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The Situation last won the day on July 25 2010
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If Luongo voided his contract, does the team still get smacked by cap recapture?
There are no rules for how that would work as there is no way for Lu to void his contract.
Drive-By Body Pierce
I don't believe there would be cap recapture. But I think Luo would not be able to sign with another NHL team (for at least the upcoming season) and he would walk a way from about 40M.