: On the Radio:
What??? Luongo to Columbus??? Say it ain't so!!! (Rumor)
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01-26-2013, 11:58 AM
Join Date: Sep 2011
Originally Posted by
and make a loss look like a closer game(instead of 4-0, maybe it's 2-0, etc). I think the team needs to address it's scoring first imo. If we had any scoring ability, I wouldn't mind Luongo(which is funny because I hated him in Florida and hated him even more on the Canucks).
Also, in the new CBA, can you eat part of the contract?
Was this rumoured confirmed by anyone? As in, did anyone else also hear this on the radio.
Short answer Yes
Long: see below
In the context of Player Trades, participating Clubs will be permitted to allocate the AA and related Salary and Bonus payment obligations between them, subject to specified parameters (“Retained Salary Transaction”). Specifically, the Club trading a Player may agree to retain a percentage of the SPC’s AA and related Salary and Bonus obligations for each of the remaining years of the Player’s SPC, up to 50% of the SPC’s AA. In each Retained Salary Transaction, the percentage allocation of the retained AA and retained Salary and Bonuses must be the same (i.e., the Salary and Bonus obligations as between Clubs would be allocated on the same percentage basis as the AA being allocated) and cannot be altered from year to year. So, for instance, if an assigning Club agrees to retain 30% of an SPC’s AA over the balance of its term, it will also retain an obligation to reimburse the acquiring Club 30% of the Player’s contractual compensation (Salary and Bonuses) in each of the remaining years of the contract. A Club may have up to a maximum of three (3) SPCs on its Cap per League Year as to which a portion of the AA and Salary have been retained in a Player
Trade, provided, however, that the aggregate amount of AA retained by a Club does not exceed 15% of the Upper Limit (e.g., 15% of $70.2 million or $10.53 million in Year 1; 15% of $64.3 million or $9.645 million in Year 2; or $12 million if the Upper Limit equals $80.0 million) in the aggregate for all such contracts in any one year. An SPC can be subject to a Retained Salary Transaction up to a maximum of two (2) times.
The NHL shall promptly disclose the amount of Retained Salary and Bonus obligations in every Retained Salary Transaction to the NHLPA.
In the case of one or more Retained Salary Transactions, and a subsequent SPC “buy-out” or termination such that the SPC is no longer in force, the resulting cash and cap consequences will be divided as between the Club parties to the prior transaction(s) on the same basis they originally agreed upon. In the case of one or more Retained Salary Transactions, and a subsequent Loan of the SPC, the prior Club(s) shall retain their portion of the SPC’s NHL cap charge that they agreed to retain for the balance of the Player’s contract (regardless of whether the Player is ever recalled), but will get the benefit of any reduced cash obligations to the Player during the time he is playing outside the League.
The Player shall be paid by the Club for which he currently plays (or most recently played for).
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