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[Official] Luongo Retires

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5 minutes ago, FireGillis said:

Damn. I really thought he would go on LTIR like everyone else, but I guess the key difference was everyone else was still on their original team, while Luongo is no longer a Canuck, so he would feel less bad about hitting us with that recapture.  The good news is it's only for 3m for 3 years and not the dreaded 8m it could have been later.  We can handle that caphit without much problem for 3 years.

And it’s more like 2.1/2.2 as we are paying 8-900k right now 

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8 minutes ago, VegasCanuck said:

That would really suck for Nashville, considering that the only reason that contract got structured that was was due to matching an offer sheet from the Flyers.

 

They or the league will give them an out.  Canucks get any breaks?  Not a chance.

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Congratz to Lu on a brilliant career. Don't mind this news as much as I used to anticipate. With the #riggeddeckleague, we've all become USED to two rulebooks.

 

So now we can retain salary on 3 contracts, if it's required.

 

Hopefully OTT wants Loui the blob.

 

Better now to sign Hutton much cheaper(if that's in the cards), than having qualified him.

 

This young team of ours will be fine, spending almost 97% of the cap up to 2022. F*** it..got bigger probs in this crazy world.

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Looks like I was right, that if Luongo was still a Canuck he would go on LTIR, but his loyalty is to Florida now and they preferred he retired. It is so canucks luck though to be the first team to be hit with the recapture penalty. Not counting the kings because that was self inflicted.

 

https://twitter.com/frank_seravalli/status/1143946867467804673

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 LTIR LTIR! LTIR!

 

Jokes aside, but man what an amazing career Luongo. One of my favourite canucks of all time. Happy retirement. 

 

Best goaltender in Canucks history without a doubt.

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6 minutes ago, Virtanen#18 said:

I hope this cap hit doesn't mean we'll be stuck with Biega and Goldobin....  please just no!!! This offseason is supposed to bring us upgrades to both ends of the ice.... last summer JB was stupid enough to waste $ on Beagle and Schaller....

lol

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1 minute ago, StealthNuck said:

100%. The Canucks need to fight this tooth and nail.

650 reporting the penalty includes the 800,000 we retained on Loui's salary.  So it's not that bad, when that is factored in.  It's about a difference of 2 million, and we have another open spot retain salary on player, if we need to retain on a trade.  

All things considered, this stuff now if well worth having all those years with Loui on our team.  

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Man, this is hitting me in the feels. Best goaltender we've ever had. Dude brought us stability and the best hockey we've ever seen as Canucks fans. All the best Lu. You'll forever be a Canuck, and one of my favourite players. Luuuuuuuuuuuu 

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Even "if" we had to eat 3 million for the next 3 years, we're not really in a position until year 3, that we have any really big increases on Salary. We have Boeser this year and we have lots of space to do that, and we don't have to do Pettersson and Hughes until the 3rd year, which is when the cap correction for Escrow with the players is supposed to end and the league will be signing a really good new TV deal. Next summer, hearing about 2 million increase again and then big one in the 3rd year when they get that big revenue spike from Seattle and TV.

 

I still think that the Canucks can and will appeal this, but worst case, we aren't expecting to be a cap team for at least 2 years anyway.

 

Much happier that he's doing it this summer instead of next.

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Congrats to Lou on an outstanding Career!

Lots of ups and downs but taking us to the cup final  was the icing..

 

The recapture rule looks like 

3033.206 for 3 years less the 800K retained = 2233.206 for each 3 years

 

is this correct or do we still get nailed with 800K as well?

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