Luongo announces his retirement
- Thread starter herman
- Start date
Genuinely surprised that he would do this with 3 years left on his contract instead of just LTIR'ing it like others have. If Hossa can get away with it because of a rash then Lu's hip problems definitely would have passed the smell test in that regard.
Now I guess we wait and see if the NHL actually sticks to their guns about the recapture penalty (and what exactly it will come out to be as some people have said the reported numbers out there aren't 100% accurate).
Now I guess we wait and see if the NHL actually sticks to their guns about the recapture penalty (and what exactly it will come out to be as some people have said the reported numbers out there aren't 100% accurate).
bustaheims
Active member
Will be interesting to see if he actually files his retirement papers, or if he decides to let to Canucks off the hook, and pulls a Hossa and goes LTIR for the rest of his deal.-
bustaheims said:
https://www.nhl.com/panthers/news/luongos-open-letter-to-the-fans/c-308071408
I really don't think there's any turning away from the retirement option now.
https://twitter.com/frank_seravalli/status/1143946867467804673
This is something that I didn't actually consider I guess. As we've learned LTIR isn't an absolute perfect solution for many teams, especially cap teams, so this makes sense. Vancouver is the team that gets screwed more and obviously Florida doesn't care about their concerns.
This is something that I didn't actually consider I guess. As we've learned LTIR isn't an absolute perfect solution for many teams, especially cap teams, so this makes sense. Vancouver is the team that gets screwed more and obviously Florida doesn't care about their concerns.
Nik the Trik said:
It wasn't so much the money issue (although forfeiting over $3mil is never easy I'd imagine) but that I didn't think Luongo would want to put his team on the hook for the cap recapture penalty. But like I posted above it sounds like he had Florida's blessing.
Zee
Active member
Hey hey, Canucks hit with $3.8M for 3 years for Luongo. 800k in retained salary and just over $3M for the cap recapture. Me like!
https://www.capfriendly.com/teams/canucks
Edit: looks like they updated it now and it's only recapture..I guess it wipes out the retained salary. They originally had both:
https://www.capfriendly.com/teams/canucks
Edit: looks like they updated it now and it's only recapture..I guess it wipes out the retained salary. They originally had both:
Deebo said:
I so badly want to see one of these mega cap recapture penalties to happen one day, just to see how a team will respond/if they'll try to fight it. I know Weber's is REALLY bad for Nashville, especially if he retires with only 1 year left on his contract. Would he really care about their cap situation considering they traded him away?
Great goalie, glad he's got that Olympic gold in his back pocket so no one can say he didn't win anything. Wonderful guy, remembering when addressed Florida shooting victims in such an articulate way.
Was this recapture rule put in place before or after he signed the contract?
Was this recapture rule put in place before or after he signed the contract?
Guilt Trip
Active member
My understanding is after which is really stupid when you thing about it. Contract was signed in good faith and under the rules. NHL introduces new rules in cba after, that effect contracts signed under old cba.cabber24 said:
Guilt Trip said:
The contracts were legal at the time but I'd have a hard time saying they were signed in good faith. It's no coincidence that virtually all of them have essentially ended exactly at the time the tacked on cheap years kicked in. It was a form of cap circumvention that the league foolishly didn't see coming. I do agree that penalizing teams after the fact is dumb though.
Kin
New member
CarltonTheBear said:
They were signed in good faith between the players and the teams. Doing things that live up to the letter of a CBA but are designed to give your team an advantage is basically just modern pro sports GM'ing. There was really nothing "bad faith" about those deals that couldn't be said of the recent signing bonus boom.
Nik the Trik said:
I don't really think excessive signing bonuses are comparable to adding multiple years to a contract that neither the team nor the player really intended to have played out.