: Salary Cap:
Contracts and Salary Cap (Contract Info in Posts #1 & #2)
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06-26-2013, 07:59 AM
Join Date: Aug 2005
Location: New York, NY
The NHL on Monday moved to close a loophole left in the allegedly airtight collective bargaining agreement by notifying general managers the league would deem re-signing a player following a trade and a subsequent amnesty buyout as circumvention, and thus would not register the contract, The Post has learned.
It is believed the Lightning and Maple Leafs had discussed such a maneuver regarding Vincent Lecavalier, who has seven years and $45 million remaining on his contract, with the buyout thus worth slightly more than $30 million.
The amnesty buyout period begins Wednesday night at 11:00, and lasts through July 4, one day before the opening of this year’s free agent market.
The clubs theoretically would have concocted a swap in which Tampa Bay would have sent an asset — perhaps a draft pick — to rolling-in-dough Toronto along with Lecavalier, who would have re-signed a more modest deal with the Lightning after being bought out by the Leafs.
Thank God we had the lockout. Can't believe that part wasn't written in until now as that could have gotten ugly if a deal like TOR/TB went down.
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