It makes me wonder if Redden can negotiate a deal with another team while still under contract with the Rangers?--if legal he'll need the Rangers permission for sure but then he breaches his contract--the Rangers release him and he signs with his new team--Rangers cap problem goes away.
FORWARDS
Marian Gaborik ($7.500m) / Brad Richards ($5.000m) / Ryan Callahan ($4.000m) Brandon Dubinsky ($4.000m) / Artem Anisimov ($2.000m) / Brian Boyle ($2.000m)
Sean Avery ($1.937m) / Mats Zuccarello-Aasen ($1.750m) / Derek Boogaard ($1.625m)
Erik Christensen ($0.925m) / Derek Stepan ($0.875m) / Brandon Prust ($0.800m)
DEFENSEMEN
Marc Staal ($3.975m) / Daniel Girardi ($3.325m)
Ryan McDonagh ($1.300m) / Wade Redden ($6.500m) Mike Sauer ($2.000m)
GOALTENDERS
Henrik Lundqvist ($6.875m) / Martin Biron ($0.875m)
Buyouts: Chris Drury ($3,716,667) / Wojtek Wolski ($466,667)
CAPGEEK.COM TOTALS (follow @capgeek on Twitter)
(these totals are compiled without the bonus cushion)
SALARY CAP: $68,220,000; CAP PAYROLL: $61,445,834; BONUSES: $1,275,000
CAP SPACE (21-man roster): $6,774,166
I'm pretty sure I didn't forget anyone. I have the salary cap as $68.22m because I'm pretty sure that's what it will be during the summer, until it comes back down to $62.2m. Wade Redden will obviously be waived again to get rid of his $6.5m cap hit. I re-signed Callahan and Dubinsky for $4m each, Anisimov, Boyle, and Sauer for $2m each, and here's the front-loaded contract I have for Richards:
Year 1: $9M
Year 2: $9M
Year 3: $8M
Year 4: $7M
Year 5: $5M
Year 6: $3M
Year 7: $2M
Year 8: $1M
Year 9: $1M
With this contract, he will have NMC (if he requests one) but only for the first 5 seasons. His cap hit will be $5m with this contract. Also we will have a good amount of cap space left over if we re-sign Fedotenko or whoever. I'm pretty sure I did this all right with no mistakes and not forgetting about anyone.
__________________
"Trust me I'm an expert, I watched 13 rangers games on NHL center Ice this year through streaming." -Starburst
Last edited by Parker McDonald: 04-30-2011 at 03:43 AM.
FORWARDS
Marian Gaborik ($7.500m) / Brad Richards ($5.000m) / Ryan Callahan ($4.000m) Brandon Dubinsky ($4.000m) / Artem Anisimov ($2.000m) / Brian Boyle ($2.000m)
Sean Avery ($1.937m) / Mats Zuccarello-Aasen ($1.750m) / Derek Boogaard ($1.625m)
Erik Christensen ($0.925m) / Derek Stepan ($0.875m) / Brandon Prust ($0.800m)
DEFENSEMEN
Marc Staal ($3.975m) / Daniel Girardi ($3.325m)
Ryan McDonagh ($1.300m) / Wade Redden ($6.500m) Mike Sauer ($2.000m)
GOALTENDERS
Henrik Lundqvist ($6.875m) / Martin Biron ($0.875m)
Buyouts: Chris Drury ($3,716,667) / Wojtek Wolski ($466,667)
CAPGEEK.COM TOTALS (follow @capgeek on Twitter)
(these totals are compiled without the bonus cushion)
SALARY CAP: $68,220,000; CAP PAYROLL: $61,445,834; BONUSES: $1,275,000
CAP SPACE (21-man roster): $6,774,166
I'm pretty sure I didn't forget anyone. I have the salary cap as $68.22m because I'm pretty sure that's what it will be during the summer, until it comes back down to $62.2m. Wade Redden will obviously be waived again to get rid of his $6.5m cap hit. I re-signed Callahan and Dubinsky for $4m each, Anisimov, Boyle, and Sauer for $2m each, and here's the front-loaded contract I have for Richards:
Year 1: $9m
Year 2: $9m
Year 3: $9m
Year 4: $9m Year 5: $5m
Year 6: $1m
Year 7: $1m
Year 8: $1m
Year 9: $1m
With this contract, we are hoping he will only play for 5 years (or more if he plays well) and have NMC (if he requests one) but only for the first 5 seasons. His cap hit will be $5m with this contract. Also we will have a good amount of cap space left over if we re-sign Fedotenko or whoever. I'm pretty sure I did this all right with no mistakes and not forgetting about anyone.
