Is that what the new term is rumoured to be, Florida pays $5M in salary? I thought it was the cap space that can get traded (not paying the salary)? If it's salary, then I agree...
Yeah, if a team retains cap space in a trade it also has to retain the same proportion of the salary. It'll mainly be useful for deadline deals where the remaining salary is a pittance but the cap space is a big factor.
Yeah, if a team retains cap space in a trade it also has to retain the same proportion of the salary. It'll mainly be useful for deadline deals where the remaining salary is a pittance but the cap space is a big factor.
I could see a deal where the Canucks trade Luongo and in the last 3 years of the contract (if he still plays) they take 50% of his cap hit and salary (which is pittance).
Why? I don't think anyone is concerned about his current cap hit ($5.33M) or salary ($6.71M) but the term of his contract, if his play declines and he continues to play out the last years of his contract could be a concern for some teams. If he retires at 38 or 39, cap hit and salary are irrelevant.
This type of deal makes the length of contract moot. All of a sudden you are looking at an elite goal tender with a reasonable cap hit on what is essentially a 6 1/2 year contract.
As far as I'm aware, all of the offers over the last several months have required teams to retain both salary and cap space in a trade. Here's the language from an earlier NHL offer (emphasis mine):
Quote:
In the context of Player Trades, participating Clubs will be permitted to allocate Cap charges and related salary payment obligations between them, subject to specified parameters. Specifically, Clubs may agree to retain, for each of the remaining years of the Player's SPC, no more than the lesser of: (i) $3 million of a particular SPC's Cap charge or (ii) 50 percent of the SPC's AAV ("Retained Salary Transaction"). In any Retained Salary Transaction, salary obligations as between Clubs would be allocated on the same percentage basis as Cap charges are being allocated. So, for instance, if an assigning Club agrees to retain 30% of an SPC's Cap charge over the balance of its term, it will also retain an obligation to reimburse the acquiring Club 30% of the Player's contractual compensation in each of the remaining years of the contract. A Club may not have more than two (2) contracts as to which Cap charges have been allocated between Clubs in a Player Trade, and no more than $5 million in allocated Cap charges in the aggregate in any one season.
So if Florida agreed to retain 50% of a couple of players' cap hits in a trade with the Canucks, they'd also have to reimburse the Canucks 50% of the salary owed.
I could see a deal where the Canucks trade Luongo and in the last 3 years of the contract (if he still plays) they take 50% of his cap hit and salary (which is pittance).
Why? I don't think anyone is concerned about his current cap hit ($5.33M) or salary ($6.71M) but the term of his contract, if his play declines and he continues to play out the last years of his contract could be a concern for some teams. If he retires at 38 or 39, cap hit and salary are irrelevant.
This type of deal makes the length of contract moot. All of a sudden you are looking at an elite goal tender with a reasonable cap hit on what is essentially a 6 1/2 year contract.
Haven't been paying attention to the board much during the lock out, but glad to see hockey is back. Is there any post in this thread that may have compiled all the Luongo trade rumours out there?
Haven't been paying attention to the board much during the lock out, but glad to see hockey is back. Is there any post in this thread that may have compiled all the Luongo trade rumours out there?
Yes.
Opposition fans want to give us crap and we say NO.
edit: Apparently, you can make trades and retain salary in the new CBA. Couldn't have gone any better for Canucks.
Isn't there also a rumour of trading cap space, up to 5M?
Maybe Gillis swings Luongo to FLA and they give us an extra 5M. Load up our roster with a 75M cap? Or if the trade is done next season we can roll with a 69.3M team.
I'm proud to say that he's a Canuck right now, too!
Hope we can hang on to him as long as we can. Best goalie to ever suit up for this team, and he's not out of his prime yet.
Absolutely no disputing that. I think we can all agree that Luo changed this team for the better even before he stepped onto the ice. He gave this team credibility and made us a team other players wanted to play on... but it's time to move on.
Isn't there also a rumour of trading cap space, up to 5M?
Maybe Gillis swings Luongo to FLA and they give us an extra 5M. Load up our roster with a 75M cap? Or if the trade is done next season we can roll with a 69.3M team.
Ya, not sure of the rumor. Duthie just said you can retain salary in trades in new CBA.
Quote:
Originally Posted by timw33
This is perfect. I'd prefer not to have to retain much salary, but if it get's us the value MG want's, by all means.
Ya, should be interesting. Salary doesn't affect the available cap space, so I really don't care. If it facilitates a higher asset return, I'm ok with it. Ultimately, I'd prefer they kept Lu this yr.
Quote:
Originally Posted by Bougieman
I'm proud to say that he's a Canuck right now, too!
Hope we can hang on to him as long as we can. Best goalie to ever suit up for this team, and he's not out of his prime yet.
Ya, I'd miss him.
Bob McKenzie talking about Canucks-Tor: "Toronto interest is still there, but there is not a deal in place. It's not like this player or that player are going in exchange that player for Luongo. Although we do believe Tyler Bozak and a pick and something else would possibly go".
Also, Lu's comments: "Proud to say I'm a Canucks right now, my intention right now is to show up a training camp till I'm told otherwise".
Isn't there also a rumour of trading cap space, up to 5M?
Maybe Gillis swings Luongo to FLA and they give us an extra 5M. Load up our roster with a 75M cap? Or if the trade is done next season we can roll with a 69.3M team.
cap hit & salary are linked. They can't give us anything without eating salary. We can't send them any salary reduced player with retaining a cap hit.
eg. 4m cap hit and $5m cash player on team X is traded to team Y and X retains 50%.
X get hit with a bill for $2.5m cash and hit with 2m cap hit.
Y gets the player and it only costs them $2.5m cash and hit with 2m cap hit.
If we were to trade Luongo to Florida and retain some of that then we'd be stuck with a few million in cap hit and cash and not be better off.
Florida sending us a discount player doesn't work because they can't afford to retain the cash component. We can't keep the cap hit on any Loungo to Florida deal, and they can't keep the cash hit on anyone coming back our way. You would need a screwy set of circumstances, they would need someone with a low cap hit and high salary coming back (if they could afford it). Unlikely.
Call me crazy...but unless a deal for a bonafide top six forward comes available, I would be inclined to keep Luongo and go with the goalie rotation to keep things fresh in this abbreviated season...
