Speculation: Roberto Luongo might be retiring - will we be subject to a recapture penalty?

[canuckfan75]

Article today by Pierre Lebrun in the Athletic. Florida going on a spending spree this offseason

with Bobrovsky and Panarin on there shopping list. if they were to get Goalie Bob that would mean a issue for Roberto Loungo as they have Reimer and the new kid who is doing very well .... Sam Montembeault who turns 23 in October. Reimer can be cut lose by good old Bobby Lu still has 3 years left on his deal till the end of the 2021 /2022 season. when he will be 43 years old Salary wise is ok. he is only owed $3.6 miilion over the last 3 years. But there is the Salary Cap Recapture Penalty that people may have forgotten about but not Mr Gary Bettman. This could really screw over Vancouver especially if he retires in two years. the penelty then will be $8.5 million not good at all. considering that will be the year that both Hughes and Pettersson will need new contracts.

here is the breakdown of the clawbacks if Luongo retires in

2019 - $2,840,124 x 3 years
2020 - $4,260,186 x 2 years
2021 - $ 8,520,373 x 1 year - Pettersson and Hughes contract years


I wonder if Jimmy understands what is coming down the road potentially


LeBrun: Panthers already feeling changes ahead of what's...

Click to read more...

 

[canuckfan75]

ps - Roberto said in the article that there is no way he ever plays for another team. it is Florida or Retires.

 

[ginner classic]

If he does not LTIR, it's far better that he retires now than a year or two from now. I have zero issues with this and don't see it as screwing the Canucks at all.

 

[canuckfan75]

The only way this is not a issue for Vancouver is if they put him on LTIR. with what is his injury? do you think the league would not investigate?

 

[StreetHawk]

The only way this is not a issue for Vancouver is if they put him on LTIR. with what is his injury? do you think the league would not investigate?

If he’s still playing I would question what his injury is.

 

[Megaterio Llamas]

I've been patiently waiting for the recapture penalty. Bobby is 40 in a few days and his salary drops the one million or less next season and for the following two. The decision to retire makes itself.

 

[Melvin]

The only way this is not a issue for Vancouver is if they put him on LTIR. with what is his injury? do you think the league would not investigate?

The league is simply never going to enforce this in a serious way. The only contract that has ever been recaptured is Richards, and that was an extreme circumstance.

Luongo will go on LTIR or they will find some other solution. I am not worried about this in the slightest.

I mean, look at Hossa. An allergy he had been playing with for his entire career. Luongo has chronic hip problems or back problems or whatever it is.

 

[Megaterio Llamas]

The league is simply never going to enforce this in a serious way. The only contract that has ever been recaptured is Richards, and that was an extreme circumstance.

Luongo will go on LTIR or they will find some other solution. I am not worried about this in the slightest.

I mean, look at Hossa. An allergy he had been playing with for his entire career. Luongo has chronic hip problems or back problems or whatever it is.

How can the Canucks put him on the IR if he's Florida Panther property. Forgive me, there is probably an obvious answer here but I'm missing it?

 

[Melvin]

How can the Canucks put him on the IR if he's Florida Panther property. Forgive me, there is probably an obvious answer here but I'm missing it?

Florida will put him on ltir. Why would Luongo retire when he's still owed money?

 

[Megaterio Llamas]

Florida will put him on ltir. Why would Luongo retire when he's still owed money?

It's chump change though. As I mentioned, the contract dwindles down to bread crumbs for the last three seasons. I doubt he's willing to go to Tallahassee or wherever the Panthers might send him to play out the string in his forties for sandwich money.

 

[canuckfan75]

Does this guy look injured to you ?

 

[BeardyCanuck03]

I'm pretty certain that players on LTIR are covered by insurance partially. I wouldn't be surprised if that's the route they take and then the Canucks aren't on the hook.

 

[Melvin]

It's chump change though. As I mentioned, the contract dwindles down to bread crumbs for the last three seasons. I doubt he's willing to go to Tallahassee or wherever the Panthers might send him to play out the string in his forties for sandwich money.

A million bucks is a million bucks. Why leave it on the table if you don't have to? And why would Florida do that? The Panthers and Luongo will work something out so he can Pronger and still collect a paycheque.

 

[4Twenty]

A million bucks is a million bucks. Why leave it on the table if you don't have to? And why would Florida do that? The Panthers and Luongo will work something out so he can Pronger and still collect a paycheque.

It shocks me that people still even consider a recapture here. He's also a Florida resident, so the $$ wouldn't be taxed as significantly as it could be. Funny that $6m is considered chump change, especially to an Italian. LOL

 

[StreetHawk]

It shocks me that people still even consider a recapture here. He's also a Florida resident, so the $$ wouldn't be taxed as significantly as it could be. Funny that $6m is considered chump change, especially to an Italian. LOL

It’s $3.6 million.

Kovachuck is also a recapture because he bolted to the K.

