Thread: News Article: New CBA will mix things up
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01-08-2013, 09:50 AM
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Originally Posted by Ozymandias View Post
Yeah, but we'd also have to pay cap penalties if he retires (not for health reasons) before the end of his contract. TB would be paying the biggest cap load on those remaining retirement years, but Habs would also be penalized. By how much, we can't really tell unless we know how many years will be left on the contract when he does retire.

From the article :
" If Luongo were to play the next seven years of his deal in Toronto before retiring, the Leafs would be paying him $43.666 million in salary but only counting $37.31 million against the cap over those seven years, a cap savings of $6.356 million. So if Luongo retires with three years left on his deal (because his salary falls to $1.618 million in the 10th year and then $1 million in the last two years of the deal), the Leafs would get charged that $6.356 million on their cap spread evenly over the remaining three years of his deal. "
I'm pretty sure zzoo meant Tampa buying him out first... could be wrong though. Could make more sense for them to trade him for and take on half his salary... They're basically equivalent options in my mind for them: buy out costs more money, but the trade costs cap space (and some money) for a while.

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