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OT - Petr Sykora contract terminated

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01-27-2010, 03:23 PM
  #1
elpol
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OT - Petr Sykora contract terminated

Just heard this on Team 1040 in Vancouver. Apparently, he refused to report to the AHL upon clearing waivers, so he and the team agreed to terminate his contract and he is now considered a UFA.

I'm looking around for some kind of confirmation. The big unknown being discussed was whether or not his now old contract would still count against the Wild's cap. That answer might have intriguing possibilities attached to it.

Has anyone else heard or seen anything? Surely if this approach has any validity, one would think that it has to be part of the Oiler's toolbox when the 'dismantling' begins in earnest.

I'm going to keep looking for confirmation.

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01-27-2010, 03:25 PM
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Seedling
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Well, I guess he's free to go back to Europe now.

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01-27-2010, 03:25 PM
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alanschu
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This seems like "Loophole" type stuff.

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01-27-2010, 03:28 PM
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elpol
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Quote:
Originally Posted by alanschu View Post
This seems like "Loophole" type stuff.
Sounds like... that's why I'm asking for help in finding out details.

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01-27-2010, 03:31 PM
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Giant Moo
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Sounds like exactly the loophole we need to deal with our own cap hit anchors. Iiiiinteresting.

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01-27-2010, 03:32 PM
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Other Little Mikey
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http://www.startribune.com/blogs/827...9cP3DieyckcUsI

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The two sides have mutually agreed to terminate his contract, and once approved by the NHL in the next day or two, Sykora will immediately become an unrestricted free agent .

In essence, Sykora will be free to sign with any team before the March 3 trade deadline and the Wild will be free of the remaining $600,000 or so of Sykora’s contract and salary-cap hit.
Yeah, I don't get how they're allowed to do that either.

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01-27-2010, 03:39 PM
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That's it. Make Horcoff go to the minors and have him disagree.

Then make him agree to terminate it!! lol

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01-27-2010, 03:40 PM
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elpol
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Quote:
Originally Posted by Other Little Mikey View Post
http://www.startribune.com/blogs/827...9cP3DieyckcUsI



Yeah, I don't get how they're allowed to do that either.
what we may potentially have here is a Grand Canyon sized loophole for teams to rid themselves of bad contracts... It will be very interesting to see what the NHL says about this.

Thanks for the article link!

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01-27-2010, 03:42 PM
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LawnDemon
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Not sure how this would help the Oilers. It has to be a mutual agreement. If you were Horcoff (for example) would you "mutually agree" to walk away from 30 million dollars? I don't care if it's supposedly embarassing to play in the AHL. Hell, I honestly can't think of a single embarassing thing I wouldn't do for 30 million dollars.

This worked out because it was a 1 year deal so Sykora wasn't really walking away from all that much. None of the Oiler contracts that we want to unload set up the same way.

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01-27-2010, 03:45 PM
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I was just kidding about Horc, but you are 100% right. What player would agree to throw all that money away? Nobody. Last guy I remember throwing money away (4 million) was Naslund from the Rangers, but it was 1 year left. He retired though.

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01-27-2010, 03:45 PM
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Quote:
Originally Posted by LawnDemon View Post
Not sure how this would help the Oilers. It has to be a mutual agreement. If you were Horcoff (for example) would you "mutually agree" to walk away from 30 million dollars? I don't care if it's supposedly embarassing to play in the AHL. Hell, I honestly can't think of a single embarassing thing I wouldn't do for 30 million dollars.

This worked out because it was a 1 year deal so Sykora wasn't really walking away from all that much. None of the Oiler contracts that we want to unload set up the same way.
Khabibulin? Get the feeling he'd rather go home than play in the Minors.

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01-27-2010, 03:46 PM
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Red Deer Rebel
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Quote:
Originally Posted by LawnDemon View Post
Not sure how this would help the Oilers. It has to be a mutual agreement. If you were Horcoff (for example) would you "mutually agree" to walk away from 30 million dollars? I don't care if it's supposedly embarassing to play in the AHL. Hell, I honestly can't think of a single embarassing thing I wouldn't do for 30 million dollars.

This worked out because it was a 1 year deal so Sykora wasn't really walking away from all that much. None of the Oiler contracts that we want to unload set up the same way.
I suspect you are correct.