 

[Pure West]

I'm starting to get the feeling that we will be the only team truly punished by the cap recapture penalty. The league allowed Hossa's "skin condition" and Zetterberg's "back issues", which were really just they didn't want to play for a fraction of the salary they used to make. But it would be trademark Canucks treatment by the league if Florida attempts to put Luongo on LTIR with some lingering hip/groin issues that they will investigate and throw the hammer down. To be fair, I think we should face some consequences for doing a cap-cheating contract after being warned, but the other teams should too.

 

[Megaterio Llamas]

It's $3.6 over the last three years. I've always assumed he walks away from it but maybe I'm wrong. We'll see.

 

[4Twenty]

It’s $3.6 million.

Kovachuck is also a recapture because he bolted to the K.

This scenario for Luongo is near identical to Zetterberg...if he can't train in the offseason, he won't pass a pro sports teams physical, thus he collects money and doesn't have to play. Kovalchuk didn't go on LTIR, he retired in his prime to leave the league.

Thanks for correcting the numbers, I forgot it had 2 years of $1m....still doesn't change my stance.

 

[4Twenty]

It's $3.6 over the last three years. I've always assumed he walks away from it but maybe I'm wrong. We'll see.

Why would he walk away from it?

 

[Megaterio Llamas]

he league allowed Hossa's "skin condition"

I thought the Blackhawks lost that battle? Isn't he 'helping' the Coyotes get to the cap floor these days?

 

[Megaterio Llamas]

Why would he walk away from it?

I'm starting to think he probably won't now that I'm reading how commonplace it is to cheat the system.

 

[FroshaugFan2]

It's chump change though. As I mentioned, the contract dwindles down to bread crumbs for the last three seasons. I doubt he's willing to go to Tallahassee or wherever the Panthers might send him to play out the string in his forties for sandwich money.

I don't really believe $3.6 million dollars is chump change.

Demoting Luongo to the AHL only saves the Panthers ~$1M in cap space and they would still have to pay his full salary. That's hardly ideal.

On LTIR the Panthers would have his full cap hit relieved (if necessary) and insurance would pay out his salary.

Luongo is turning 40 this year and has a history of hip and groin issues. I don't think it would be hard for doctor to advise against playing goalie in the NHL for the benefit of Luongo's long term health. For the NHL to then force a player who doesn't believe they are physically capable into playing would cause a massive battle with the NHLPA.

 

[Megaterio Llamas]

I don't really believe $3.6 million dollars is chump change.

Demoting Luongo to the AHL only saves the Panthers ~$1M in cap space and they would still have to pay his full salary. That's hardly ideal.

On LTIR the Panthers would have his full cap hit relieved (if necessary) and insurance would pay out his salary.

Luongo is turning 40 this year and has a history of hip and groin issues. I don't think it would be hard for doctor to advise against playing goalie in the NHL for the benefit of Luongo's long term health. For the NHL to then force a player who doesn't believe they are physically capable into playing would cause a massive battle with the NHLPA.

Sold. You guys have convinced me. I realized that cheating the system was prevalent, but nothing like what I'm reading now.

 

[y2kcanucks]

Article today by Pierre Lebrun in the Athletic. Florida going on a spending spree this offseason

with Bobrovsky and Panarin on there shopping list. if they were to get Goalie Bob that would mean a issue for Roberto Loungo as they have Reimer and the new kid who is doing very well .... Sam Montembeault who turns 23 in October. Reimer can be cut lose by good old Bobby Lu still has 3 years left on his deal till the end of the 2021 /2022 season. when he will be 43 years old Salary wise is ok. he is only owed $3.6 miilion over the last 3 years. But there is the Salary Cap Recapture Penalty that people may have forgotten about but not Mr Gary Bettman. This could really screw over Vancouver especially if he retires in two years. the penelty then will be $8.5 million not good at all. considering that will be the year that both Hughes and Pettersson will need new contracts.

here is the breakdown of the clawbacks if Luongo retires in

2019 - $2,840,124 x 3 years
2020 - $4,260,186 x 2 years
2021 - $ 8,520,373 x 1 year - Pettersson and Hughes contract years


I wonder if Jimmy understands what is coming down the road potentially


LeBrun: Panthers already feeling changes ahead of what's...

Would be hilarious if he retires in 2020 or 2021. All those "but cap space don't matter so it's okay for Benning to overpay for bad hockey players" people will have some 'splainin to do.

 

[FroshaugFan2]

I thought the Blackhawks lost that battle? Isn't he 'helping' the Coyotes get to the cap floor these days?

No, the NHL let the Blackhawks put him on LTIR. Hossa was on LTIR with the Blackhawks last season and is on IR with the Coyotes this season.

The Blackhawks traded him so they had more flexibility when setting their roster. LTIR can't be used until after the opening day roster is set, so trading him relieved that issue. Also you don't get LTIR relief in the offseason.