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Lu's contract sucks, imagine he's a UFA

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04-04-2013, 01:20 AM
  #1
LarmerSavardSecord
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Lu's contract sucks, imagine he's a UFA

Iím sure many here saw the Luongo presser where he said ďmy contract sucksĒ to explain why he canít be moved. I also recall him saying if he could scrap it (his contract) he would (to be moved to play again as a #1)

Iím pretty sure the new CBA effectively prohibits a player from electing to kill his contract with the teamís permission without the team having to buy him out with major negative cap hit and real money ramifications. So thatís out.

But what if he and VAN could simply agree to dissolve the contract without without any penalty and he suddenly become a UFA? How much of the ~$42m heís due could he re-coup? Iím thinking $25m to start, and if he stays healthy and hungry another $10m+ in his late-autumn years.

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04-04-2013, 01:24 AM
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13elieve
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Even if Luongo and MG could mutually agree to do this, I dont think MG would. Why?

1.) He gives Luongo away for nothing
2.) It opens up an excuse with other players demanding trades, bad for NHL.

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04-04-2013, 01:36 AM
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If they buy him out, I can see him getting $5M for 3-4 years.

Maybe with Toronto, depending on what Reimer does the rest of the season + playoffs.

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04-04-2013, 01:45 AM
  #4
Lexus
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Here's the presser.


http://www.youtube.com/watch?v=GIKynOvCePs&hd=1


Quote:
Originally Posted by 13elieve View Post
Even if Luongo and MG could mutually agree to do this, I dont think MG would. Why?

1.) He gives Luongo away for nothing
2.) It opens up an excuse with other players demanding trades, bad for NHL.
I agree with this, wouldn't be good for the NHL if that happened.

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04-04-2013, 01:51 AM
  #5
LarmerSavardSecord
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Quote:
Originally Posted by 13elieve View Post
Even if Luongo and MG could mutually agree to do this, I dont think MG would. Why?

1.) He gives Luongo away for nothing
2.) It opens up an excuse with other players demanding trades, bad for NHL.
I'll just say the premise was Lu's contract has negative value (it may or may not) and the point was to guess how much would Lu command on the open market as a UFA (as he implied he would forgo the ~$42m due on his contract to be free)

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04-04-2013, 02:00 AM
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RandV
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Quote:
Originally Posted by LarmerSavardSecord View Post
I'll just say the premise was Lu's contract has negative value (it may or may not) and the point was to guess how much would Lu command on the open market as a UFA (as he implied he would forgo the ~$42m due on his contract to be free)
It may take 2 or 3 contracts but I certainly wouldn't be shocked if he could recoup all of it, if not all. Backstrom this summer and then Miller the next will make good litmus tests of what Luongo could theoretically make.

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04-04-2013, 02:08 AM
  #7
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Quote:
Originally Posted by LarmerSavardSecord View Post
I'll just say the premise was Lu's contract has negative value (it may or may not) and the point was to guess how much would Lu command on the open market as a UFA (as he implied he would forgo the ~$42m due on his contract to be free)
Personally I'd say it's more accurate to say it has limiting value. If we were to trade Schneider it would remain a good contract for Vancouver, since we run a tight cap ceiling team with money to spare and put that extra cap space to good use (difference could be between having Chris Higgins or Andrew Ebbett).

But for a team that doesn't spend to the cap however the additional risk due to term is not ideal, especially when his actual salary is above the cap hit for a number of years still. This hurts when you're already limited to the few teams who have a potential vacant goaltending position.

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04-04-2013, 02:18 AM
  #8
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The canucks mgmt is getting what they deserve they cheated the system and this is what happened. They need to be punished just too bad Lu is stuck in the middle of it. No way could he have denied that contract when presented to him.

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04-04-2013, 02:57 AM
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Quote:
Originally Posted by useless View Post
The canucks mgmt is getting what they deserve they cheated the system and this is what happened. They need to be punished just too bad Lu is stuck in the middle of it. No way could he have denied that contract when presented to him.
This.

The unfortunate thing is the cap hit isn't horrendous for a goalie of Lus quality either, I mean if he were a UFA I could see him getting similar, just on a (much) shorter contract.

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04-04-2013, 03:31 AM
  #10
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He would probably sign for 4-5 years at the same cap hit.

Canucks would also get signifigant value for him if his contract was expiring.

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04-04-2013, 03:33 AM
  #11
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Quote:
Originally Posted by serge2k View Post
He would probably sign for 4-5 years at the same cap hit.

Canucks would also get signifigant value for him if his contract was expiring.
Absolutely. It has always been the term, not the money or the quality of goaltending

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04-04-2013, 07:44 AM
  #12
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After he's bought out, I hope he considers coming to Philly.

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04-04-2013, 08:01 AM
  #13
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Quote:
Originally Posted by serge2k View Post
He would probably sign for 4-5 years at the same cap hit.

Canucks would also get signifigant value for him if his contract was expiring.
Fair enough. I think he could fetch in the area of 5 for 5. If he's choosing to scrap the contract though, he wouldn't get much for a buyout.

