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08-15-2004, 12:20 AM
  #1
Graveytrain
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Jagr's contract

Does anyone have the exact details? Particularly how much $$ Washington is picking up and whether it's only for the upcoming season or the remainder of the deal?

Thanks

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08-15-2004, 09:57 AM
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Onion Boy
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Washington has agreed to pay 4m per year of the contract for each remaining year (4). Jagr also agreed to defer 1m per year of his contract of every subsequent year which he will collect (with interest) at the termination of his contract (should amount to 4m+).

What I am unclear on is that he has a player option for the 2008-2009 season, but I'm not sure whether or not he was asked to waive it in order to facilitate a trade to NY.

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08-15-2004, 10:01 AM
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Quote:
Originally Posted by Graveytrain
Does anyone have the exact details? Particularly how much $$ Washington is picking up and whether it's only for the upcoming season or the remainder of the deal?

Thanks





Jagr traded from Capitals to Rangers


Jan 23, 2004

WASHINGTON (AP) -- Jaromir Jagr was traded to the New York Rangers on Friday, capping more than six months of off-and-on negotiations that brought to an end a disappointing 21/2-year stay with the Washington Capitals.

Jagr was traded for forward Anson Carter, but most of the negotiations centered on how much of Jagr's $11 million-per-year contract the Capitals would continue to pay as the cost-conscious NHL heads toward a possible lockout next season.

"This trade is a good one in that it moves the largest player contract in the NHL to a team that can absorb it, and it provides us with options as we seek to improve our team," Capitals owner Ted Leonsis said.

Leonsis told WTEM radio that the Capitals would not have to pay any more of Jagr's salary this season and would pay between $4 million and $4.5 million for each of the remaining four guaranteed years of the contract. The contract, however, would not be paid during a lockout.

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08-15-2004, 10:09 AM
  #4
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Quote:
Originally Posted by sjb3599
Washington has agreed to pay 4m per year of the contract for each remaining year (4). Jagr also agreed to defer 1m per year of his contract of every subsequent year which he will collect (with interest) at the termination of his contract (should amount to 4m+).

What I am unclear on is that he has a player option for the 2008-2009 season, but I'm not sure whether or not he was asked to waive it in order to facilitate a trade to NY.
TSN has learned the Capitals are picking up approximately $20 million of the remaining $44 million on the contract after this season. Sources have told TSN Jagr has agreed to defer $1 million a year for the balance of the contract. That money is deferred with interest and guaranteed.







Before the restructuring of his contract, Jagr was scheduled to earn $11 million a year in each of the next four seasons beyond this one. There is a club option for a fifth year, also at $11 million, but there are ways the fifth year could become guaranteed to Jagr in the event of the following:

If he scores 40 goals or 90 points and his team wins the first round of the playoffs in the final year of the contract.
If he scores 80 goals or 180 points in the final two years of the contract and his team wins two rounds of the playoffs.
If he wins a major award in the final three seasons of the deal or his team wins two Stanley Cups in that time.


The deal between the Caps and Rangers was effectively agreed to yesterday, sources said, but the re-structuring of the contract had to be negotiated this morning between the Rangers and Jagr's agent. With the addition of Jagr's contract, the New York Rangers now own the highest payroll in the NHL at over $78 million this season, surpassing the Detroit Red Wings.



Now Jagr will make $10 million a year for the balance of the contract with $1 million per year deferred with interest. Of that $10 million per year, the Caps are picking up about half for the four year period.

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08-15-2004, 12:39 PM
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ChrisKreider20
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For deffering that money he has a ?partial? no trade claus....

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08-15-2004, 12:44 PM
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I think he just deffered it to get out of Washington.

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08-15-2004, 03:36 PM
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Quote:
Originally Posted by NYFAN
I think he just deffered it to get out of Washington.
No, I also saw references that Jagr agreed to defer the $1 million a year in exchange for a limited no-trade clause.

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08-15-2004, 04:18 PM
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Thanks to all for the responses... So it seems that NY owes Jagr around 6.5 mil a season for the duration, which doesn't see to outrageous...I see Jagr still being a big threat even at 36-37

If he is dealt by some chance in the future, do those terms remain the same or will his new team be responsible for the entire contract?

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08-15-2004, 04:38 PM
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Quote:
Originally Posted by Brooklyn Ranger
No, I also saw references that Jagr agreed to defer the $1 million a year in exchange for a limited no-trade clause.
If you have a link or find one please post it. I haven't found anything refering to a limited no trade clause ,but it makes sense.

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08-15-2004, 05:22 PM
  #10
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Originally Posted by NYFAN
If you have a link or find one please post it. I haven't found anything refering to a limited no trade clause ,but it makes sense.
Sorry, I don't have a link and I'm not going fishing for something back in January--especially because Jagr is untradeable to just about any team, regardless of what sort of no trade clause is in place.. Next time Fish is around ask him--he collects data on salaries for his site (outsidethegarden.com).