That contract for Richards would not be allowedby the NHL as it violates the new cap circumvention rules put into place last season.
I'm pretty sure they would average the highesdt grossing 4 or 5 years of the contract, so you be talking about a 8 to 9 million dollar cap hit.
That contract for Richards would not be allowedby the NHL as it violates the new cap circumvention rules put into place last season.
I'm pretty sure they would average the highesdt grossing 4 or 5 years of the contract, so you be talking about a 8 to 9 million dollar cap hit.
How is that contract illegal? It doesn't go into his 40's and the three richest seasons doesn't average over $5.75m per year with salary dropping under $1m.
Redden needs to breach the contract for the Rangers to terminate.
SPC exhibit of the Standard Player Contract. Page 252
Failing to report for training camp qualifies as a breach. Walking away from the team. Failing to report to the AHL.
As a lawyer, what I would ask myself is this (if Redden wants out, and natrually if we want to get rid of him), if the Rangers would just simply terminate Wade Redden's contract (call it a breach) -- who could challenge it? Natrually Redden could, but with a handshake agreement that's not a problem.
I mean I doubt Philly can challenge it. I doubt Bettman can challenge it (unless he thinks its circumvention or something). The PA? Certainly possible, but why would they if Redden wants out?
I very much doubt this would be a problem. I mean we can only get rid of Wade if Wade wants out. If we terminate his contract and call it a breach for neglecting our conduct rules or whatever, our termination will stands untill someone rules that it its invalid. I doubt Bettman ex officio checks if the actual facts behind the circumstances called for so to speak.
For example, if we say that Redden have breached his contract in a material way by "fail [-ing], refuse [-ing], or neglect [-ing] to obey the Club's rules governing training and conduct of Players", Bettman will check if that's a cause for termination. And if, terminate the contract. But can he conduct a investigation just like that to check if Redden actually did behave badly or whatever?
The problem we have is to get Wade Redden to say that he wants out, and that he wants out now as opposed to december or something.
That contract for Richards would not be allowedby the NHL as it violates the new cap circumvention rules put into place last season.
I'm pretty sure they would average the highesdt grossing 4 or 5 years of the contract, so you be talking about a 8 to 9 million dollar cap hit.
i think it would actually be legal, but the cap hit is calculated by the average salary till the player hits 40, rather than for the length of the contract.
i could be wrong though...rangerboy would have to clarify, but since that proposed contract doesnt take him till he hits 40, its ok. but it is illegal because of the 50% rule...cant decrease salary by more than 50% per year.
1. While players and clubs can continue to negotiate long-term contracts (five years or longer) that include contract years in a player's 40s, for purposes of salary-cap calculation the contract will effectively be cut off in the year of the contract in which the player turns 41.
This basically means that if a 33-year-old player signs an eight-year contract, the amount owed to him in the first seven years of the contract will be averaged for the purposes of salary-cap computation. Then, in Year 8 of the contract, the salary he will make for that particular season will determine his salary-cap hit for that season.
So, if Kovalchuk's contract applied to this rule, the average of what he's owed in the first 13 years would be applied to the Devils salary cap from 2010-2023 and the cap hit would be $7.15 million because he is reportedly due to make $93 million across that span. Then, per the reported terms, the cap hit would change to $3 million in 2023-24 (as Kovalchuk turns 41 in April of that season) and $4 million in 2024-25.
2. In any long-term contract that averages more than $5.75 million for the three highest-compensation seasons, the cap charge will be a minimum of $1 million for every season in which the player is 36-39 years of age. That $1 million value will then be used to determine the salary cap hit for the entire contract. If the contract takes the player into his 40s, the previous rule goes into effect.
