aGENT Posted June 26, 2019 Share Posted June 26, 2019 Just now, mll said: That's correct. It's not 2M on the books but 3.3M and nothing else. Pretty sure that's all anyone ever inferred 2 Link to comment Share on other sites More sharing options...
mll Posted June 26, 2019 Share Posted June 26, 2019 Just now, Provost said: Yes, and folks are saying it nets out to around $2.2 million because we were already on the hook for $800k Is that tough math to figure out? 2.2M is the increase to give a total of 3.3M on the books for the next 3 years. Link to comment Share on other sites More sharing options...
Rick Blight Posted June 26, 2019 Share Posted June 26, 2019 27 minutes ago, DrJockitch said: The man would go through an hour and a half of rehab every day just to get on the ice. His hip is a wreck. This guy should qualify for LTIR. I imagine Canucks will file some sort of request to the league to see if they let them off. They mostly let NJ off of penalties on Kovalchuk. Don't think we will get it because, you know, The Canucks. "The Devils recently applied to the League for reconsideration and relief from a portion of the original penalty, citing primarily changes in circumstances which, in the club's view, changed the appropriateness of the sanctions initially imposed," the NHL said in a statement. "After due and thorough consideration, the League has decided that a modification of the original circumvention penalty associated with the Kovalchuk contract is warranted and, accordingly, has amended the sanctions." In September 2010, the NHL announced the Devils were being punished with a forfeiture of draft picks and US$3 million for violating Section 26.13(c) of the collective bargaining agreement that has to do with cap circumvention. New Jersey did not have any of its cap space taken away. 1 Link to comment Share on other sites More sharing options...
mll Posted June 26, 2019 Share Posted June 26, 2019 1 minute ago, aGENT said: Pretty sure that's all anyone ever inferred Fair enough. Link to comment Share on other sites More sharing options...
ChuckNORRIS4Cup Posted June 26, 2019 Share Posted June 26, 2019 The Canucks could of traded for him though couldn't they of? And then put him on LTIR and let him retire in Florida? I do respect his choice though so not mad, just asking because I believe that could of happened. Link to comment Share on other sites More sharing options...
Provost Posted June 26, 2019 Author Share Posted June 26, 2019 (edited) 3 minutes ago, mll said: 2.2M is the increase to give a total of 3.3M on the books for the next 3 years. $3.03 million apparently , but who is counting and worrying about math. You keep beating a dead horse that everyone understands.... whole actually being the only one who’s math is wrong. Edited June 26, 2019 by Provost Link to comment Share on other sites More sharing options...
Ur a Towel Posted June 26, 2019 Share Posted June 26, 2019 I think we need to all just forget this cap penalty for now and just thank Lou for the tremendous effort he put in with us every night. He took us to within one game of winning it all and was a rock for us when our team wasn't so great in front of him. Congratulate him on the great career and hope he has a wonderful retirement. The best goalie our franchise has ever had. 2 Link to comment Share on other sites More sharing options...
Mastaj Posted June 26, 2019 Share Posted June 26, 2019 2 minutes ago, Provost said: Yes, and folks are saying it nets out to around $2.2 million because we were already on the hook for $800k and you are arguing about it. Is that tough math to figure out? I laughed out loud, but yes it seems that the math and logic is being a bit lost in translation. I think people are not understanding the concept of net gain in cap hit due to the recapture, as opposed to the actual recapture number. But I get you Link to comment Share on other sites More sharing options...
mll Posted June 26, 2019 Share Posted June 26, 2019 2 minutes ago, Provost said: $3.03 million apparently , but who is counting and worrying about math. You keep beating a dead horse that everyone understands.... whole actually being the only one who’s math is wrong. Am I reading this wrong? 22 minutes ago, nuck-lifer said: 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? Link to comment Share on other sites More sharing options...
Shekky Posted June 26, 2019 Share Posted June 26, 2019 Luongo was my favorite Canucks goalie. Unfortunately that Salary recapture is brutal GMMG horrible decisions still rearing there ugly heads but its whatever now at this point. can anyone explain the recapture and why Vancouvers portion is higher then Florida's, did they frontload the Contract like they always do is that why? Good luck Strombone1 in retirment loved all the banter between you and Schneider back in those days lol. Florida's Recapture Vancouver's Recapture Link to comment Share on other sites More sharing options...
Rubik Posted June 26, 2019 Share Posted June 26, 2019 (edited) Loved this guy. Enjoy retirement. And I still hope he gets his name on the cup. Edited June 26, 2019 by Rubik 3 Link to comment Share on other sites More sharing options...
