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Weird Question ... Cancelling a Contract

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Rocket-68

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I have noticed that periodically a team and a player cancel a contract by mutual agreement. There generally is an underlying reason to do so such as "I need to go back home and take care of my ailing babushka so can't play in the NHL anymore." 

 

My question is could JT Miller and the Canucks agree to cancel the large contract that kicks in after this season is over because they just "want to"? Yes, I know that JT Miller probably would never want to do this as he made bank on said contract.

 

I suspect there are CBA clauses that govern these situations never mind how the NHLPA would view this and NHL head office (i.e., Bettman).

 

Hey, have to think outside the box sometimes. 

Flame away!

Edited by Rocket-68
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  • Rocket-68 changed the title to Weird Question ... Cancelling a Contract
17 minutes ago, Rocket-68 said:

I have noticed that periodically a team and a player cancel a contract by mutual agreement. There generally is an underlying reason to do so such as "I need to go back home and take care of my ailing babushka so can't play in the NHL anymore." 

 

My question is could JT Miller and the Canucks agree to cancel the large contract that kicks in after this season is over because they just "want to"? Yes, I know that JT Miller probably would never want to do this as he made bank on said contract.

 

I suspect there are CBA clauses that govern these situations never mind how the NHLPA would view this and NHL head office (i.e., Bettman).

 

Hey, have to think outside the box sometimes. 

Flame away!

Usually happens with guys who are leaving the NHL for Europe. It can be done, but would YOU walk away from a guaranteed 56 million?

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15 minutes ago, VegasCanuck said:

Usually happens with guys who are leaving the NHL for Europe. It can be done, but would YOU walk away from a guaranteed 56 million?

No, hence my comment about JT Miller wouldn't do this (most probably). However, I can think of a scenario where this MIGHT (strong emphasis on the word might) happen.

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51 minutes ago, Rocket-68 said:

I have noticed that periodically a team and a player cancel a contract by mutual agreement. There generally is an underlying reason to do so such as "I need to go back home and take care of my ailing babushka so can't play in the NHL anymore." 

 

My question is could JT Miller and the Canucks agree to cancel the large contract that kicks in after this season is over because they just "want to"? Yes, I know that JT Miller probably would never want to do this as he made bank on said contract.

 

I suspect there are CBA clauses that govern these situations never mind how the NHLPA would view this and NHL head office (i.e., Bettman).

 

Hey, have to think outside the box sometimes. 

Flame away!

The only scenario is if we get Kessler to sleep with his wife.. then you ´might be onto something 

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1 hour ago, Rocket-68 said:

I have noticed that periodically a team and a player cancel a contract by mutual agreement. There generally is an underlying reason to do so such as "I need to go back home and take care of my ailing babushka so can't play in the NHL anymore." 

 

My question is could JT Miller and the Canucks agree to cancel the large contract that kicks in after this season is over because they just "want to"? Yes, I know that JT Miller probably would never want to do this as he made bank on said contract.

 

I suspect there are CBA clauses that govern these situations never mind how the NHLPA would view this and NHL head office (i.e., Bettman).

 

Hey, have to think outside the box sometimes. 

Flame away!

I believe you can't play in the NHL if you terminate the contract for a certain period of time. 

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The only contracts that get cancelled are for guys that won't be playing in the NHL any more.

 

Before the cap era, guys like Alexei Yashin would decide they were worth more than their existing contract was paying them.  They would sit out until the team tore up their contract and gave them a raise, or until they got traded to another team who did the same.  Basically, they would hold the team hostage.

 

Luckily, under the current CBA, that can't happen anymore.

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Hey JT 

Listen,  I know this was your last chance at a big contract and you just had a huge year to earn it.  
BUT

Would you mind ripping that one up and sign this one here worth half that instead?   
We decided you aren’t worth as much to us this 6 months later.  
It would be swell if you could help us out.  
Thanks. 

Edited by D.B Cooper
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3 hours ago, Viper007 said:

I believe you can't play in the NHL if you terminate the contract for a certain period of time. 

1 hour ago, lmm said:

I think this is correct

I believe it is for the length of the contract

 

Kings and Kovalchuk agreed to part ways back in December 2019 - he still had another year left but walked away from 4.25M.  He went on to sign with Montreal in January to end that season.  

 

His contract page on CapFriendly:  https://www.capfriendly.com/players/ilya-kovalchuk

 

Edited by mll
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8 hours ago, mll said:

 

Kings and Kovalchuk agreed to part ways back in December 2019 - he still had another year left but walked away from 4.25M.  He went on to sign with Montreal in January to end that season.  

 

His contract page on CapFriendly:  https://www.capfriendly.com/players/ilya-kovalchuk

 

Still looks like the whole salary went against the Kings cap though, so they don't have to pay him the 6.25 but it was 6.25 x 2 used up of cap space.

 

Makes no sense to do this with miller. 

 

https://www.sportsnet.ca/hockey/nhl/looking-ilya-kovalchuks-complicated-contract-history/?sn-amp

Edited by OldFaithfulCap
lk
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