For example, Savard's contract reportedly calls for him to make $525,000 per season in the final two years of his seven-year, $28 million deal. He will be 38 and 39 in those seasons. If his contract was subject to these new regulations, for purposes of calculating the salary cap the final two years on his deal will reflect as if he was making $1 million. That would make his reported $4 million cap hit go up to $4.14 million.
The club and player still can agree to a contract that pays a player less than $1 million when he is at those ages, but for salary-cap purposes the number applied to the team's annual average salary will be $1 million.
point 2 doesnt really matter for the previous suggestion because he isnt paid less than 1m in any year.
i think it would actually be legal, but the cap hit is calculated by the average salary till the player hits 40, rather than for the length of the contract.
i could be wrong though...rangerboy would have to clarify, but since that proposed contract doesnt take him till he hits 40, its ok. but it is illegal because of the 50% rule...cant decrease salary by more than 50% per year.
Quote:
The new rules address these objections in two ways:
First, in contracts five years or longer, the cap hit will be calculated by averaging the years up to and including the year when the player turns 40. After that, the cap hit will be the salary for that year. (The sides considered averaging the years after 40.)
Second, if a contract is five years or longer and averages $5.75 million over the three richest seasons (there was negotiation over those numbers), if a player’s salary is less than $1 million when the player is 36-40, it must count as $1 million when the cap hit is calculated.
For this contract to be illegal (i.e cap hit not equal to $5m), the three richest seasons must be greater than $5.75, which it is. And any season with a salary under $1m will be counted as $1m instead of less than $1m when it is averaged out, which wouldn't apply here, since there is no year under $1m.
****, I'll edit the contract so it won't be illegal because of the 50% rule. Done:
Year 1: $9M
Year 2: $9M
Year 3: $8M
Year 4: $7M
Year 5: $5M
Year 6: $3M
Year 7: $2M
Year 8: $1M
Year 9: $1M
Last edited by Parker McDonald: 04-30-2011 at 03:43 AM.
Your first contract is not illegal under the 50% rule. 50% refers to the lesser of 50% of the first two years of the contract. In this case that number is $4.5m. The contract can decrease by more than 50% of previous year, but cannot decrease by more than $4.5m per year.
Quote:
Basically, the difference between one year's salary and the next can be no more than 50% of the lower of the first two years' salary in that contract.
Group II's signing for the league minimum-$525,000
Weise(25 days)-$70,564
Mitchell has a 1 way contract. $725,000. The Leafs didn't qualify him last summer because he was arbitration eligible but they re-signed him later. Put him down for $525,000 one way.
Re-signing Kolarik(6 days)for $525,000. $16,935
Total-$49,158,097
$62.4M upper limit. 10% increase. $68,640,000.
$19,481,903 in space
Won't qualify Johnson and Dupont. Read Bill Ring's analysis(Whale Media Relations)on the Whale's free agents. He didn't think those two players would be qualified. Ring thinks Kolarik will be back. Schoenfeld said Mitchell will be qualified. The QO could be a 2 way. Don't think the Rangers will pay nearly $800,000 in one way contract for Mitchell.
Gotta figure the Rangers will take a cap penalty for their performance bonuses from 10-11.
Group II's signing for the league minimum-$525,000
Weise(25 days)-$70,564
Mitchell has a 1 way contract. $725,000. The Leafs didn't qualify him last summer because he was arbitration eligible but they re-signed him later. Put him down for $525,000 one way.
Re-signing Kolarik(6 days)for $525,000. $16,935
Total-$49,158,097
$62.4M upper limit. 10% increase. $68,640,000.
$19,481,903 in space
Won't qualify Johnson and Dupont. Read Bill Ring's analysis(Whale Media Relations)on the Whale's free agents. He didn't think those two players would be qualified. Ring thinks Kolarik will be back. Schoenfeld said Mitchell will be qualified. The QO could be a 2 way. Don't think the Rangers will pay nearly $800,000 in one way contract for Mitchell.
Gotta figure the Rangers will take a cap penalty for their performance bonuses from 10-11.
RB - Do you have any numbers here? I think most of Zuccarellos bonuses might be hard for him to fullfill (usually performance & playoff related), but Vinny P + the others probably made there bonuses... Would be interesting to see...
New NBC/Versus deal is slated to pay the NHL $200m per year for the next 10 years. The old deal paid the NHL $77m per year.
