Luongo and the dreaded cap hit

[mll]

4 hours ago, smokes said:

Allergic reactions develope very quickly these days.

 

Tom Reid does radio broadcast for the Minnesota Wild.  He was a depth player in the 70s' who ended up pretty much broke when he had to retire due to an allergy to equipment that came out of nowhere several years into his career.  Hossa's description a few weeks ago of how things evolved sounds pretty similar to what Reid went through.  

 

The skin disorder was progressive.  It started with a small rash and then spread to all his body.  Reid talks of how he couldn't sleep on sheets because his skin would stay stuck.  

 

Hossa's condition was also progressive.  At the end he was taking 6 pills a day and had to have his blood tested every 2 weeks because there are potential life threatening effects to the medication.

 

Reid's interview here:  https://youtu.be/cTxyN9aRo3Q

 

Edited April 1, 2019 by mll

[FireGillis]

On 3/31/2019 at 10:31 AM, 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.

Henrik Zetterberg played all 82 games in his last year and then went on LTIR for the next season due to his back.  Luongo already misses a bunch of games due to injuries, unlike zetterberg, so he can easily go on LTIR due to his hips/knees.

Edited April 1, 2019 by FireGillis

[Standing_Tall#37]

On 3/26/2019 at 10:01 AM, smokes said:

Looks like the years of dread that knowing this will one day happen might happen, is there a way to circumvent this hit like other teams have done before? 2.83 cap hit for the next three years seems unfair especially when Gillis signed the contract before he knew the rules would change.

 

https://www.tsn.ca/luongo-on-future-a-bit-of-a-tough-situation-1.1279838

 

Luongo on future: 'A bit of a tough situation'

Florida Panthers general manager Dale Tallon has repeatedly stated that he will be aggressive this off-season and the team has been linked to Columbus Blue Jackets pending free agents Artemi Panarin and Sergei Bobrovsky throughout the year.

It's unclear, however, what signing Bobrovsky would mean for 39-year-old Roberto Luongo's future with the franchise.

“It’s a bit of a tough situation,” Luongo told TSN Hockey Insider Pierre LeBrun for The Athletic on Monday. “I still love to play the game. We’ll see where it goes, I haven’t really made a decision one way or another. It’s going to be important once the season is over to talk to Dale and management and coaches and see what the plans for the future are. And hopefully they involve me somewhere. I understand I’m not 30 years old anymore and I can’t take on a 50-, 60-game workload.

“But if there’s any way for me to contribute, I’d love to do that.”

Luongo, who allowed five goals on 33 shots in relief of Samuel Montembeault on Monday, has a 15-16-4 record this year with a 3.19 goals-against average and a .897 save percentage. The veteran of 1,010 career starts will turn 40 next week and carries a $4.53 million cap hit through the 2021-22 season. 

Should Luongo choose to hang up his skates this off-season, the Panthers will be left with a $1.29 million cap recapture penalty for the next three seasons, while the Vancouver Canucks, who signed Luongo to his current contract, would face a $2.84 million cap penalty for the next three years.

The Panthers, who made a total of seven trades in the month leading up to the trade deadline, are currently scheduled to have $17.5 million in cap space this off-season (if the cap stays flat at $79.5 million). In addition to Luongo, the Panthers have goaltender James Reimer signed through 2020-21 at a $3.4 million cap hit. Montembeault, who's appeared in nine games this season, will be a restricted free agent this summer.

Luongo said Monday he believes the franchise is heading in the right direction to become a contender.

“I don’t think we’re that far off, we have a good core of players," Luongo said. "We just need to surround them with the right pieces. It’s not a lot. Maybe a couple of guys. I think we’re right there. Honestly, it’s even more about guys taking that step as a group, reaching a maturity level, understanding that we need to do the right things night in and night out to be successful.”

The Panthers, who could be eliminated from playoff contention as soon as Tuesday night, have reached the postseason just once in the past seven seasons.

If he retires 2 years down the road it becomes an 8.8 million cap hit.

[canuck73_3]

19 minutes ago, Standing_Tall#37 said:

If he retires 2 years down the road it becomes an 8.8 million cap hit.

Won't be an issue at all. LTIR. 

[mll]

18 hours ago, canuck73_3 said:

Won't be an issue at all. LTIR. 