ChuckNORRIS4Cup Posted June 26, 2019 Share Posted June 26, 2019 CapFriendly already has it updated at $3.03M over the next 3 years. https://www.capfriendly.com/teams/canucks Link to comment Share on other sites More sharing options...
coryberg Posted June 26, 2019 Share Posted June 26, 2019 2 minutes ago, mll said: Am I reading this wrong? The penalty is 3.03 but the silver lining is we dont pay the 800,000 that we would've had to pay if he kept playing. So we pay 2.23 more than we would have. 4 Link to comment Share on other sites More sharing options...
VegasCanuck Posted June 26, 2019 Share Posted June 26, 2019 12 minutes ago, Alflives said: We were paying 800,000 per year already in salary retention. The cap penalty will be 3 million. That's a difference is actual dollars of 2.2 million. We aren't bringing back Hutton. We will sign a guy to take Hutton's place for 1 million. Boom! That balances with the Luongo expense. No worries. It's all good. Be Happy! Not too worried about it. As I was saying earlier in the thread, other than Boeser this season, we don't really have any other big increases until 2 years from now, and Edler will drop off the books then. Were also going to figure out how to get Eriksson off the books which will free up other cap space, depending on what we have to take back in exchange for him, and I still think you might be right, that there will be mutual agreement to just dissolve his contract, once the bonus is paid on July 1st. 2 Link to comment Share on other sites More sharing options...
coryberg Posted June 26, 2019 Share Posted June 26, 2019 4 minutes ago, Shekky said: can anyone explain the recapture and why Vancouvers portion is higher then Florida's, did they frontload the Contract like they always do is that why? Link to comment Share on other sites More sharing options...
thundernuts Posted June 26, 2019 Share Posted June 26, 2019 2 minutes ago, Shekky said: Luongo was my favorite Canucks goalie. Unfortunately that Salary recapture is brutal GMMG horrible decisions still rearing there ugly heads but its whatever now at this point. can anyone explain the recapture and why Vancouvers portion is higher then Florida's, did they frontload the Contract like they always do is that why? Good luck Strombone1 in retirment loved all the banter between you and Schneider back in those days lol. Florida's Recapture Vancouver's Recapture Actually, GMMG signed Luongo to a perfectly legal contract. It wasn't until the next CBA that the owners and the league decided to retroactively punish teams for these contracts, a move that screams Bush league. Nashville and Shea Weber are in the same boat should he retire. If you're going to blame anyone for this, blame Bettman, and all the owner's that voted unanimously to pass this through (including the Aquilini's). 2 Link to comment Share on other sites More sharing options...
mll Posted June 26, 2019 Share Posted June 26, 2019 Just now, coryberg said: The penalty is 3.03 but the silver lining is we dont pay the 800,000 that we would've had to pay if he kept playing. So we pay 2.23 more than we would have. I understand that. I did those calcs in an earlier thread before he announced his retirement. Link to comment Share on other sites More sharing options...
McBackup Posted June 26, 2019 Share Posted June 26, 2019 (edited) It’s absolute bull$&!# if the league allows the recapture penalty to stand after all the Mickey Mouse antics they’ve let other clubs off the hook for. If this doesn’t get rescinded I will genuinely send a strongly worded letter to the league, though I’m sure it would be futile. Edited June 26, 2019 by Bitter Melon 2 1 Link to comment Share on other sites More sharing options...
Alflives Posted June 26, 2019 Share Posted June 26, 2019 3 minutes ago, ChuckNORRIS4Cup said: CapFriendly already has it updated at $3.03M over the next 3 years. https://www.capfriendly.com/teams/canucks Less the 800 k we were already paying him, so a net of 2.2. However we do open up another salary retention on a trade. It's not so bad. Link to comment Share on other sites More sharing options...
VegasCanuck Posted June 26, 2019 Share Posted June 26, 2019 Just now, Bitter Melon said: It’s absolute bull$&!# if the league allows the recapture penalty to stand after all the Mickey Mouse antics they’ve allowed other clubs off the hook for. If this doesn’t get rescinded I will genuinely send a strongly worded letter to the league, though I’m sure it would be futile. Worst case, we are out about 2.25 million in cap space for the next 3 years, net of retained salary. Slightly annoying, but not the end of the world. We currently have more than 15 million in space, even with this. We won't have an issue. Link to comment Share on other sites More sharing options...
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