Luongo: Light at the end of the tunnel?
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01-08-2013, 02:59 PM
Join Date: Mar 2006
Originally Posted by
What was your assessment poor/fair/good, prior to the recapture formula?
I look at it like this: His contract was illegally great prior to the new CBA. Now, it's still good, but only if you have a shrewd GM. It's dropped in value slightly because their is the re-capture formula in play. However, it's so pathetic or miniscule that it only slightly affects how you see the deal.
What var is saying is that it was a discount before. This cannot be denied. Now, they "punish" the tail end of the deal. Again, slightly. So do the teams still get the
discount for another 6 years? Yup. Does the ding at the final 3 years overrule or outweigh the discount received for twice as long a term before hand? No. So overall it just balances (and I'm being kind, it's really just a slap on the wrist) the deal.
You do know that if Luongo gets traded this year, retires with 1 year remaining, the penalty for that 1 year is ~6M right? For the Nucks sake, once traded, they hope he retires early as the 6M gets spread over X years remaining.
The longer they hold onto Luongo, they're better off cap wise [and barring his performance declining drastically] to just hang onto him till he retires.
Mike Gillis put himself in a tough position now with the new CBA rules and uncertainty of cap direction in 2 years.
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