Rumor: Kostitsyn put on waivers; Heading to KHL?

[ThirdManIn]

I guess the only silver lining is we save $900k in cap space to not have a disinterested SK floating around hardly doing anything more than taking up a roster spot.

It still takes the wind out of the sails of the whole "Yeah let him move on!" idea. Who would've thought that our team would be one to suffer from the new CBA closing the buried contracts loophole? Here I thought it was for the rich clubs who could send overpaid players to the minors

 

[PredsV82]

I guess the only silver lining is we save $900k in cap space to not have a disinterested SK floating around hardly doing anything more than taking up a roster spot.

It still takes the wind out of the sails of the whole "Yeah let him move on!" idea. Who would've thought that our team would be one to suffer from the new CBA closing the buried contracts loophole? Here I thought it was for the rich clubs who could send overpaid players to the minors

the conspiracy theorists will swear this is all a ruse by the owners to not have to spend up to the cap.

 

[Enoch]

What a joke. 3 million dollars in cap space should be treated like gold. But surprise. We could care less.

This is poor asset management, again, at its finest.

 

[PredsV82]

Problem is Poile has no options.

SK says "I want to go to the KHL or you can pay me $3 million and I'll sit around and pout all year"

The only other option is to use a compliance buyout, which costs cash but not cap space. With our owners Im sure they would rather lose cap space.

I would have thought there would be a mutual termination option and if thats allowed under this new CBA I dont know why that isnt being pursued.

 

[PFL615]

Wow, well so much for using that money on something else. Are we tied to his 3m cap hit every year until he comes back from the KHL and it is played out or he is traded?

 

[Preddownsouth]

What a joke. 3 million dollars in cap space should be treated like gold. But surprise. We could care less.

This is poor asset management, again, at its finest.

Yep this of course is all Poile's fault. No doubt he can trade SK for at least a 2nd round draft pick amirite?

 

[Enoch]

Yep this of course is all Poile's fault. No doubt he can trade SK for at least a 2nd round draft pick amirite?

Incorrect.

My comments stand: we are giving away an extremely valuable asset in cap room to save cash in a league where GMs are dying to have that space.

 

[WartracePred]

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.

Discounting last season, that's a hell of a lot of the Preds offense for the past few years. BIG holes to fill losing Erat and SK.

 

[101st_fan]

Incorrect.

My comments stand: we are giving away an extremely valuable asset in cap room to save cash in a league where GMs are dying to have that space.

But what GM would trade for SK just to buy him out using one of two potential amnesty buyouts?

 

[Enoch]

But what GM would trade for SK just to buy him out using one of two potential amnesty buyouts?

I just think we should call it like it is. We are saving cash. End of story. In an organization that is claiming they have turned the corner, we have done very little to show this to the fans.

 

[101st_fan]

I just think we should call it like it is. We are saving cash. End of story. In an organization that is claiming they have turned the corner, we have done very little to show this to the fans.

Dead cap space or dead real money spent is an ownership, not GM, decision ... and one the team has until July 4th to change its mind about.

 

[Paranoid Android]

Did anyone seriously think we'd be spending within $3M of the cap anyway?

When ownership said "we'll be close to a cap team" I took that as we'll be just over the midpoint

 

[Jarnberg]

This is our franchise's fantasy. Cap hit without actual salary.

 

[braindead]

Did anyone seriously think we'd be spending within $3M of the cap anyway?

When ownership said "we'll be close to a cap team" I took that as we'll be just over the midpoint

This is right, I think. The cash matters more to us than the cap. That is a sad commentary as Enoch points out, in a league where most teams worry about cap. However, the cash is now available to spend so life goes on.

 

[glenngineer]

From Poile in the wrap today.

There is some question in regard to how that would work under the NHL’s collective bargaining agreement. Kostitsyn is owed $3 million next season, and it’s rare for a player with an existing dealto leave for another league in the middle of his contract.

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.

 

[braindead]

This is our franchise's fantasy. Cap hit without actual salary.

Yep. In fact, we probably can guess at some potential trades by looking at any player with a substantially bigger cap hit than cash hit that is underperforming. This day started with a Ryan Malone (2.5M cash/4.5M cap) discussion.... that's the path we are on.

 

[ThirdManIn]

the conspiracy theorists will swear this is all a ruse by the owners to not have to spend up to the cap.

Meh, I'm not happy with it either, but I'll get really pissed when there is concrete evidence to show we could have had X player had we only had that extra cap space.

I'm still trying to determine if it is the full $3m, or if it is $3m - $900k. The "league minimum plus $375,000" provision could simply mean for players going to the AHL, but the CBA does say playing "in another professional league." To me that is black and white. If your player, who is under contract, is loaned to any professional league at all then your team is on the hook for his cap hit minus $900k (until the league minimum goes up).

Also, it seems as though if the Club is on the hook for the cap hit then the contract will not be tolled. That would, in effect, mean that Kostitsyn's cap hit would be applied to the Predators for as long as he remains in another professional league, which makes absolutely no sense.

 

[Paranoid Android]

No, his contract with us expires after 1 year and so would the cap hit.

 

[Top 6 Spaling]

Why don't we just terminate the deal and pay him nothing? Will SK not agree?

 

[glenngineer]

Why not use the compliance buyout and have his KHL team pay us what we'd pay him.

 

[ThirdManIn]

To terminate the contract we would have to buy him out.

 

[ThirdManIn]

Why not use the compliance buyout and have his KHL team pay us what we'd pay him.

It is easier to simply loan him, take the cap hit, not pay any money at all and not wait for payment from the KHL club. I'm not sure there would be any way to ensure we receive such payment anyway, and there is little reason for the KHL club to even agree to such a thing.

 

[Enoch]

It is easier to simply loan him, take the cap hit, not pay any money at all and not wait for payment from the KHL club. I'm not sure there would be any way to ensure we receive such payment anyway, and there is little reason for the KHL club to even agree to such a thing.

Sure there is - we refuse to let him go overseas instead of cooperating (and yes I realize we do not want him on the roster but this is a hypothetical.)

 

[Paranoid Android]

Why not use the compliance buyout and have his KHL team pay us what we'd pay him.

I doubt that would fly with the NHL. That is basically cap circumvention.

As far as mutual termination goes, I'm beginning to think that's not kosher either. Maybe there are certain circumstances that must be met before you can take that route? I dunno.

I actually really like this new CBA rule. No more burying your mistakes in the minors or Europe. Luckily, this will have no effect on us since we don't spend to the cap anyway.

 

[ThirdManIn]

Sure there is - we refuse to let him go overseas instead of cooperating (and yes I realize we do not want him on the roster but this is a hypothetical.)

That is always an option, but it isn't a viable one really. We refuse to let him go until we get the money. They refuse to pay until they get the player. We're on the hook for the salary, the cap hit and the roster spot.