The 5% bump is applied to the midpoint which results in a higher upper limit. The upper limit would not be $64M without the 5% bump. The midpoint plus 5% is the new midpoint. Add $8M and there is the upper limit. There is a $16M gap between the upper limit and lower limit(floor).
You must be Sather's treasurer.
Thanks for the explanation, but why is the 5% bump implemented?
This is probably why Richards wouldn't waive his NTC. He knows he'll get a bigger chunk of change if he waits for the cap to go up before signing his new deal.
doubt it. daly said months ago that the cap would be 63.5 mil so most people expected it to be in this range.
It's not really $77M. The Rangers can't use Drury's $7.05M until he is put on LTIR which isn't until the last day of training camp/day before NHL season begins. The Rangers can spend $71.05M next season which includes the $7.05M.
So what does this mean as far as signing our RFAs and perhaps Richards over the summer when we will have both Drury's and Redden's salaries counting against the cap? I know that a team can exceed it by 10%...but if Redden is essentially the 10% how can we still carry Drury and afford everyone else?
So what does this mean as far as signing our RFAs and perhaps Richards over the summer when we will have both Drury's and Redden's salaries counting against the cap? I know that a team can exceed it by 10%...but if Redden is essentially the 10% how can we still carry Drury and afford everyone else?
With Drury's cap number, we're at around $40MM for next year. Redden's cap number pushes it up to $47MM. The cap will be around $64MM, meaning a summer cap of $70MM. Now, let's figure what we have to get done.
That's $15MM additional, puts us at $62MM. Can you fit Richards with $8MM cap room? Probably, and that's with my high dollar projections for the UFA contracts. Those numbers could all be lower, giving us around $10MM or even more to work with.
Then, when the season starts, Redden's number disappears again (covering us on our 10% summer overage) and Drury likely heads to LTIR, where we can add some or all of his salary into additional signings.
There's enough money for us to re-sign all of our guys and realistically go after Richards.
With Drury's cap number, we're at around $40MM for next year. Redden's cap number pushes it up to $47MM. The cap will be around $64MM, meaning a summer cap of $70MM. Now, let's figure what we have to get done.
That's $15MM additional, puts us at $62MM. Can you fit Richards with $8MM cap room? Probably, and that's with my high dollar projections for the UFA contracts. Those numbers could all be lower, giving us around $10MM or even more to work with.
Then, when the season starts, Redden's number disappears again (covering us on our 10% summer overage) and Drury likely heads to LTIR, where we can add some or all of his salary into additional signings.
There's enough money for us to re-sign all of our guys and realistically go after Richards.
Thanks for putting it into perspective.
A concise and simple explanation of a possible way to sign Richards.
A concise and simple explanation of a possible way to sign Richards.
No problem.
What it boils down to is this: if the Rangers decide that they really want Brad Richards, they can sign him. No ifs, ands or buts. They have enough room to do it.
I'm on the fence about Richards (leaning against it), but it's important to realize there's a high probability that we try to bring him on board.
Actually, I suspect Drury's $ will be used to recall players who can be assigned to Hartford without waivers and won't count against the season opening cap until they are recalled. That's the easiest way to deal with the issue. Think MDZ, Erixon, MZA, Hagelin and VTank among others.
What it boils down to is this: if the Rangers decide that they really want Brad Richards, they can sign him. No ifs, ands or buts. They have enough room to do it.
I'm on the fence about Richards (leaning against it), but it's important to realize there's a high probability that we try to bring him on board.
I think I will love it for 3 yrs then complain for another 3 but I am steal leaning towards embracing it and taking a run at the cup soon. IF everything goes right they could make noise in the playoffs
With Drury's cap number, we're at around $40MM for next year. Redden's cap number pushes it up to $47MM. The cap will be around $64MM, meaning a summer cap of $70MM. Now, let's figure what we have to get done.
That's $15MM additional, puts us at $62MM. Can you fit Richards with $8MM cap room? Probably, and that's with my high dollar projections for the UFA contracts. Those numbers could all be lower, giving us around $10MM or even more to work with.
Then, when the season starts, Redden's number disappears again (covering us on our 10% summer overage) and Drury likely heads to LTIR, where we can add some or all of his salary into additional signings.
There's enough money for us to re-sign all of our guys and realistically go after Richards.
Thanks for the breakdown. If we can't fit Richards with 8M in cap room we shouldn't even be considering him. Personally I don't think we should go more than 7M, but at the end of the day what's a million dollars. lol Bottom line it looks like we're in pretty good shape...and we actually caught a break that we can't buy Drury out.
