Rumor: Kostitsyn put on waivers; Heading to KHL?

[PredsV82]

Mutual termination would be awesome.

that makes so much more sense. I had no idea why we would want to toll his contract while he was loaned and pay his cap hit.

Poile is cleaning out the refuse, thats for sure

 

[WartracePred]

that makes so much more sense. I had no idea why we would want to toll his contract while he was loaned and pay his cap hit.

Poile is cleaning out the refuse, thats for sure

As with Erat, if you don't want to be a Pred, the organization sure as hell doesn't want you. Same with Arnott, and, if I had to guess, with Lombardi. Poile seems consistent with this situation.

 

[PredsV82]

I will be pissed if its for buyout not mutual termination, but by the same token, if Poile feels like he needs that cap space so badly that he has to buy him out, then something big is going down

 

[braindead]

Does mutual termination mean no cap hit whatsoever? If so, GMDP may be sly like a fox. Get him exploring options under the friendly, want you to be happy, lend-lease program. Get him excited about moving. Then tell him the only way out is mutual termination because of the cap problems. Otherwise, come on back for 1 more year where Barry Trotz focuses on making you his b**** every single miserable day.

 

[tserberis*]

I will be pissed if its for buyout not mutual termination, but by the same token, if Poile feels like he needs that cap space so badly that he has to buy him out, then something big is going down

Or Poile just think that something big is going down

 

[ThirdManIn]

Does mutual termination mean no cap hit whatsoever? If so, GMDP may be sly like a fox. Get him exploring options under the friendly, want you to be happy, lend-lease program. Get him excited about moving. Then tell him the only way out is mutual termination because of the cap problems. Otherwise, come on back for 1 more year where Barry Trotz focuses on making you his b**** every single miserable day.

The CBA has no language that allows for mutual termination, however it is possible that the NHL could allow a mutual agreement to terminate the contract with no money owed to SK and no cap hit against the Preds since he is looking to go to another professional league. There may have to be other factors in play, though (i.e. SK refusing to report to training camp).

It will be interesting to see how this all works out. If he is claimed by another team none of it matters for us anymore. If the league doesn't allow for the dissolution of the contract and he clears waivers we would have to then buy him out. We would then be on the hook for a portion of his total contract over twice the term, unless I read that wrong while quickly skimming over paragraph 13 of the SPC.

 

[Persona5]

There could be a deal with the KHL team that would pay the buyout penalty of the contract in order for us to allow him to go to the KHL without issue. I could see that happening.

 

[29dryden29]

There could be a deal with the KHL team that would pay the buyout penalty of the contract in order for us to allow him to go to the KHL without issue. I could see that happening.

Not to be a negative influence here but I will. I do not see any KHL team paying any NHL team for anything relating to players. I see KHL teams sitting back saying see we brought another one back.

 

[PredsV82]

The CBA has no language that allows for mutual termination, however it is possible that the NHL could allow a mutual agreement to terminate the contract with no money owed to SK and no cap hit against the Preds since he is looking to go to another professional league. There may have to be other factors in play, though (i.e. SK refusing to report to training camp).

It will be interesting to see how this all works out. If he is claimed by another team none of it matters for us anymore. If the league doesn't allow for the dissolution of the contract and he clears waivers we would have to then buy him out. We would then be on the hook for a portion of his total contract over twice the term, unless I read that wrong while quickly skimming over paragraph 13 of the SPC.

I made that same argument weeks ago and was quickly shouted down that there was in fact a provision for mutual termination

edit: here is a link to the post from caley explaininng that there is in fact "termination waivers"

http://hfboards.mandatory.com/showpost.php?p=66646463&postcount=41

 

[ThirdManIn]

From what myself, Fugu and mouser (two Business of Hockey mods) have read in the new CBA there is no language specifically for the mutual termination of a contract, but the league has allowed for it in the past.

http://hfboards.mandatory.com/showpost.php?p=68565701&postcount=33

http://hfboards.mandatory.com/showpost.php?p=68569019&postcount=37

13.21 in the CBA says that when a team wants to terminate an SPC for any reason they must first put the player on unconditional waivers, which has been done, and the player must clear.

This is how Unconditional Waivers is defined in the CBA:

"Unconditional Waivers" means the process by which the rights to a Player are offered to all other Clubs, without a right of recall at a Waiver price of one-hundred and twenty five dollars ($125) prior to a Club exercising its right to terminate a Player's SPC pursuant to Article 13 of this Agreement and Paragraph 13(a) of the SPC.

And when you look at Paragraph 13(a) of the SPC it says:

13. The Club, in addition to other rights hereunder, at its option, by written notice delivered
to the Player in accordance with Exhibit 3, may terminate this SPC on the following conditions:
(a) The Club shall offer the Player on Unconditional Waivers, either before or promptly after the notice of intention to exercise the Ordinary Course Buy-Out option (herein called "notice of termination") is given.