This won't affect the 2011-2012 cap, but will affect 2012-2013. The player's share of hockey related revenue is 55%.
200-77 = 123
123 x .55 = 67.65
67.65 / 30 = 2.255
So in addition to other factors that have driven the salary cap up each year, the cap should go up an additional $2.255m in 2012-2013.
Note: The current CBA expires on September 15, 2012 and the players don't have the option of extending the CBA this time, so the playing field may change entirely.
Quote:
Originally Posted by bobbop
You are assuming that the current cap structure will stay in place. Not so fast...probably the number one objective in the next negotiation for the owners will be reducing the cap to a percentage closer to 50.
Also, there's a good likelihood that the new TV contract is not a fixed per year amount, but rather escalates over the 10 years.
Redden had spoken of considering retirement once his full season with Connecticut ended, as it did last weekend with the Whale's six-game playoff loss to Portland. Redden's agent, Don Meehan, told Newsday in an email that he's had no discussions with his client regarding retirement; Redden has three years and $16.5-million left to collect.
Few around the league, from players to executives, expect Redden to walk away from that money, even if it means another year in the AHL.
Redden never said anything about retiring. He wants to play in the NHL. He has said it isn't about the money. Redden knows what he needs to do to play in the NHL again. It's either AHL/Europe or breaching his contract.
I'm wondering, let's say somehow (very very unlikely) someone claims Redden off waivers after we waive him after training camp, we will obviously take 1/2 the cap hit. Would we then be able to buy out the 1/2 cap hit? Or would that cap hit stay on our cap until the contract expires?
I'm wondering, let's say somehow (very very unlikely) someone claims Redden off waivers after we waive him after training camp, we will obviously take 1/2 the cap hit. Would we then be able to buy out the 1/2 cap hit? Or would that cap hit stay on our cap until the contract expires?
1/2 the cap hit is re-entry waivers. If Redden is claimed off re-entry waivers,the Rangers are responsible for 1/2 the cap hit until the contract expires. The claiming team can only initiate a buyout and the Rangers would pay 1/2. If Redden is assigned to the AHL by the claiming team,the cap hit comes off the books but they still pay him.
I'm wondering, let's say somehow (very very unlikely) someone claims Redden off waivers after we waive him after training camp, we will obviously take 1/2 the cap hit. Would we then be able to buy out the 1/2 cap hit? Or would that cap hit stay on our cap until the contract expires?
If he is claimed on waivers, the claiming team assumes the entire contract. It's only on re-entry waivers that the claiming team only assumes half the contract. To be placed on re-entry waivers, Redden must first be placed on waivers, clear waivers and then be sent down.
There is absolutely no chance that Redden will ever be placed on re-entry waivers. We would take a 3.25 mil cap hit for the next 3 years.
so when do we know if the cap goes up and how much can the Rangers go over? Factoring in Redden gets waived ASAP
I think they annouce what the cap will be either right before of after the draft. For some reason June 15th comes to mind.
Redden will count against the summer cap unless Redden walks away and the Ranger terminate his contract. Otherwise he cannot be waived until sometime during training camp.
The upper limit is always announced on the Friday of draft weekend. June 24. The NHLPA votes earlier that week on the 5% escalator. The ordinary course buyouts run from June 15-30. You can waive a player on June 30 and complete the buyout on July 1. If a team has more than 1 arbitration case,it opens up another buyout period in late July-early August which is how Vinny Prospal and Donald Brashear were bought out.
I'm sure Sather could find a taker for Drury. I just don't think Drury would be willing to be shipped off to Edmonton or Columbus.
Stipulation is the acquiring team buys Drury out. The acquiring team trades their headache for a cheaper headache or gains some type of asset. Edmonton is going to buy Souray out after he cleared re-entry waivers in February. Nobody wants him at 1/2 the price. Edmonton doesn't want him in their organization. Columbus has the same issue with Commodore who cleared re-entry waivers twice last season. Commodore and Columbus coach Scott Arniel doesn't like each other. Both Souray and Commodore are expected to be bought out by June 30. Both players finished the season in the AHL.
Souray is a cheaper buyout than Drury. Costs $3M for Souray and $3,333,333 for Drury.
