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RAM44
8/04/2009 12:50:28
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 Topic: CBA Cap Loophole
Message:
Thought this was pretty interesting. The NHL seems to finally be catching on to the most glaring loophole in the current CBA.
As it stands now, as long as a player is under 35 yrs old to start a contract, the entire cap hit is dropped the second he retires. So teams have naturally started signing players to front-loaded deals, that take the player well past the retirement age of 40. Since odds are they wont be playing... the cap hit today is much less than it should be, with no consequence when they retire.
2 big cases this offseason are Hossa and Pronger. Hossa gets a 12-yr deal worth $62.8 Mil, which would have him playing till hes 43. The catch... $59.3 mil of that is over first 8 years, and only $3.5 over the last 4. So instead of the actual $7.4 mil cap hit he SHOULD be, its only a $5.2 cap hit.
Pronger signs a similar 7-yr deal taking him to age 42. $7+ mil for most of it... $500K the last 2 years. Only problem is, Philly goofed, and since Pronger will be 35 when this contract kicks in his full cap hit will be on the books even if he retires.
Can't wait to see a 30 yr old sign a 25yr/$67.5 mil contract. $6 mil per year for 10 years... $500K the last 15 years. Cap impact - $2.7 mil per year.
I foresee a CBA wording change coming soon!
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cgysportsguy
8/04/2009 14:57:50
| RE: CBA Cap Loophole
Message:
There were bound to be a few issues with the Cap but this one is pretty glaring.
Word is that the NHL is "investigating" the Hossa deal but at the end of the day, I don't see them being able to do anything about it - other than making a "recommendation" about what to do when the CBA expires.
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cgysportsguy
8/04/2009 14:59:35
| RE: CBA Cap Loophole
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One other thing.
Does this mean that if I fly to Montreal and shatter Gomez's knees with a sledgehammer, than that albatross of a contract comes off the books?
Let me know quick - there are soem cheap flights to Montreal right around training camp....
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Stoner89
8/04/2009 20:33:54
| RE: CBA Cap Loophole
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Detroit started all this stuff with some of their signings, which were considered a brilliant piece of work by Ken Holland, but I wondered at the time that Buttman must be pulling his hair out, wondering how to get out of this pickle. I can see something changing going forward, but regarding the existing contracts, I don't think much can be done.
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RAM44
8/05/2009 09:33:14
| RE: CBA Cap Loophole
Message:
"Does this mean that if I fly to Montreal and shatter Gomez's knees with a sledgehammer, than that albatross of a contract comes off the books? "
Definitely. You can win in 2 ways here. If Gomez is forced to retire due to the severe beating, his entire cap hit will simply drop off and dissapear. OR if he decides to rehab for a few years, the entire time he is on long term injury the Habs can exceed the cap with a replacement player.
But seeing as your have just incriminated yourself with this post... i advise against it.
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cgysportsguy
8/05/2009 10:31:36
| RE: CBA Cap Loophole
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"But seeing as your have just incriminated yourself with this post... i advise against it."
Life is not worth living without a few risks....
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Stoner89
8/05/2009 10:39:46
| RE: CBA Cap Loophole
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"Life is not worth living without a few risks.."
Living in Cowtown and having to look at the beasts that masquerade as women down there must be risky enough for men living there.
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