It goes on from there to outline the buy out procedure.

So there is a way to terminate a contract after a player clears unconditional waivers, but standard operating procedure seems to be a buy out. If we want to completely dissolve the contract the league will have to approve it as there is no provision within the CBA that allows for it otherwise short of the team defaulting on the contract. Even if SK were to refuse to report the league could still make the club suspend the player rather than simply terminating the contract, however in this case it seems like SK is set on playing in the KHL. Maybe the league allows us to terminate the contract because he is not attempting to negotiate a new deal with a new NHL team.

He could also retire from the NHL. In that case we would retain his rights if he ever came back.

 

[PredsV82]

from readin these examples:

Five players were placed on termination waivers this year: Avtsin, Alain Berger (also by Montreal), Nick Petersen (by Pittsburgh), Corey Elkins (by Anaheim) and Niko Hovinen (by Philadelphia), all but Hovinen had their deals terminated (Hovinen was claimed by Edmonton and assigned to their AHL team, where he is still dressing as their back-up). Avtsin, Berger and Elkins all left their NHL teams for teams in Europe, while Petersen signed an AHL deal with Houston (It's been speculated that his termination had to do with his wife's health problems).

it appears that the NHL allows contract termination if the player clears waivers and has another destination. That would be the same situation here with SK. so if he clears and has a deal with a KHL team then he should be good to go with no cap hit for us.

 

[Infinite Jest]

In the end, it doesn't really matter. We wont be paying him, and I very highly doubt that we'll be all that close to the cap with his 3 million. The fact that we'd actually need the cap space is unfathomable to me. We just aren't a franchise that is a big player in the free agent market.

 

[ThirdManIn]

Voldie, I agree after having spent the better part of the past three hours discussing this and reading over the relevant parts of the CBA. If he is KHL bound and he clears waivers I see no reason for the NHL to not allow for a termination of the contract.

Infinite, we may not spend to the cap, but knowing we have that extra $3m in space to use could be the difference making a solid pitch to a big FA and not. It's better to have the room and try to use it than not have it and not be able to even try.

 

[Dave is a killer]

Oh my god, awesome move by Poile, when do we find out what kind of waivers ... mutual termination or buyout and would that be considered a compliance buyout or a regular run of the mill buyout

 

[ThirdManIn]

There are no mutual termination waivers. He was put on unconditional waivers, which, according to Paragraph 13(a) of the SPC, typically leads to a buy out. However, the NHL is able to approve mutual termination of a contract. Typically it happens when a player refuses to report (i.e. re-assigned to the AHL, but does not report), but it has happened in the past for lesser known players wanting to go back to Europe.

Once we know whether or not he clears we should have some more information about the next step.

 

[Infinite Jest]

Voldie, I agree after having spent the better part of the past three hours discussing this and reading over the relevant parts of the CBA. If he is KHL bound and he clears waivers I see no reason for the NHL to not allow for a termination of the contract.

Infinite, we may not spend to the cap, but knowing we have that extra $3m in space to use could be the difference making a solid pitch to a big FA and not. It's better to have the room and try to use it than not have it and not be able to even try.

With an ordinary buyout of Gill, the signing of Seth Jones and a 1 mil back-up goalie, the Preds should still have around 9 million in space. I didn't mean that I don't expect them to add anyone, they're going to have to if they hope to be competitive at all next year. I just can't see them spending all 9 mil, much less spending it and needing 3 more.

Of course it's better to have it and not need it than need it and not have it. I just can't see a scenario where they'd the space.

 

[AtlantaWhaler]

Just getting caught up on the day... Great news!

 

[AtlantaWhaler]

I assume he cleared?

 

[ThirdManIn]

According to Ryan Rishaug from TSN, all players placed on waivers yesterday cleared.

 

[Tennman]

Championat.com reports Sergei Kostitsyn signed 3-year contract with Avangard of KHL

 

[PredsV82]

Championat.com reports Sergei Kostitsyn signed 3-year contract with Avangard of KHL

good deal... everyone is happy now

 

[Roman Yoshi]

Championat.com reports Sergei Kostitsyn signed 3-year contract with Avangard of KHL

My reaction

 

[NSH615]

The Predatorial's twitter account is reporting that the cap hit will count this year.

 

[AtlantaWhaler]

The Predatorial's twitter account is reporting that the cap hit will count this year.

Maybe this brought on the Gill move.

 

[PredsV82]

Maybe this brought on the Gill move.

I think gill was bought out to clear a roster spot for jones and to give him a chance to sign elsewhere

gills (bought out) cap hit will count unless we use a compliance buyout for him.. of course thats only 667K, but between him and SK that will be 2.77 in dead cap space.. might not matter now but if we need to acquire someone at the deadline it could come back to bite us