For the Panthers it's better to try and convince him to retire early.  No cap hit vs keeping his cap hit on the books and having to deal with LTIR.  He has already been paid the bulk of his contract.  The 1Ms were only tagged on to reduce the cap hit.  They can also offer Luongo a front office job that covers that 1M.

 

Edited April 2, 2019 by mll

[mll]

 

[cory40]

Brian Burke mentioned that Luongo is not going to retire and leave all that money on the table. He might however show up to training camp out of shape and not play but still get paid. So no LTI but rather not fit to play!

[Squamfan]

On 4/1/2019 at 11:59 AM, canuck73_3 said:

Won't be an issue at all. LTIR. 

but if he retires next week is will be an issue because it is not and injury  related retires.

[canuck73_3]

7 minutes ago, Squamfan said:

but if he retires next week is will be an issue because it is not and injury  related retires.

Not going to happen so it doesn't matter.

[mll]

Luongo is undecided on his future and is none too happy about the reports that his health could force him to retire.

https://www.sportsnet.ca/hockey/nhl/panthers-roberto-luongo-undecided-future-eve-40th-birthday/

 

Quote

SUNRISE, Fla. — Roberto Luongo won 227 games during his 20s. He won 262 more games during his 30s.

And now, his 40s await.

 

Florida’s veteran goalie — the oldest netminder and third-oldest player to appear in the NHL this season — will celebrate his milestone 40th birthday on Thursday. He’s tentatively scheduled to start the Panthers’ season-finale on Saturday night. Then it’ll be time for Luongo to begin his rite of spring: figuring out whether to keep playing.

 

"I don’t really want to make any decisions over the course of a season," said Luongo, who would be the 20th goalie to play an NHL game as a 40-something. "Obviously, there’s a lot of emotions involved with that and you want to make sure that you make the right decision for all parties involved. I still love to play the game, and we’ll see where it goes."

 

Luongo still has three years left on his contract and hasn’t given any indication that he’s looking at Saturday night as a farewell. He led the Panthers’ goaltender corps in starts and minutes this season — even after injuring a knee on opening night and missing a month, then being sidelined again a few weeks later with an aggravation of the same problem.

 

The Panthers missed the playoffs again. The franchise hasn’t won a post-season series since 1996. But in the room, Luongo’s voice still carries more weight than any other.

 

"He’s a future Hall of Famer," said 22-year-old Sam Montembeault — a rookie and possibly Florida’s goalie heir apparent, who grew up idolizing Luongo and now sits next to him in the locker room. "Every time I come to the rink, I’m learning from him. Before every game, he gives me advice, talks to me about the tendencies of certain players. I hope at 39 years old I can be as good as he is. I’ll take that any day."

 

Luongo’s numbers this season weren’t great: His goals-against average is 3.10, the highest of any full season in his career, and his save percentage is a career-low .900. But the Panthers were plagued by defensive issues all season, which needs consideration when looking at Luongo’s numbers. And he’s finishing the year strong, with a 4-1-0 record in his last five starts.

 

"I know he wants to finish this season off the right way," Panthers coach Bob Boughner said. "And I think, after the season, he’s going to relax and he’s going to take some time. He’s going to spend some time with his family and think about what he wants to do next year."

 

The Panthers plan to be active in free agency this summer. They’ll likely target a top goalie on July 1 and have been high on Montembeault’s potential.

Still, it would still be shocking if Florida didn’t try to convince Luongo to come back.

 

He remains a fan favourite, the veritable face of the franchise. He’s third in NHL history in wins, second all-time in saves, and has won more games with the Panthers than any two other goalies to ever don the team colours have combined. And if anyone thinks his mind is made up, Luongo turned to Twitter this week in an effort to debunk a report that health issues are soon going to usher in the end of his career.

 

"The only thing that I don’t really enjoy is when you see something that’s completely fabricated," Luongo said. "That’s the part that sometimes you’re not too happy about. But that being said, I’ve been through it many times. I handled it the best way that I could by making a joke out of it, and I’m moving on from there."

 

[wai_lai416]

The Florida Panthers doesn't owe it to Vancouver to put Loungo on LTIR, they ain't a cap team and any money saving is money saving for that poor franchise.. 

