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Loui Eriksson | #21 | LW/RW

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2 minutes ago, Boudrias said:

How does the NHL foot the bill of lost revenue? Many teams are contracted to the full CAP limit as it existed to pre-Covid. Now the NHL is ready to re-open with empty stands. The NHL is still a gate driven enterprise. The losses will be in $100's of millions, even billions if next year is threatened by a Covid resurgence. The cost structure is collapsing. 

I’m saying if they keep the cap level (which seems to be the talk) the salaries will be adjusted by escrow.  No further adjustments at the team level will likely be made. GM’s were able to operate under a $81.5m cap this season, they’ll have to continue to do so going forward for a few years 

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this is an unique situation. it will take the league, team owners and players agreeing on the best way for the league to have success. however that is, it can’t all be on one group. 

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Loui Eriksson

Pacific Notes: Eriksson, Reaves, Richardson

June 19, 2020 at 10:22 am CDT | by Brian La Rose 6 Comments

Near the trade deadline, the Sabres waived and sent Zach Bogosian to the AHL.  However, instead of reporting, Bogosian opted for a contract termination with an eye on resuming his NHL career and wound up in Tampa Bay shortly thereafter.  Sportsnet’s Iain MacIntyre posits that the Canucks may attempt to go down a similar path with winger Loui Eriksson Part of that ill-fated group of big free agent signings in 2016, Eriksson’s numbers went down as soon as he signed with Vancouver and had 72 points in his first three years combined after putting up 63 in Boston in his final year with them.  His output dipped even further this year to just six goals and seven assists in 49 games, hardly a good return on his $6MM price tag.  Once his upcoming $3MM signing bonus is paid, Eriksson will be owed just $5MM in salary over the final two years of the deal which might be enough to walk away from if he thinks he can land an opportunity with a bigger role elsewhere.

 

 

Found this comment very interesting.

It would involve JB eating a huge piece of humble pie but, at the end of the day, it still saves the Canucks some very valuable cap space that could be the difference between signing and losing an rfa or affording a Taffoli or Marky.

Then it comes down to how badly Loui wants to be in the NHL.

He's owed 8 mil. over the next two seasons. 

I have to believe he's fully worth 2.5 mil. per, to a cup contender looking for an effective penalty killer.

Agreeing to terminate with that goal in mind wouldn't be such a bad deal for him.

His desire to win could push him into a positive direction for both sidws.

 
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4 hours ago, komodo0921 said:

 

Loui Eriksson

Pacific Notes: Eriksson, Reaves, Richardson

June 19, 2020 at 10:22 am CDT | by Brian La Rose 6 Comments

Near the trade deadline, the Sabres waived and sent Zach Bogosian to the AHL.  However, instead of reporting, Bogosian opted for a contract termination with an eye on resuming his NHL career and wound up in Tampa Bay shortly thereafter.  Sportsnet’s Iain MacIntyre posits that the Canucks may attempt to go down a similar path with winger Loui Eriksson Part of that ill-fated group of big free agent signings in 2016, Eriksson’s numbers went down as soon as he signed with Vancouver and had 72 points in his first three years combined after putting up 63 in Boston in his final year with them.  His output dipped even further this year to just six goals and seven assists in 49 games, hardly a good return on his $6MM price tag.  Once his upcoming $3MM signing bonus is paid, Eriksson will be owed just $5MM in salary over the final two years of the deal which might be enough to walk away from if he thinks he can land an opportunity with a bigger role elsewhere.

 

 

Found this comment very interesting.

It would involve JB eating a huge piece of humble pie but, at the end of the day, it still saves the Canucks some very valuable cap space that could be the difference between signing and losing an rfa or affording a Taffoli or Marky.

Then it comes down to how badly Loui wants to be in the NHL.

He's owed 8 mil. over the next two seasons. 

I have to believe he's fully worth 2.5 mil. per, to a cup contender looking for an effective penalty killer.

Agreeing to terminate with that goal in mind wouldn't be such a bad deal for him.

His desire to win could push him into a positive direction for both sidws.

 

Two main differences between Bogosian's situation and Eriksson's that I think make it much more unlikely Eriksson does this:

1. Bogosian is 29 years old and still might have a career to save. Eriksson is 34.

2. Bogosian was a pending UFA in the final year of his contract. He was also more than halfway through the season. By opting for contract termination, he gave up probably about $2M. Eriksson terminating his contract right now would be giving up four times that at $8M. As good of a penalty killer as Eriksson is, I think at his age (almost 35 years old), he will struggle to find an NHL job for anything more than about $1.5M and even then, the NHL strongly prefers younger players, so it's possible he may be forced to try other leagues or retire.

 

Not saying it won't happen, but the two aren't perfect comparables.

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4mil signing bonus and 4mil salary, say for instance a 20% escrow is agreed and I believe the bonus is not subject to escrow. That leaves remaining income at 7.2mil and after taxes that probably lowers to roughly 4.2mil.

