Rumor: Kostitsyn put on waivers; Heading to KHL?

[WartracePred]

Let him walk he is only going to continue his downward spiral. There is a reason HABS fans were happy to see him go and now you guys are living it also. Hope that crow is tasty for that told me it was all sour grapes lol.

That "I told you so" took much longer than I thought. FWIW, I was skeptical at first, then pleasantly surprised, and finally, disappointed. In all fairness, the Preds got a lot of value out of SK without giving up anything. He did lead the team in goals one season. It was fun while it lasted. Time to move on.

 

[Dave is a killer]

https://twitter.com/doronin_d/status/349970436072816641

#preds sergey kostitsyn agrees on one-year contract wigh avangard omsk, izvestia reports #khl #nhl

Dude writes for ... http://www.championat.com ... seems legit to me.

 

[AtlantaWhaler]

Wow! Kinda pissed we don't get the $3 mil off our cap.

 

[Infinite Jest]

https://twitter.com/doronin_d/status/349970436072816641



Dude writes for ... http://www.championat.com ... seems legit to me.

I wouldn't be upset one bit if it were true, but I'll wait until someone with a bit more clout reports it. For some reason, I am not swayed by a guy with 36 followers on twitter.

Edit: I found it on a more reputable site now, it says that they are still in discussions and are very close to a one year deal.

 

[NoNecksCurse]

Wow! Kinda pissed we don't get the $3 mil off our cap.

if we don't get it off the cap, poile is a dumbass... and can literally be fired tomorrow and ill dance naked in the streets.

 

[Drake744]

I'm willing to eat $3 million just to get rid of him.


sarcasm



Anyway, so what's the deal with the cap hit?

 

[ThirdManIn]

Let him walk he is only going to continue his downward spiral. There is a reason HABS fans were happy to see him go and now you guys are living it also. Hope that crow is tasty for those that told me it was all sour grapes lol.

We took very little risk, and he was a pretty good player for us for two years. I'm not eating any crow at all.

Besides, I seem to recall your issues with him were more off the ice issues than anything else. He didn't have any off the ice issues here. So he wants out? That's fine. He seemed discontent with being here, so let him go.

We got all the mileage out of him we needed.

 

[ThirdManIn]

if we don't get it off the cap, poile is a dumbass... and can literally be fired tomorrow and ill dance naked in the streets.

Just don't dance naked in the streets if he happens to be fired on a weekend, unless you have money for bond. A weekend in jail wouldn't be fun

Yeah having to eat his cap hit is no bueno.

The entire reason I was OK with letting the two sides part ways is because I figured we could use the cap space for someone else. ******* it.

 

[Persona5]

if we don't get it off the cap, poile is a dumbass... and can literally be fired tomorrow and ill dance naked in the streets.

I agree or maybe spending to the cap is just a lie they keep telling fans to keep the building full.

Would this mean SK would still owe his services to us for one year? If he ever comes back does that one year continue until we do something with it. I really don't understand the reasoning behind keeping that contract on the books....

 

[Drake744]

OTF wrote this today, so what am I missing with the cap hit?

Under the CBA there is the option of loaning a player to a team outside North America, in which case the Preds wouldn't have to pay Kostitsyn's salary or take his cap hit.

 

[ThirdManIn]

I was under the assumption that if he was on loan his cap hit wouldn't count against us. AW, where did you see we'll have to keep his cap hit?

 

[ThirdManIn]

I agree or maybe spending to the cap is just a lie they keep telling fans to keep the building full.

Would this mean SK would still owe his services to us for one year? If he ever comes back does that one year continue until we do something with it. I really don't understand the reasoning behind keeping that contract on the books....

As far as I know, both parties cannot simply agree to terminate the contract. We would have to buy him out. If he is put on loan, from what I understand and what was written on OTF, we would retain his rights but we wouldn't have to retain his cap hit or pay his salary.

 

[AtlantaWhaler]

I was under the assumption that if he was on loan his cap hit wouldn't count against us. AW, where did you see we'll have to keep his cap hit?

