Luongo and the dreaded cap hit

[mll]

35 minutes ago, spook007 said:

Cheers mll...

Yes I know. That was the most disgusting way of dealing with the issue.

It was obviously their way of saying to the teams, that we know, you were smarter than us, but by circumventing the rules you were drawing an advantage. For this we will nail you. No where in real life will you be hammered for having followed the existing rules at any given time... If they did, most rich people would be behind bars...

What I still don't quite understand is, why Canucks didn't fight it harder at the time...

The league started warning teams 2 years before CBA negotiations started.  Owners and GMs were well aware that penalties were coming.  They still decided to risk it.

 

It's the owners (via the Board of Governors) that implemented that penalty.  It suggests that the majority of owners were not pleased that other teams were taking advantage of it.

 

Teams won Cups with that trick - rosters wouldn't have been the same. 

 

[Mackcanuck]

Luongo recapture is peanuts compared to Shea Weber

and that is because they had to match the Flyers offer sheet

 

 

[smokes]

17 hours ago, vannuck59 said:

Why cant he be placed on LITR and just stay on LTIR

His injury history will make it easier but who in the organization knows him well enough to ask for the favor, Edler?

[iinatcc]

I think we are a bit too paranoid on this topic. We've seen other teams weasel their way out of the recapture penalty one form of the other so I can't see why Vancouver can't do the same. 

[mikeyman109]

Like Burke said last night he,Luongo will show up and fail his physical and the problem will go away. The LTIR will take care of it

[Jester13]

9 minutes ago, mikeyman109 said:

Like Burke said last night he,Luongo will show up and fail his physical and the problem will go away. The LTIR will take care of it

Yup. Why retire when you can do exactly what you mention and collect millions of more dollars? That was a nice confirmation last night.

[mikeyman109]

3 minutes ago, Jester13 said:

Yup. Why retire when you can do exactly what you mention and collect millions of more dollars? That was a nice confirmation last night.

NHL players version of WCB

[Jester13]

1 minute ago, mikeyman109 said:

NHL players version of WCB

Lu, such a union guy 

[spliced]

Both Burke and Kypreos talked about how Luongo would fail his physical next year and ride out his contract on LTIR. I found it quite bold to make those statements considering Luongo just played and won a game earlier in the day. So Luongo is healthy today but he won't be in September of 2019...hmmm.

[SID.IS.SID.ME.IS.ME]

15 minutes ago, spliced said:

Both Burke and Kypreos talked about how Luongo would fail his physical next year and ride out his contract on LTIR. I found it quite bold to make those statements considering Luongo just played and won a game earlier in the day. So Luongo is healthy today but he won't be in September of 2019...hmmm.

There’s a fair amount of wink-wink, nudge-nudge involved in getting players onto LTIR to avoid recapture, but the league has shown that they’re willing to accept these kinds of moves from teams looking to avoid cap penalties. And in Luongo’s case, they probably don’t even need to bend the rules, as he very well could fail a physical for legitimate medical reasons. This is a player who is managing chronic issues and requires a 90 minute pregame routine just to get his body in a state where he can withstand playing a full 60 minutes in net. So it’s not going to be too tough for the doctors to give him a failing grade on his physical, especially if they are looking to fail him. And when they know the NHL has no issue being complicit making in such a determination. So it’s probably not all that bold a statement to suggest Luongo’s recapture penalties will be avoided by using the LTIR loophole.

 

It is true, however, that Luongo believes he can play out his contract, and has made it clear that his preference is to keep playing professional hockey, even in a limited role, so long as he can help a team. But I think ultimately, this decision will be taken out of the player’s hands (and Luongo, being the good soldier, will play along with the theatrics, even if he doesn’t like it). Luongo is healthy enough to play until his team decides that he’s not, and this will have little to do with his actual wellness and performance, but merely when it becomes most convenient for the team, for cap reasons.

[smokes]

1 hour ago, spliced said:

Both Burke and Kypreos talked about how Luongo would fail his physical next year and ride out his contract on LTIR. I found it quite bold to make those statements considering Luongo just played and won a game earlier in the day. So Luongo is healthy today but he won't be in September of 2019...hmmm.

A lot can happen between now and November

[philtbc829]

Luongo should just retire and try to enjoy life in Trumps favourite state....Tallon doesn't want him back....his spirit may be willing but his body says otherwise.....and maybe JB can convince LE to do the same....otherwise bury him in Utica for the remaining term of his contract 

[Westcoasting]

10 hours ago, spliced said:

Both Burke and Kypreos talked about how Luongo would fail his physical next year and ride out his contract on LTIR. I found it quite bold to make those statements considering Luongo just played and won a game earlier in the day. So Luongo is healthy today but he won't be in September of 2019...hmmm.

I heard he's developing a rash from his mask... could end his career by september i bet!

[TheRealistOptimist]

10 hours ago, spliced said:

Both Burke and Kypreos talked about how Luongo would fail his physical next year and ride out his contract on LTIR. I found it quite bold to make those statements considering Luongo just played and won a game earlier in the day. So Luongo is healthy today but he won't be in September of 2019...hmmm.

The same goes with Kesler, he’s played but it takes him forever to get ready for a game. 

 

Hossa was able to play with his “allergy” to equipment, until him and the Blackhawks decided he/they didn’t want him to play anymore. 