Actually, I suspect Drury's $ will be used to recall players who can be assigned to Hartford without waivers and won't count against the season opening cap until they are recalled. That's the easiest way to deal with the issue. Think MDZ, Erixon, MZA, Hagelin and VTank among others.
yeah i think that'll be part of the plan. part of those salaries count against the summer cap, but the remainder and guys like erixon will be added after drury goes on ltir
Thought I'd play with the cap a little to see how my theory (above) might work
Quote:
FORWARDS
Marian Gaborik ($7.500m) / Chris Drury ($7.050m) / Wojtek Wolski ($3.800m)
Sean Avery ($1.937m) / Brandon Prust ($0.800m) / Erik Christensen ($0.925m)
Derek Stepan ($0.875m) / Brad Richards ($7.375m) / Ryan Callahan ($4.000m)
Brandon Dubinsky ($4.000m) / Artem Anisimov ($1.600m) /
Ruslan Fedetenko ($1.400m) / Brian Boyle ($1.400m)
DEFENSEMEN
Marc Staal ($3.975m) / Daniel Girardi ($3.325m)
Veteran Puckmover ($4.000m) / Mike Sauer ($1.250m)
/ Matt Gilroy ($1.000m)
GOALTENDERS
Henrik Lundqvist ($6.875m) / Martin Biron ($0.875m)
CAPGEEK.COM TOTALS (follow @capgeek on Twitter)
(these totals are compiled without the bonus cushion)
SALARY CAP: $64,000,000; CAP PAYROLL: $63,962,500; BONUSES: $0
CAP SPACE (20-man roster): $37,500
Drury goes on LTIR and Rangers immediately recall McDonagh, Erixon, MDZ and MZA to take his cap place.
The real story here is that a) the Rangers can keep Wolski if they choose and b) may still have room to add a puck moving defenseman.
Summer tagging might be an issue but that could be remedied by having some players sign thewir contract on the first day camp opens (after Redden is waived)
Thought I'd play with the cap a little to see how my theory (above) might work
Drury goes on LTIR and Rangers immediately recall McDonagh, Erixon, MDZ and MZA to take his cap place.
The real story here is that a) the Rangers can keep Wolski if they choose and b) may still have room to add a puck moving defenseman.
Summer tagging might be an issue but that could be remedied by having some players sign thewir contract on the first day camp opens (after Redden is waived)
Does this look legal to everyone?
The summer cap would be a major issue. Drury cannot be put on LTIR until the END of training camp. Same goes for the waiving of Redden.
No RFA in their right mind will sign their contract until the end of training camp for insurance reasons and there play will be slower to get in the swing of things bcuz they are starting to skate with the team 2 weeks later.
Only person who could possibly sign at the end of training camp in your scenario is Feds, but Sather has stated he wants to lock him up before July 1st.
That and don't bring back Gilroy. You are also forgetting the summer cap hits for McD, MDZ, MZA, Grachev etc. Its not their full salaries, but a portion of them.
The 5% bump is implemented to increase the cap. More money spent on player salaries.
Quote:
Under the CBA, players are currently entitled to 57% of HRR. Since the salary cap is established prior to the season, a portion of each player’s paycheck is withheld in escrow each year to cover any overspending on player salaries. At the end of the year, the withheld money is then either returned to the players or kept by the league in order to meet the 57% target.
The players saw their escrow deductions decrease with each quarter of the season. In previous years,the players had some of the escrow money returned to them at the end of the season. Each playoff game played. The Canadian dollar. Vancouver played 14 home playoff games. Business was good. $3B business. The PA voted for the 5% bump. NHL TV contract with NBC starts next season.
Canucks AGM Laurence Gillman is already thinking of ways to use Mason Raymond's $2.5M cap hit on LTIR. When Raymond is ready to return,some other Canuck get hurt and placed LTIR.
I'm still having a hard time understanding how the Drury situation can help with anything other than in season acquisitions...
It also helps if the Rangers have a couple of young players make the team who were not on the team last season. Erixon's cap hit can take a bite out of Drury's. So could Thomas, or Hagelin.
I'm still having a hard time understanding how the Drury situation can help with anything other than in season acquisitions...
I think it's really more that it ends up not hurting anything this year.
They should have cap space during the summer to do most everything they want to do, and since Drury won't be returning from LTIR, during the season it's effectively like having an extra $7 mill in cap space for the year
I think it's really more that it ends up not hurting anything this year.
They should have cap space during the summer to do most everything they want to do, and since Drury won't be returning from LTIR, during the season it's effectively like having an extra $7 mill in cap space for the year
Yep, basically the extra 7 million will allow guys like Erixon and possibly Hagelin to come up at no extra cost and gives us flexibility at the deadline.
I think it's really more that it ends up not hurting anything this year.
They should have cap space during the summer to do most everything they want to do, and since Drury won't be returning from LTIR, during the season it's effectively like having an extra $7 mill in cap space for the year
What if the team had other UFA players in mind that they wanted to sign ( outside of Richards)...the Drury summer cap hit doesn't help at all.
What if the team had other UFA players in mind that they wanted to sign ( outside of Richards)...the Drury summer cap hit doesn't help at all.
correct, but best case before was that we bought him out adding 3.7m n space...we don't have that now.
but, we also dont have his cap hit 2 years from now, and i'm still hoping Sather trades him...seems like i wouldn't cost Drury anything, plus he wouldnt have to actually do anything....that would free up that much more money.
so it's not really a good thing as it stands, but it's not that bad either...it costs us a shot at cole or jokinen or somebody like that...but it doesnt cos us our RFAs or Richards.
