate to the Salary Cap situation.

 

[Drake1588]

The Caps are on the hook for $4.5M per each remaining year of the $11M/yr contract. Post rollback, that's $3.87M the Caps are paying, and $5.59M the Rangers are paying each year left on the deal.

For the purposes of the salary cap, the league determined that the contract is split in half: for the nearly $9.5M Jagr receives each year, post-rollback, about $4.75M is charged against each team's salary cap figure.

This is presumably fine for the Capitals since they have no intention of maxing out their cap. The Rangers, on the other hand, probably will be very close to the cap. Works for everyone. Since Jagr's cap percentage is halved between the Caps and Rangers, it is not an issue in terms of percentage of a team's total budget. He is only taking up $4.75M of the Rangers' cap space, even though his actual salary is almost $9.5M/yr.

That should cover it.

 

[Mess]

With 20% of total cap being the limit on how much one player can make, is Jaromir Jagr taking an extra $560K off his salary? His 11 mill minus the 24% is $8.36mil and 20% of $39mil being $7.8 million, it would seem Jagr will lose a little more.

Sorry if this has been addressed already, but I couldn't find it.

Not lost to Jagr .

Leafs Lunch convered this issue on tuesday ..

Jagr will receive a payout they called market correction .. His contract will be adjusted using a similar rule to the signing bonus would be and allow Jagr to receive the 560k in payment in terms above and beyond his contract.

Under the new CBA Jagr contract will only be $7.8 mil ..

 

[free0717]

Only $4.18 Million is counting towards the Ranger's Cap.

Will it be 4.18 half of 8.36 ir 3.9 million half of 7.8 million against the cap?

 

[RangerBoy]

Jagr is the only player in the NHL whose salary for the upcoming season - reduced by the collectively bargained 24% rollback - exceeds the $7.8 million individual player cap. But the Daily News has learned that a grandfather clause on existing contracts ensures that he'll get the entire $8.36 million he's due.

And that, for the purpose of calculating their room under the $39 million team cap, the Rangers only will be charged the amount they pay him - approximately $4.4 million.

The Washington Capitals agreed to pay $4 million of Jagr's annual salary as part of the January 2004 trade that sent him to New York. But that $4 million won't be charged against the Caps' cap. However, it will be included in the league-wide calculation of total player costs, which is capped at 54% of league revenues and reimbursable to owners via a periodic escrowing.

http://www.nydailynews.com/sports/story/328555p-280821c.html

 

[RangerBoy]

Of the 288 players under contract for 2005-06, only the Rangers' Jaromir Jagr ($8.36 million) earns more than that, after the rollback. His contract is grandfathered, under terms of the new agreement.

http://www.theglobeandmail.com/servlet/story/RTGAM.20050714.wnewcba/BNStory/Sports

 

[Chilly Willy*]

http://www.nydailynews.com/sports/story/328555p-280821c.html

Well then, i guess Jagr is staying put.

 

[HockeyCritter]

The Caps are on the hook for $4.5M per each remaining year of the $11M/yr contract. Post rollback, that's $3.87M the Caps are paying, and $5.59M the Rangers are paying each year left on the deal.

For the purposes of the salary cap, the league determined that the contract is split in half: for the nearly $9.5M Jagr receives each year, post-rollback, about $4.75M is charged against each team's salary cap figure.

This is presumably fine for the Capitals since they have no intention of maxing out their cap. The Rangers, on the other hand, probably will be very close to the cap. Works for everyone. Since Jagr's cap percentage is halved between the Caps and Rangers, it is not an issue in terms of percentage of a team's total budget. He is only taking up $4.75M of the Rangers' cap space, even though his actual salary is almost $9.5M/yr.
That should cover it..

Says who? I haven't found one credible source (and don't feed me Brooks' articles) that says anything one way or the other.

 

[Buffaloed]

Well then, i guess Jagr is staying put.

Not necessarily, he's been known to wear out his welcome. While the reduction to a $4.4 million cap hit helps out the Rangers, it also makes him attractive trade bait.

 

[Fedz]

Don't worry about Jagr being under, he's had some paid by Washington, but Lidstrom with the rollback is worth more than the 20% he can be worth. Does that mean Detroit *HAS* to buy him out?

EDIT: Damn, I'm stupid, ignore that post.

 

[Motown Beatdown]

Don't worry about Jagr being under, he's had some paid by Washington, but Lidstrom with the rollback is worth more than the 20% he can be worth. Does that mean Detroit *HAS* to buy him out?

EDIT: Damn, I'm stupid, ignore that post.

Lids will be at 7.6 million so even with the grandfather he would have been okay.