[WHL rocks]

6 minutes ago, wai_lai416 said:

The Florida Panthers doesn't owe it to Vancouver to put Loungo on LTIR, they ain't a cap team and any money saving is money saving for that poor franchise.. 

I don't think they want luongo on their roster for next 3 seasons.  LU's done. 

 

And they plan on big ticket shopping this summer.  So the cap space helps them as well. 

[wai_lai416]

1 hour ago, WHL rocks said:

I don't think they want luongo on their roster for next 3 seasons.  LU's done. 

 

And they plan on big ticket shopping this summer.  So the cap space helps them as well. 

they have 17mil in cap space for next year and if luongo retires they'll have 20mil in cap space. they don't have any notables they need to re-sign so cap space won't be an issue for Florida even if they want to go for 1 or 2 big tickets. if they are really signing bob then either Luongo will have to retire or Reimer will be traded or both. and realistically i don't think they'll end up with any of the big tickets they wanted anyways. if Luongo retires it's only a 1.28 cap hit for them compared to the almost 3 mil vancouver is facing. a more likely scenario would be for the canucks to trade for Luongo back and put him on LTIR coz i don't see Florida willing to put him on LTIR

[appleboy]

This is another reason why the Canucks have way less cap space then people think. It would be good if Loui retired this year. We would see under 3 mil for the next three years. Florida would bare part of the recapture. If he lasts 2 more years and then retires they will need to keep 8 mil free to cover it.  Thanks Gillis.  

You can't just hope that he dose not retire or is put on IR. They must plan for the worst case scenario.

 

We all new this was coming.

 

Edited April 4, 2019 by appleboy

[Provost]

21 hours ago, cory40 said:

Brian Burke mentioned that Luongo is not going to retire and leave all that money on the table. He might however show up to training camp out of shape and not play but still get paid. So no LTI but rather not fit to play!

...and there has been precedent set that Florida could terminate his contract if he did that.

[appleboy]

22 hours ago, cory40 said:

Brian Burke mentioned that Luongo is not going to retire and leave all that money on the table. He might however show up to training camp out of shape and not play but still get paid. So no LTI but rather not fit to play!

What money? One mil per year?

[Smashian Kassian]

Seems like FLA is trying to push Luongo out the door. Getting the TO media to write these pieces that Luongo might be done. I don't think Luongo wants to stop playing.

 

Don't think the Canucks will face the recapture, I'm not worried about that. I just hope the Panthers & Luongo can work something out so he can still play if he wants. 

[babych]

4 hours ago, appleboy said:

This is another reason why the Canucks have way less cap space then people think. It would be good if Loui retired this year. We would see under 3 mil for the next three years. Florida would bare part of the recapture. If he lasts 2 more years and then retires they will need to keep 8 mil free to cover it.  Thanks Gillis.  

You can't just hope that he dose not retire or is put on IR. They must plan for the worst case scenario.

 

We all new this was coming.

 

Not Gillis' fault - the contract was approved by the league PRIOR to the recapture penalty. This penalty shouldn't apply to the contract but somehow it does...

 

Regardless, it's not gonna happen. Either Luongo gets LTIR or he gets traded to a team that needs to reach the cap floor.

[appleboy]

58 minutes ago, Smashian Kassian said:

Seems like FLA is trying to push Luongo out the door. Getting the TO media to write these pieces that Luongo might be done. I don't think Luongo wants to stop playing.

 

Don't think the Canucks will face the recapture, I'm not worried about that. I just hope the Panthers & Luongo can work something out so he can still play if he wants. 

It is still something that management must plan for. They can't just stick their head in the sand. Each year it gets higher until the deal is up. If they spend to the cap and he retires then they are screwed. When they sign ufa's for six years they MUST take that deal into account. 8.8 mil for year three.

Loui only gets 850,000 per for the last two years.

Edited April 4, 2019 by appleboy

[canuck73_3]

1 hour ago, appleboy said:

It is still something that management must plan for. They can't just stick their head in the sand. Each year it gets higher until the deal is up. If they spend to the cap and he retires then they are screwed. When they sign ufa's for six years they MUST take that deal into account. 8.8 mil for year three.

Loui only gets 850,000 per for the last two years.

Meh, pretty much all the recapture penalties have been excused the Devils even got their lost draft pick back.

 

It was just posturing by the league to end these ridiculous deals. Now that they're gone the penalties have been either dropped or reduced.