Ok, I finally looked at the CBA and in my view the Preds can buy him out, no question. His SPC has a provision (Section 13) for "Ordinary Course" buyouts and sets the timing for such buyouts. We fit one category of the timing based on having Club or Player elected salary arbitration filings that have now settled/awarded.
The confusion comes from another (inapplicable) section (CBA 11.18) that allows Ordinary Course buyouts OUTSIDE OF THE REGULAR PERIOD in certain limited instances. We don't fit that exception but it doesn't matter- this is an Ordinary Course Buyout within the usual period. Any and all language in 11.18 is inapplicable, including the confusing language cited elsewhere.
I'm sure this has been covered elsewhere (I think 101's point earlier or maybe a blog) but it makes for good reading.
Hillen signing makes up for Lebda buyout savings and provides Bouillon insurance...
Brings back a question. The cap hit for a buyout spreads over twice the seasons but it was said elsewhere that the cash is paid in a lump sum. Can anyone confirm or refute this?
Brings back a question. The cap hit for a buyout spreads over twice the seasons but it was said elsewhere that the cash is paid in a lump sum. Can anyone confirm or refute this?
Cash is paid out in lump sum. Cap hit spread over twice the length of the deal.
Brings back a question. The cap hit for a buyout spreads over twice the seasons but it was said elsewhere that the cash is paid in a lump sum. Can anyone confirm or refute this?
Gonna have to disagree with SLake on this one. I'm almost positive buyouts are paid out the same as any other contract. Lump sums were part of the old CBA and not included in the current one. A player can use a 3rd party agency to receive a lump sum, but for our end, it is paid out like any other player. I asked one of the CBA experts on this board a little while and I'm pretty sure that's what he said. Let me see if I can find the quote...
Gonna have to disagree with SLake on this one. I'm almost positive buyouts are paid out the same as any other contract. Lump sums were part of the old CBA and not included in the current one. A player can use a 3rd party agency to receive a lump sum, but for our end, it is paid out like any other player. I asked one of the CBA experts on this board a little while and I'm pretty sure that's what he said. Let me see if I can find the quote...
The buyout payments are paid in equal semi-monthly (just like NHL salary) installments over the buyout period (2x the remaining term of the contract).
Under the old pre-lockout CBA, a player had the option of a lump sum settlement from their team with a NPV based on the prime rate. That option no longer exists - however the player can get a lump sum advance through a 3rd party settlement.
So assuming this counts towards our payroll, we have $1.8M in dead salary with Dumont and Lebda on the dreaded 2012-2013 roster.
If the Club elects to terminate this SPC pursuant to this Paragraph 13, it shall be obligated to pay to the Player, in equal semi-monthly installments, to be paid in accordance with the payroll payment schedule applicable to the Club's Active Roster, over twice the remaining term of the SPC (the "Buy-Out Period")
Lol he's a pylon buy the guy out and sign a few fans out of the stands to EL contracts ...that would be better than having his ass on your team ...he's the biggest floater ever all he can do is skate reasonably quick lol
Never a doubt after looking at the CBA- not sure how people got sidetracked on an inapplicable provision. Poile was taking flak in the media for "screwing up this too" as if it was ruled that he messed up the RFA thing (prices he paid to re-sign suggested he did not) and then got this wrong, too (which he did not). Anyway, good result.
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