 

If he takes the 3m bonus this off season and retires he might walk away with 1.6mil after tax.

 

So by retiring he is probably leaving roughly 2.5mil on the table.

 

Considering his career earnings to date and the impact of COVID-19 it's not inconceivable that he may look at things and decide that it's time to retire after taking the bonus this off season.

 

Obviously these are rough figures to illustrate my point but when talking about him not retiring because he will be walking away from 8mil or 5mil after the bonus is paid is not the complete story, you need to factor in escrow and taxes before really seeing what he may be walking away from......

 

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Posted (edited)
22 hours ago, -AJ- said:

Two main differences between Bogosian's situation and Eriksson's that I think make it much more unlikely Eriksson does this:

1. Bogosian is 29 years old and still might have a career to save. Eriksson is 34.

2. Bogosian was a pending UFA in the final year of his contract. He was also more than halfway through the season. By opting for contract termination, he gave up probably about $2M. Eriksson terminating his contract right now would be giving up four times that at $8M. As good of a penalty killer as Eriksson is, I think at his age (almost 35 years old), he will struggle to find an NHL job for anything more than about $1.5M and even then, the NHL strongly prefers younger players, so it's possible he may be forced to try other leagues or retire.

 

Not saying it won't happen, but the two aren't perfect comparables.

None-the-less, it seems to be an option the Canucks may be willing to do.

It still saves them a, very important, bit of money on the cap.

Also, I remember it being talked about that a buyout may be more realistic in the last two years of his contract.

Does anyone know what the buyout would look like?

Edited by komodo0921

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1 hour ago, komodo0921 said:

None-the-less, it seems to be an option the Canucks may be willing to do.

It still saves them a, very important, bit of money on the cap.

Also, I remember it being talked about that a buyout may be more realistic in the last two years of his contract.

Does anyone know what the buyout would look like?

I don't know the exact numbers, but buyouts only work for regular pay portions of the contract, so since the majority of his contract is signing bonuses, I think a buyout saves us very little.

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Pay the 3M bonus. Retain 3 of the 5M salary owed. Trade to a team who will pay him 1M per two seasons remaining and reach the cap floor. 1M for an experienced 4th liner.

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Eriksson is due a $3m signing bonus tomorrow(July 1st) :(

 

SEASON CLAUSE CAP HIT q2.svg AAV q2.svg P. BONUSES q2.svg S. BONUSES q2.svg BASE SALARY q2.svg TOTAL SALARY q2.svg MINORS SALARY q2.svg
2016-17 NMC $6,000,000 $6,000,000 $0 $7,000,000 $1,000,000 $8,000,000 $8,000,000
2017-18 NMC $6,000,000 $6,000,000 $0 $7,000,000 $1,000,000 $8,000,000 $8,000,000
2018-19 NTC $6,000,000 $6,000,000 $0 $6,000,000 $1,000,000 $7,000,000 $7,000,000
2019-20 NTC $6,000,000 $6,000,000 $0 $4,000,000 $1,000,000 $5,000,000 $5,000,000
2020-21 Modified NTC $6,000,000 $6,000,000 $0 $3,000,000 $1,000,000 $4,000,000 $4,000,000
2021-22 Modified NTC $6,000,000 $6,000,000 $0 $1,000,000 $3,000,000 $4,000,000 $4,000,000
TOTAL   $36,000,000 $36,000,000 $0 $28,000,000 $8,000,000 $36,000,000 $36,000,000
CLAUSE DETAILS: Beginning 2020-21: Player submits a 15 team no trade list

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On 6/21/2020 at 12:01 PM, komodo0921 said:

 

Loui Eriksson

Pacific Notes: Eriksson, Reaves, Richardson

June 19, 2020 at 10:22 am CDT | by Brian La Rose 6 Comments

Near the trade deadline, the Sabres waived and sent Zach Bogosian to the AHL.  However, instead of reporting, Bogosian opted for a contract termination with an eye on resuming his NHL career and wound up in Tampa Bay shortly thereafter.  Sportsnet’s Iain MacIntyre posits that the Canucks may attempt to go down a similar path with winger Loui Eriksson Part of that ill-fated group of big free agent signings in 2016, Eriksson’s numbers went down as soon as he signed with Vancouver and had 72 points in his first three years combined after putting up 63 in Boston in his final year with them.  His output dipped even further this year to just six goals and seven assists in 49 games, hardly a good return on his $6MM price tag.  Once his upcoming $3MM signing bonus is paid, Eriksson will be owed just $5MM in salary over the final two years of the deal which might be enough to walk away from if he thinks he can land an opportunity with a bigger role elsewhere.

 

 

Found this comment very interesting.

It would involve JB eating a huge piece of humble pie but, at the end of the day, it still saves the Canucks some very valuable cap space that could be the difference between signing and losing an rfa or affording a Taffoli or Marky.

Then it comes down to how badly Loui wants to be in the NHL.

He's owed 8 mil. over the next two seasons. 

