Erik Gustafsson, Brayden Schenn and Harry Zolnierczyk to Phantoms
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10-04-2011, 02:47 PM
A Fistful of Dollars
Join Date: Jan 2004
Sources say Philadelphia Flyers forward Brayden Schenn has been informed he will be temporarily assigned to the AHL and the motivation behind this move is 100% cap specific.
Schenn's contract, negotiated by the Los Angeles Kings will pay him $900,000 this year, plus $850,000 in entry level 'A' bonuses for a total of $1.75 million, however Schenn has substantial 'B' bonuses included in his deal that would be very cap unfriendly to the Flyers.
The 'B' bonuses in the first two years of his contract pay Schenn $1.265 million and $1.405 million if he plays 25 minutes in each of the 82 regular season games.
These are unlikely, if not impossible bonuses to achieve, although Philadelphia isn't willing to take the chance and face the possibility of having to absorb a cap hit of just over $3 million, so to cut the cap hit to a reasonable $1.75 million for this season, Schenn will be assigned to the Philadelphia Phantoms for at least one game, therefore nullifying the 'B' bonus clause this season.
In the third year of Schenn's contract, he doesn't have to play the 25 minutes in all regular season games to earn a handsome $1.5 million dollar bonus, but to qualify he would have to have an All-Star season, finish among the league's point leaders and win a major award.
General manager Paul Holmgren said he was not trying to be “cryptic,” but the messages sent from the Flyers to the rest of the NHL on Tuesday were muddled.
Curiously, on the day that Brayden Schenn had his locker moved from the Phantoms’ locker room down the hall to the Flyers’ big boy room, the Flyers “loaned” their prized prospect to the AHL.
We say “loaned” in quotations because he may not actually be traveling far.
In fact, Schenn may still end up flying to Boston with the Flyers.
It all has to do with the cap. By not skating in Thursday’s opener against the Bruins, the Flyers will save themselves a ton of money on the cap - and make Schenn’s seemingly large $3.11 million cap hit turn into a much more manageable $1.75 million cap hit, according to TSN’s Darren Dreger.
Schenn would have qualified for a $1.405 million bonus payout - which counts against the salary cap - if he played in all 82 games with the Flyers this season.
Thus, by spending Thursday on the the AHL roster, Schenn would immediately save the Flyers that money off the top of the cap. That bonus clause reportedly only applies to the 2011-12 season on his contract.
Even though Schenn played just 4 preseason games with the Flyers because of a shoulder injury, Holmgren said they had enough of a look at him to know where he stands in the lineup.
“He’s healthy now, he’s ready to play and take part in things,” Holmgren said. “I think we all have a good handle on what he can do. I don’t know if this is going to be short-term or long-term with Brayden.”
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