 

Just because you can play in an NHL game, doesn’t mean you would pass a physical. Players play through injuries all the time. 

 

This topic should be shut down now. 

 

As Burke just told everyone last night what will happen and that Van/Fla don’t have to worry about any cap recapture penalty. 

 

 

 

 

[spliced]

12 hours ago, SID.IS.SID.ME.IS.ME said:

There’s a fair amount of wink-wink, nudge-nudge involved in getting players onto LTIR to avoid recapture, but the league has shown that they’re willing to accept these kinds of moves from teams looking to avoid cap penalties. And in Luongo’s case, they probably don’t even need to bend the rules, as he very well could fail a physical for legitimate medical reasons. This is a player who is managing chronic issues and requires a 90 minute pregame routine just to get his body in a state where he can withstand playing a full 60 minutes in net. So it’s not going to be too tough for the doctors to give him a failing grade on his physical, especially if they are looking to fail him. And when they know the NHL has no issue being complicit making in such a determination. So it’s probably not all that bold a statement to suggest Luongo’s recapture penalties will be avoided by using the LTIR loophole.

 

It is true, however, that Luongo believes he can play out his contract, and has made it clear that his preference is to keep playing professional hockey, even in a limited role, so long as he can help a team. But I think ultimately, this decision will be taken out of the player’s hands (and Luongo, being the good soldier, will play along with the theatrics, even if he doesn’t like it). Luongo is healthy enough to play until his team decides that he’s not, and this will have little to do with his actual wellness and performance, but merely when it becomes most convenient for the team, for cap reasons.

There is a world of difference between conspiracy theories posted on the internet and a trustworthy source connected to the league confirming that fraudulent activity is going on.

12 hours ago, smokes said:

A lot can happen between now and November

What is the mob going to take out his legs?! lol.

[mll]

14 hours ago, SID.IS.SID.ME.IS.ME said:

There’s a fair amount of wink-wink, nudge-nudge involved in getting players onto LTIR to avoid recapture, but the league has shown that they’re willing to accept these kinds of moves from teams looking to avoid cap penalties. And in Luongo’s case, they probably don’t even need to bend the rules, as he very well could fail a physical for legitimate medical reasons. This is a player who is managing chronic issues and requires a 90 minute pregame routine just to get his body in a state where he can withstand playing a full 60 minutes in net. So it’s not going to be too tough for the doctors to give him a failing grade on his physical, especially if they are looking to fail him. And when they know the NHL has no issue being complicit making in such a determination. So it’s probably not all that bold a statement to suggest Luongo’s recapture penalties will be avoided by using the LTIR loophole.

 

It is true, however, that Luongo believes he can play out his contract, and has made it clear that his preference is to keep playing professional hockey, even in a limited role, so long as he can help a team. But I think ultimately, this decision will be taken out of the player’s hands (and Luongo, being the good soldier, will play along with the theatrics, even if he doesn’t like it). Luongo is healthy enough to play until his team decides that he’s not, and this will have little to do with his actual wellness and performance, but merely when it becomes most convenient for the team, for cap reasons.

 

It's more convenient for Florida that he retires early though.  Their recapture penalty is close to nill and there is no salary paid.  On LTIR they have to manoeuvre around his cap hit and still have to pay him a salary.

 

[canuck73_3]

12 minutes ago, mll said:

 

It's more convenient for Florida that he retires early though.  Their recapture penalty is close to nill and there is no salary paid.  On LTIR they have to manoeuvre around his cap hit and still have to pay him a salary.

 

Florida doesn't pay all of his salary insurance pays up to 80% of it. 

[smokes]

2 hours ago, spliced said:

There is a world of difference between conspiracy theories posted on the internet and a trustworthy source connected to the league confirming that fraudulent activity is going on.

What is the mob going to take out his legs?! lol.

Allergic reactions develope very quickly these days.

[SingleThorn]

3 hours ago, canuck73_3 said:

Florida doesn't pay all of his salary insurance pays up to 80% of it. 

It would be interesting to hear what the insurance companies feel about paying out these 'wink wink. nudge nudge' LTIRs ! Having spent a couple of very forgettable years in short term insurance, I know how carefully they track out going payments. Probably a bit more winking and nudging happening behind closed doors !

[mll]

5 hours ago, canuck73_3 said:

Florida doesn't pay all of his salary insurance pays up to 80% of it. 

In the summer of 2016, Florida moved Dave Bolland and prospect Lawson Crouse who was drafted 11th overall just the year before, for a conditional 2nd and 3rd round pick.   

 

The deal was motivated to get out of the Bolland contract that was eating up cap space.  Bolland was on LTIR and his contract was also insured.  It freed up his contract spot and his cap hit.

 

Bolland was insured at 80% and was just over 1M per year in cash payment with the balance being covered by the insurance company.   Luongo's remaining salary is significantly lower than Bolland's but the cap hit is close.

 

Chicago moved prospect Hinostroza to get Hossa's contract off their books.  It's not ideal to have players on LTIR for teams close to the cap.  Florida apparently wants to make a splash in free agency re Panarin/Bobrovsky.

 

For the Panthers they would probably prefer to have Luongo retire early than to have to use LTIR.  Luongo would have to give up his salary though and he might not agree to that.

 

Edited April 1, 2019 by mll