Quoted from Pananoid Android in Post #72

10. Contracts Outside the League

Money paid to Players on NHL SPCs (one-ways and two-ways) in another professional league will not be counted against the Players’ Share, but will be counted against the NHL Club’s Averaged Club Salary for the period during which such Player is loaned to another professional league as follows:

a) In the case of a one-way SPC, the AA of such SPC less the then applicable NHL Minimum Salary plus $375,000 (e.g., currently $900,000) will be counted against the Club’s Averaged Club Salary, or

b) In the case of a two-way SPC, the total compensation (defined for these purposes as the greater of: i) that League’s Year’s stated Paragraph 1 Minor League Salary and Bonuses (other than Exhibit 5 Bonuses unless earned) and ii) guaranteed salary and Bonuses) in excess of the then applicable NHL Minimum Salary plus $375,000 (e.g., currently $900,000) will be counted against the Club’s Averaged Club Salary.

For further clarity, any Exhibit 5 performance bonuses payable but not earned/paid shall not be charged to the Club’s Averaged Club Salary pursuant to this provision. For example, if a Player on a two-way SPC with Paragraph 1 Salary of $600,000/$60,000 and Earnable Exhibit 5 Performance Bonuses of $2,850,000 (AA = 3,450,000) is Loaned to another professional League, the Player’s Club will not receive a charge to its Averaged Club Salary for as long as such Player is on Loan.

 

[triggrman]

Quoted from Pananoid Android in Post #72

But is says money paid to players on NHL SPCs in another professional league. If he's not being paid would it still count?

 

[AtlantaWhaler]

But is says money paid to players on NHL SPCs in another professional league. If he's not being paid would it still count?

I'm ultimately confused, but this sounds pretty definite:

Money paid to Players on NHL SPCs (one-ways and two-ways) in another professional league will not be counted against the Players’ Share, but will be counted against the NHL Club’s Averaged Club Salary for the period during which such Player is loaned to another professional league

 

[triggrman]

I'm ultimately confused, but this sounds pretty definite:

To me that doesn't apply since the Predators are not paying him.

 

[AtlantaWhaler]

To me that doesn't apply since the Predators are not paying him.

To me, it sounds like it states that the NHL club won't have to pay the actual cash, but will still be on the hook on the cap.

 

[Infinite Jest]

Poile said the Predators would loan Kostitsyn to the KHL and would be responsible for his $3 million salary cap hit but not his salary.

From Cooper

 

[PredsV82]

the way I read it if we LOAN him out (ie we would still retain his rights and would presumably toll his one year contract with us so he would owe us a year at $3 million if he ever comes back) then we would take a cap hit of 2.1 million (3 million- 900,000)

but Im thinking if he does this we may mutually terminate his contract at which time there is no cap consequence

 

[Dave is a killer]

To me that doesn't apply since the Predators are not paying him.

http://t.co/Q837PjLgwm ... Last paragraph of this link will give you your answer.

 

[ThirdManIn]

Yeah it looks like we will be on the hook for the cap hit. I forgot about them tying up loopholes with regards to burying contracts outside of the NHL.

 

[ThirdManIn]

I read it the same way Voldy read it. It is the average salary less the league minimum ($525k) + $375k = $900k.

edit: Cap Geek seems to agree with this as well.

BURIED CONTRACTS (Wade Redden Rule)
Money paid to players outside of the NHL counts against the cap.
A one-way contract counts against the cap as follows:
cap hit – [ minimum salary + $375,000 ]
Example: If Wade Redden plays in the minors in 2012-13, he counts as follows.
$6.5M – [ $525,000 + $375,000 ] = $5.6M
A two-way contract counts as follows:
minor-league salary – [ minimum salary + $375,000 ]
Example: Player A’s two-way contract pays $3M/$1M in 2012-13 and counts as follows in the minors.
$1M – [ $525,000 + $375,000 ] = $100,000

So if it is his cap hit minus $900k we will be on the hook (cap hit-wise) for $2.1m instead of $3m.

 

[kypredsfan]

Well hell. Our team is going to be young this year. We lost Marty and SK now, both who can score. Good luck SK, hope you are happy now.

 

[AtlantaWhaler]

Well ****. That sucks.

 

[Drake744]

Poile said the Predators would loan Kostitsyn to the KHL and would be responsible for his $3 million salary cap hit but not his salary.

From Cooper

phenominal