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08-16-2004, 09:47 AM
  #11
ChrisKreider20
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Quote:
Originally Posted by NYFAN
If you have a link or find one please post it. I haven't found anything refering to a limited no trade clause ,but it makes sense.
I heard it on TSN at the time of the trade... They may have made a mistake because I haven't seen it since.

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08-16-2004, 10:34 AM
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Quote:
Originally Posted by Brooklyn Ranger
Sorry, I don't have a link and I'm not going fishing for something back in January--especially because Jagr is untradeable to just about any team, regardless of what sort of no trade clause is in place.. Next time Fish is around ask him--he collects data on salaries for his site (outsidethegarden.com).
The story was from the New York Post who no longer have the link. But the Rangers basically gave Jagr a no-trade clause in exchange for Jagr deferring 1 million per year (I assume to 2008). Brooks also mentioned that there is some sort of buy out option that the Ranger can exercise, I believe after next season, which would put the Caps on the hook for the majority of the remainder of the contract.

The Rangers are paying 6 million per year, the Caps pay 4 million and Jagr has deferred an additional 1 million...

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08-16-2004, 10:47 AM
  #13
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Quote:
Originally Posted by Fish
The story was from the New York Post who no longer have the link. But the Rangers basically gave Jagr a no-trade clause in exchange for Jagr deferring 1 million per year (I assume to 2008). Brooks also mentioned that there is some sort of buy out option that the Ranger can exercise, I believe after next season, which would put the Caps on the hook for the majority of the remainder of the contract.

The Rangers are paying 6 million per year, the Caps pay 4 million and Jagr has deferred an additional 1 million...
If there's a cap, do we get hit with the $10 million or
is it $4 million for Washington and $6 million for us?

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08-16-2004, 11:09 AM
  #14
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Quote:
Originally Posted by klingsor
If there's a cap, do we get hit with the $10 million or
is it $4 million for Washington and $6 million for us?
Until there's a new CBA, nobody knows the answer to that question.

Quote:
Originally Posted by Graveytrain
If he is dealt by some chance in the future, do those terms remain the same or will his new team be responsible for the entire contract?
That part of the deal has not been made public but I'm guessing that if the Rangers traded Jagr, that Washington would no longer be on the hook for any salary. If Washington were to still be on the hook, then the Rangers could have traded Jagr and eaten about $3 mill in salary and probably gotten a King's ransom in return for Jagr at the trade deadline.

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08-16-2004, 01:01 PM
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Originally Posted by Chief
Until there's a new CBA, nobody knows the answer to that question.
You may not have a 100% definitive answer, but you DO have a pretty good guideline. And the answer is that in ALL other sports, the team that holds the contract is hit with the full weight of any type of cap/luxury tax hit. In no circumstance, does a players count against the cap of 2 or more teams. So it makes no difference if the Rangers are paying only $4m of Jagr's contract. It would not matter if they were paying absolutelynothing andJagr's contract was paid in full by 10 other teams. It is the team that holds the contract, the Rangers in this case, that will feel the full brunt of the $11m hit against the cap/luxury tax.

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08-16-2004, 01:26 PM
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I have a question.

They keep referring to it as a restructuring of his contract, does this mean that his actual annual salary is now 7 million a year (with a 1 mil. deferral per year) and the 20 million paid to him as a bonus by the Rangers (to be reimbursed by the Caps over 4 years)?

Otherwise, the only part that's really being restructured is the deferred portion.

Jagr at 6 million per season is digestable.

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08-16-2004, 01:34 PM
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Additionally

is as True Blue stated, the full amount of the players salary is counted against any cap number, Jagr at 10 million against a cap of even 50 million is still a very large shadow (20% to 1 player is a killer) that get's larger and larger the lower the cap number may end up being.

Man I hope they fully restructured hsi deal.

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08-16-2004, 01:39 PM
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Quote:
Originally Posted by pld459666
is as True Blue stated, the full amount of the players salary is counted against any cap number, Jagr at 10 million against a cap of even 50 million is still a very large shadow (20% to 1 player is a killer) that get's larger and larger the lower the cap number may end up being.

Man I hope they fully restructured hsi deal.
It doesn't really matter at this point, the rules for how this would be evaluated in cap terms is something that has not even be decided upon. Whether they pro-rate signing bonuses per year, what they do with monies paid by other teams and of course the deferring of money is all things that would need to be worked out if a cap was put in place.

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08-16-2004, 04:38 PM
  #19
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Many, Many Thanks Fish!!!


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Old
08-16-2004, 04:40 PM
  #20
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Originally Posted by Brooklyn Ranger
My pleasure Brook

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