Some renegotiation permitted per NYPost

Discussion in 'Fugu's Business of Hockey Forum' started by sparr0w, Jul 21, 2005.

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  1. sparr0w

    sparr0w Registered User

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    http://www.nypost.com/sports/50574.htm (registration required)

    This was posted at another forum. There are a ton of pricey guys out there with one year left. Nice to have a little leeway to get under the cap.

    If this is true of course.
     
  2. Seachd

    Seachd Registered User

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    I can't read the whole article, but I take it to mean renegotiation and not restructuring. For example, a player would be able to extend his contract, but not mess around with the current structure.

    That's just how I read it.
     
  3. sparr0w

    sparr0w Registered User

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    Then it would be negotiations and not REnegotiations.

    That's how I read it.
     
  4. sakicisstupid

    sakicisstupid Registered User

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    I'm with you on this one. It's great news ain't it?
     
  5. Malefic74

    Malefic74 Registered User

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    I thought I had read somewhere that they were specifically against restructuring veteran contracts (like Yashins)

    Could be wrong but that bell will not stop ringing in my ear.
     
  6. sparr0w

    sparr0w Registered User

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    If is actually in there, absolutely.
     
  7. hockeytown9321

    hockeytown9321 Registered User

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    Could be good for the Wings, huh? We could probably get another $2M in cap space from Lidstrom. I told you Khabibulin would be a Wing. :)
     
  8. bling

    bling Registered User

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    I don't know for sure about the cred of this article though. It has a picture of Chris McAllister carrying a copy of the contract and identifies him as Colorado Avalanche player...Chris was traded to New York at the deadline in 2004. (This is from a New York newspaper)
     
  9. Cloned

    Cloned Amazing Alicia

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    I take it to mean that restructuring will be allowed AFTER this initial "no-restructuring" period to get under the cap.
     
  10. HSHS

    HSHS Losing is a disease

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    I wonder if they let you renegotiate entry level contracts with one year left???
     
  11. Kill 'Em All

    Kill 'Em All Registered User

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    yeah, me too.

    if true, this would awsome.

    big market teams really deserve this clause.
     
  12. hockeyfan33

    hockeyfan33 Registered User

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    I don't understand why the owners would oppose of this, I mean another way for them to save money right?
     
  13. GSC2k2*

    GSC2k2* Guest

    This is a non-event. All it means is that if you are playing the final year of your contract, the team is not forced to let you become a free agent.

    Well, duh.

    This is not the type of cap-avoiding renegotiations to lower salaries such as what you guys are talking about.
     
  14. sparr0w

    sparr0w Registered User

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    Then why use the term renegotiation instead of negotiation? That 're' is huge. If it was a slip up by the Post, fine. If that was a slip up in the actual CBA...
     
  15. GSC2k2*

    GSC2k2* Guest

    Why use that term? Well, the answer might be that it is written by a hack writing in a newspaper. I would not give it quite the degree of scrutiny if it were written by a Skadden Arps partner.

    To me there is no difference in either event.
     
  16. sparr0w

    sparr0w Registered User

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    If the word renegotiation exists in the CBA, in that context, you can pretty much count on some team/player combo using it the way I, and others, have read it. It might be quickly edited, but renegotiation quite clearly implies an altering of what has been negotiated before.

    I'll scan the PDF as soon as it comes out. :D
     
  17. ColoradoHockeyFan

    ColoradoHockeyFan Registered User

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    I have to agree with norrisnick that the "re" is huge if it is in fact worded that way. My only concern is... will this apply to existing contracts with one year left (like a Blake, for example) this summer, or will it only apply after this initial summer has passed?
     
  18. me2

    me2 Calling out the crap

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    I don't see the problem with renegotiation. There are bound to be some clauses to prevent exploitation. What is likely to happen

    a) player renegotiates salary down. That's not a bad thing for the owners.

    b) player renegotiates salary up. It's still getting covered in the cap.

    c) player extends his deal a few years. It's all covered in the cap in the future years

    If someone like Linden decides to renegotiate his 1 year $1.5m deal into a 2 year $800K/y deal, is that a problem for the cap? I don't think so. No money is going unaccounted for.

    If a young star approaching the last year of a deal that takes him to UFA age he might offer to renegotiate for a raise and a 4 year deal. This could suit both the club and the player. Again, no money is unaccounted for.
     
  19. Seachd

    Seachd Registered User

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  20. Buffaloed

    Buffaloed webmaster

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    Has there been any confirmation of the report that the average salary over the term of the contract is going to be used to determine it's cap hit rather than the actual salary is payed in a given year? If it's average salary, extensions could really give teams some wiggle room.
     
  21. KL*

    KL* Guest

    Uh, you've never worked at a newspaper before, I take it.

    News writers, op ed writers and photo editors are all completely different positions with completely different people. Just because your photo team is a bunch of boneheads doesn't say anything about your news team.
     
  22. KL*

    KL* Guest

    I would expect someone who knows what Skadden Arps is to have a little better understanding of basic contractual terminology.
     
  23. Seachd

    Seachd Registered User

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    Good question. I haven't seen it, but if I had to guess, I'd say they would probably not be able to average the extension with the current contract, and count them separately. But I really have no idea.
     
  24. sveiglar

    sveiglar Registered User

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    I'm with Seachd here: "re"negotiating is the changing of an existing contract, either in length, value, or structure. If they have a year left, then an extension is a "renegotiation" (a change of term from the originally negotiated term). You can only "negotiate" a contract if you don't have one; ie if it has expired... which is not what they are talking about here.

    Now back to your regularly scheduled programming.
     
  25. GSC2k2*

    GSC2k2* Guest

    Pardon?
     
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