I have to believe he's fully worth 2.5 mil. per, to a cup contender looking for an effective penalty killer.

Agreeing to terminate with that goal in mind wouldn't be such a bad deal for him.

His desire to win could push him into a positive direction for both sidws.

 

One can only hope that Benning is able to get rid of the floater. 

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hopefully jim can find away to move louie but i’m sure it isn’t as easy as cdc fans think it is. imo, it isn’t about jim eating crow, but more finding a partner that can benefit from taking louie.  i must be looking at different games because i see a player whose skills are declining, not a floater. i know that at a point in my life, i lacked the ability to accomplish what i use to do. 

it is too bad that a player, when he experiences his inability to perform at a high level wouldn’t want to hold the team back. what could louie do to rectify his situation?

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14 minutes ago, smithers joe said:

hopefully jim can find away to move louie but i’m sure it isn’t as easy as cdc fans think it is. imo, it isn’t about jim eating crow, but more finding a partner that can benefit from taking louie.  i must be looking at different games because i see a player whose skills are declining, not a floater. i know that at a point in my life, i lacked the ability to accomplish what i use to do. 

it is too bad that a player, when he experiences his inability to perform at a high level wouldn’t want to hold the team back. what could louie do to rectify his situation?

I don't get why some think Benning is hanging onto LE to save face. It's like they truly believe Benning isn't trying to make this team the best it possibly can. These people clearly play too much EA sports and think it's so simple.

 

I agree that his play has dropped off and he's not simply floating. His defensive work and his ability on that stretch with Pearson and Horvat that was one of our more effective lines was true to that effort. He isn't worth his contract for sure and no teams are chomping at the bit to take him and we don't want to use assets to unload him as long as we are able to manage the cap with him and we had done so this past season.

 

People think it's so easy to just waive him and believe he will retire. He might, but what if he does report? You're only saving just over a million in cap in which you have to replace him with a player which basically negates that savings anyway (unless you go with a minimum wager and save 300k or so). Then you have the drama which the media will create or fan the flames on continuously, is that worth it? He could walk away from his contract after his bonus, but he isn't going to making that kind of money on another team given his age and play and the current market, so I don't think it's going to be that simple to remove him unless there's a compliance buyout (which sounds like it won't happen).

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1 hour ago, Mackcanuck said:

Eriksson gets his $3M signing bonus. :mad:

 

 

You make it sound like there's a choice in whether he gets paid.  It's not a performance bonus but part of his salary (if I'm wrong someone call me out).

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5 hours ago, Phil_314 said:

You make it sound like there's a choice in whether he gets paid.  It's not a performance bonus but part of his salary (if I'm wrong someone call me out).

You're correct. Furthermore, whether or not the bonus was paid out affects only the Acquillini family's funds, not our cap which is definitely our restriction. Eriksson being paid means nothing in regards to our cap situation.

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7 hours ago, Phil_314 said:

You make it sound like there's a choice in whether he gets paid.  It's not a performance bonus but part of his salary (if I'm wrong someone call me out).

Exactly how did I make it sound like that??

There was a chance that the JUly 1st date was going to be postponed 3 months in talks with the NHLPA,

giving the Canucks more time to perhaps move Louii and his boat anchor contract 

Unfortunately it was rejectedIt was rejected

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1 hour ago, Mackcanuck said:

Exactly how did I make it sound like that??

There was a chance that the JUly 1st date was going to be postponed 3 months in talks with the NHLPA,

giving the Canucks more time to perhaps move Louii and his boat anchor contract 

Unfortunately it was rejectedIt was rejected

The sooner that bonus is paid out, the sooner he could potentially be moved (more enticing for teams to pay less of his contract) or at least consider his future (5 million salary left over two years). Postponing it does nothing for us and he is getting that bonus regardless. With the market now, there may be more teams that want to artificially eat up the cap while paying less salary and now LE fits in that category of player.

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2 minutes ago, theo5789 said:

The sooner that bonus is paid out, the sooner he could potentially be moved (more enticing for teams to pay less of his contract) or at least consider his future (5 million salary left over two years). Postponing it does nothing for us and he is getting that bonus regardless. With the market now, there may be more teams that want to artificially eat up the cap while paying less salary and now LE fits in that category of player.

Why would a team want to block that much cap space though? And for 2 years when they have their own RFAs to extend.  It limits their flexibility.  Reaching the floor shouldn't be an issue for any team.

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6 minutes ago, mll said:

Why would a team want to block that much cap space though? And for 2 years when they have their own RFAs to extend.  It limits their flexibility.  Reaching the floor shouldn't be an issue for any team.

Well like I said, it's to artificially raise their cap while paying less salary. We will see how the market affects teams. I'm not saying it's a certainty that it will happen, but it's a much better possibility than before his bonus being paid out.  I was replying to a poster suggesting that he was hoping the bonus payout would be delayed to give us more time to move him, but I'm saying it's easier to potentially move him (or have him consider his future) now that the bonus is paid out.

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