The term on his current deal is horrendous. I almost feel bad for him, cuz he seems like an intelligent guy and very down to Earth, but at the same time I can't feel bad because he's being paid millions to practice.

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04-04-2013, 08:08 AM
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I hope he does get bought out because Luongo doesn't deserve all this. He hates the situation and just wants to play. He was near tears at that press conference yesterday.

I hope he's bought out and signs a contract with Tampa or something for 3-5 years. A Luongo-Bishop tandem would be good for them.

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04-04-2013, 08:29 AM
  #15
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Lu is a very good goaltender. Can't help but feel kind of bad for him right now.

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04-04-2013, 09:00 AM
  #16
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Quote:
Originally Posted by Curufinwe View Post
After he's bought out, I hope he considers coming to Philly.
Oh, good God no.

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04-04-2013, 09:27 AM
  #17
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Does the CBA prohibit contract restructuring (like Tom Brady did earlier in the year)?

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04-04-2013, 09:59 AM
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Quote:
Originally Posted by useless View Post
The canucks mgmt is getting what they deserve they cheated the system and this is what happened. They need to be punished just too bad Lu is stuck in the middle of it. No way could he have denied that contract when presented to him.
I agree that the Canuck's management is going to regret this for a long time to come. However, I don't get why Luongo is somehow "stuck in the middle of it".

He, and his agent, knew this was a retirement contract when he signed it. He also should have known that unless he performed like Patrick Roy this contract is basically unmovable. They also both knew that the CBA was coming up for renewal and should have at least asked themselves "what happens if the cap goes down".

Luongo needs to perform like a goalie with a $5.3M cap hit for the next 9 years. If he can't keep the starting job in Vancouver that's not managements fault -- they are still paying him (and playing him, by the way -- he's started 16 games this season).

Luongo needs to either win the starting job back, or just accept the fact that he and his agent didn't think through any of the obvious "what ifs" that his contract presented.

When Luongo says he'd be happy to tear up his contract, does it also mean he's willing to give back the $20M or so he's already been paid for the front loaded part of his current deal?

He's not a victim here. He just lost his starting job and wants someone to fix it by giving him another one somewhere else.

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04-04-2013, 10:50 AM
  #19
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To an extent, I feel bad for the guy because he's capable of doing so much more. On the other hand, the contract wasn't forced on him. He agreed to it. Nothing stays the same for too long in the NHL, you gotta know that a huge contract like that might be a problem down the road. Also, VAN deserves to get something for him. They shouldn't be punished for getting their hands on two starters.

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04-04-2013, 11:16 AM
  #20
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Quote:
Originally Posted by LarmerSavardSecord View Post
Iím sure many here saw the Luongo presser where he said ďmy contract sucksĒ to explain why he canít be moved. I also recall him saying if he could scrap it (his contract) he would (to be moved to play again as a #1)

Iím pretty sure the new CBA effectively prohibits a player from electing to kill his contract with the teamís permission without the team having to buy him out with major negative cap hit and real money ramifications. So thatís out.

But what if he and VAN could simply agree to dissolve the contract without without any penalty and he suddenly become a UFA? How much of the ~$42m heís due could he re-coup? Iím thinking $25m to start, and if he stays healthy and hungry another $10m+ in his late-autumn years.
He doesn't even care about the money. The guy just wants to play. Im sure his agent isn't thrilled about that, but i could totally see Luongo taking a peanuts (2 mil-ish) contract just so he can play.

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04-04-2013, 12:27 PM
  #21
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Quote:
Originally Posted by DKQ View Post
Does the CBA prohibit contract restructuring (like Tom Brady did earlier in the year)?
Yes, restructuring is prohibited.

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04-04-2013, 12:39 PM
  #22
Ess_37
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I might be in the minority here, now while I do feel for Luongo given his situation and being unable to play, but that is the agreement he made with the team. Ideally, he'd have the security knowing that he'd be the #1 goalie in Vancouver for the foreseeable future and signed under that premise.

With that being said, it didn't work out that way. That is the gamble both teams took in the situation. Now, he has the security of staying in Vancouver, but in a round about way. Sometimes you make what you feel is a good decision and it doesn't work out for the parties.

What would be the feeling(s) if he was demanding more money on his contract much akin to what happens in the NFL all the time?

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04-04-2013, 12:42 PM
  #23
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Quote:
Originally Posted by Curufinwe View Post
After he's bought out, I hope he considers coming to Philly.








That's a joke right?

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04-04-2013, 12:43 PM
  #24
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has there not been recent cases where teams and a player have agreed to terminate the contract and the player was let go? I am thinking like Hovinen from Philly....the goalie. Anyone remember this?

Edit:"Hovinen was put on unconditional waivers because the team and player had come to a mutual agreement to terminate his contract"

Could this happen with Lou as well?


Last edited by Tripod: 04-04-2013 at 12:48 PM.
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04-04-2013, 12:43 PM
  #25
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Couple of funny tweets and everyone loves Lu/feels bad for him, this place used to dump on him 24/7 what a weird turn around

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