However, half way through next season we could "Sykora" both Staios and Moreau, assuming we can't trade them this year.

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01-27-2010, 03:46 PM
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Arpeggio
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Quote:
Originally Posted by elpol View Post
what we may potentially have here is a Grand Canyon sized loophole for teams to rid themselves of bad contracts... It will be very interesting to see what the NHL says about this.

Thanks for the article link!
Not really, the only way this works is if the player is willing to forgo the rest of his contract. Guys like Shawn Horcoff, who are never going to get another contract like the one he's in right now, probably wouldn't be willing to "mutually terminate".

Edit: I see this has already been discussed.

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01-27-2010, 03:47 PM
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ogorr
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If I recall correctly, any player refusing to report could be suspended by the team thus eliminating the salary obligations and cap hit (although not 100% on the cap hit). The player would remain property of the team and could not sign elsewhere in the same league but nothing would stop them from signing in another league.

It seems like a pretty big oversight to have a loophole that essentially terminates a contract ridding the team of its financial obligations and allowing a player to sign elsewhere in the same league.

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01-27-2010, 03:52 PM
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I posted this in the Business of Hockey hoping for an answer, but what you said makes a lot of sense. http://hfboards.com/showthread.php?t=730463

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Originally Posted by ogorr View Post
If I recall correctly, any player refusing to report could be suspended by the team thus eliminating the salary obligations and cap hit (although not 100% on the cap hit). The player would remain property of the team and could not sign elsewhere in the same league but nothing would stop them from signing in another league.

It seems like a pretty big oversight to have a loophole that essentially terminates a contract ridding the team of its financial obligations and allowing a player to sign elsewhere in the same league.

Could we do this with Horcoff to rework his deal? The original contract must be in force for it's length.

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01-27-2010, 03:52 PM
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Giant Moo
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15 posts and no one's mentioned how the Oilers should pick him up.

We're slipping, people.

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01-27-2010, 04:03 PM
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Section337
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Isn't this similar to how Jersey got Shanahan off the books?

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01-27-2010, 04:17 PM
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Originally Posted by Giant Moo View Post
15 posts and no one's mentioned how the Oilers should pick him up.

We're slipping, people.
http://hfboards.com/showthread.php?t=727024

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01-27-2010, 04:21 PM
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misfit
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Originally Posted by Giant Moo View Post
15 posts and no one's mentioned how the Oilers should pick him up.

We're slipping, people.
I'm probably more surprised that it took 7 responses before it turned into a Horcoff thread.

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01-27-2010, 04:22 PM
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BlueBelle
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I'm probably more surprised that it took 7 responses before it turned into a Horcoff thread.
There we go, that's the big shocker. I should have known better than to make him the poll of the day question...

Anyways, we don't have room for Sykora, we would likely win becasue of him too. I can't see the league closing this loophole, not many players would walk away from extravogent sums of money as other posters have pointed out.

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01-27-2010, 04:28 PM
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Giant Moo
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That was 8 days ago! This is different!

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01-27-2010, 04:41 PM
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Bergeron47
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Whats in it for Sykora? Does he think he can get more money from a better team after being sent to the minors by the 3rd worst team in the West?

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01-27-2010, 04:47 PM
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alanschu
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One thing that kind of confuses me.

Since the contract is terminated, could they then agree to a new contract? (I doubt they will in this case, but more examining hypotheticals)

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01-27-2010, 04:51 PM
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Originally Posted by Bergeron47 View Post
Whats in it for Sykora? Does he think he can get more money from a better team after being sent to the minors by the 3rd worst team in the West?
maybe minnesota couldn't find a taker for his salary?

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01-27-2010, 05:24 PM
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Bootzdawg
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Quote:
Originally Posted by LawnDemon View Post
Not sure how this would help the Oilers. It has to be a mutual agreement. If you were Horcoff (for example) would you "mutually agree" to walk away from 30 million dollars? I don't care if it's supposedly embarassing to play in the AHL. Hell, I honestly can't think of a single embarassing thing I wouldn't do for 30 million dollars.

This worked out because it was a 1 year deal so Sykora wasn't really walking away from all that much. None of the Oiler contracts that we want to unload set up the same way.
I can think of at least 2 "Acts" that no money can buy from me haha. and they both involve members of the same sex hahaha.

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