London Knights said:
You could set an in season clause for rent-a-players. The cap at the start of the season/end of the season would be 49 million. But it would give you an opportunity to spend a certain amount over the cap in the middle of the year providing you get back to the proper level come the off-season. That is most likely how that would have worked.
If I understand how you are stating this right, you are permitting a team to exceed the cap, so long as they release players to get back to the cap once the season is over. If that is the case, that would violate the intent and the spirit of the salary cap, and almost certantly will not be permitted.
If you meant that a team could carry players with a combined salary over the cap for a time, so long as the actual dollars paid out by the team do not exceed the cap, that seems fine on the surface, but only so long as the penalty for exceeding the cap is prohibative. Hell, if the Leafs were able to carry a $50 million payroll during the season, ended up overpaying by the end and the fine was something like $5 million, they probably wouldnt think twice about breaking the rules.
Personally, I think if the league would conisder allowing a team to go over the actual cap for a time, and the end result was that they broke the cap rules, the penalty should be the forefiture of their playoff spot. That would very likely keep teams in line.