Vancouver offered Luongo for Scrivens + two 2nd rounders.
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04-04-2013, 01:31 PM
Join Date: Feb 2002
Location: Chicago, IL
Just to put this out there - I'm a Hawks fan, and HATE the Canucks.
I think the contract issue is overblown. After this year, Luongo's got:
5 years @ $6.7M - Age: 39
1 year @ $3.4M - Age: 40
1 year @ $1.7M - Age: 41
2 years @ $1M - Age: 43
If Luongo retires @ age 40, as I understand it, the teams that picks him up would basically have to eat a cap penalty around $7M over the next 4 years ($6.7M - $5.3M cap hit = $1.4M x 5 years = $7M). If Luongo played one the year $3.4M, the cap penalty would be down to $5M over 3 years. In either case - not a crippling penalty.
That being the case - is Luongo worth the $6.7M (using cash because with new penalty, the cash = the cap hit long term if the player retires) over the next 5 years? IMO, I think that number might be a little high, but not so much that he has NO value based on the contract. If Hossa or Kovalchuk was made available, I think there would be a ton of demand for those guys, even though they have similar contracts. Which brings me back to this is really a goaltending issue.
Goalies historically don't have a ton of value, and there is typically a pretty limited market. I think that the underlying issue is that Gillis doubled down thinking that someone would buckle. Well, no one did, and that might have a $25M mistake if the Canucks have to buy out Luongo.
Also, just for career advice for everyone else on the board, be careful about burning bridges. Gillis was counting on a guy who (from what is said in this thread) he publically ripped on in the past, and now he was counting on that person doing him a favor. Well, guess what, that fell through and Gillis is in a rough spot IMO.
Last edited by Beukeboom Fan: 04-04-2013 at
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