darksabre Posted June 26, 2019 Report Posted June 26, 2019 15 minutes ago, Hoss said: Luongo retires Good for him. One of the most likeable players in the game. I hope he lands a nice TV gig somewhere.
WildCard Posted June 26, 2019 Report Posted June 26, 2019 18 minutes ago, Hoss said: Luongo retires That is big new for Vancouver, who now doesn't get the $3M cap hit they would have gotten if he went on LTIR
Hoss Posted June 26, 2019 Report Posted June 26, 2019 2 minutes ago, WildCard said: That is big new for Vancouver, who now doesn't get the $3M cap hit they would have gotten if he went on LTIR They DO get the cap recapture. They would not have had he gone on LTIR.
WildCard Posted June 26, 2019 Report Posted June 26, 2019 1 minute ago, Hoss said: They DO get the cap recapture. They would not have had he gone on LTIR. Ah, do they are not fans of this. Which is interesting, because they have/had some big plans
Hoss Posted June 26, 2019 Report Posted June 26, 2019 (edited) 14 minutes ago, WildCard said: Ah, do they are not fans of this. Which is interesting, because they have/had some big plans McKenzie says they've been prepared for this but I'm sure it's not a great situation. Interesting wrinkle, though: Vancouver is only adding $2.2M because they had $800K in retained salary for him that now comes off the books. Also, we compared Dylan Cozens' face to a lot of people... One new one to add to the list: young Lu. Edited June 26, 2019 by Hoss
WildCard Posted June 26, 2019 Report Posted June 26, 2019 (edited) So Luongo retired early and had cap recaptures penalties, so what would Shea Weber's look like you might ask? Interesting that the penalty increases the closer they get to fulfilling the contract Edited June 26, 2019 by WildCard 1
Taro T Posted June 26, 2019 Report Posted June 26, 2019 47 minutes ago, WildCard said: So Luongo retired early and had cap recaptures penalties, so what would Shea Weber's look like you might ask? Interesting that the penalty increases the closer they get to fulfilling the contract It's just simple math. Less time to recapture earlier cap adjustments the closer the guy was to being through the contract. And that recapture is why Ehrhoff had to be bought out rather than traded way back when. 1
Sabres Fan in NS Posted June 27, 2019 Report Posted June 27, 2019 My feelings on the Flyers are well known. That said, again, I believe strongly in giving credit when ever and where ever it's due ... https://www.cbc.ca/sports/gritty-surprises-young-fan-with-prosthetic-leg-1.5190833 I almost put this in the awesome thread. 1
WildCard Posted June 27, 2019 Report Posted June 27, 2019 1 hour ago, Taro T said: It's just simple math. Less time to recapture earlier cap adjustments the closer the guy was to being through the contract. And that recapture is why Ehrhoff had to be bought out rather than traded way back when. I'm confused, can you explain this more? I'm not fully understanding the concept behind a recapture
Taro T Posted June 27, 2019 Report Posted June 27, 2019 1 hour ago, WildCard said: I'm confused, can you explain this more? I'm not fully understanding the concept behind a recapture I'd written out a LONG response and it vanished, so hopefully this quick explanation clears it up. As you know, contracts can have the cash value paid out in any given year differ from the cap hit; but over the course of the full contract the 2 (cash value and cap hit) will net out to be equal. In the old CBA, if a player retired and the contract ended without those 2 equalling, there was no "recapture" to re-equalize those and teams that had given out highly front loaded deals effectively got to exceed the cap for the portion of the contract that was actually honored. E.g. with a 5 year deal paying out $6MM each of the 1st 4 years, with only $1MM in the final year with the player retiring after 4 years - the team will have given the player $6MM each year but only took a $5MM hit each of those years. There was no recapture and the team effectively had a $1MM higher available cap than the rest of the league did. In the last CBA, this loophole was corrected and with that same contract, should that player have retired after 4 years the team would have to "recapture" $4MM in that last year ($24MM cash paid out minus $20MM cumulative cap hit). The formula for the recapture is ((Total cumulative cash paid) - (Total cumulative cap hit)) / (Remaining years of contract after retirement). So, if there were 2 years left on thecontract and that same $4MM to be recaptured, the team would get charged $2MM this season and $2MM next season. If a player gets traded and then later retires, each team has to recapture whatever value will balance out their cash out and cap over the remaining years of the contract. So, (pulling these #'s from the air) if Vancouver paid Luongo $6MM more than their cumulative cap hit while he was there and Florida paid him $4MM more than their cumulative cap hit while a Swamp Cat and he had 2 years remaining on the contract then Vancouver would have their available cap lowered by $3MM each of the next 2 years and Florida would have their lowered by $2MM each year. If ony 1 year remained, it would go to $6MM and $4MM respectively. Their situation is slightly different because Van paid part of his salary during the FLA years and gets credit for that. The Sabres had to compliance buyout Ehrhoff because had he been traded and then retired with 1 year left on that original contract the Sabres would've had roughly a $10MM cap hit that final season of the contract term. (Apologies if any of this is off slightly; it's late and I am not going back through this again. Sorry.) 2 1
... Posted June 27, 2019 Report Posted June 27, 2019 @Taro T, if you write something that you can't rewrite in a forum reply/post box, you should always, always, "select all" and "copy" before you submit the post. Although, I think you have an usually higher instance of disappearing posts, and so would recommend writing them in notepad or something like that first so your...ahem...computer gremlins don't waste your time. 1
WildCard Posted June 27, 2019 Report Posted June 27, 2019 @Taro T That was actually very helpful, explained the whole concept/rule perfectly. Thanks man! 1
Taro T Posted June 27, 2019 Report Posted June 27, 2019 1 hour ago, ... said: @Taro T, if you write something that you can't rewrite in a forum reply/post box, you should always, always, "select all" and "copy" before you submit the post. Although, I think you have an usually higher instance of disappearing posts, and so would recommend writing them in notepad or something like that first so your...ahem...computer gremlins don't waste your time. Yeah, I've been typing out more Posts from my phone lately (for a handful of reasons) but the one downside is that with far too great a frequency, my pressing the "submit reply" button actually triggers the "next unread topic" button. I appreciate the recommendations. But believe I've found a way to recover most of the 'lost' reply when that happens. (As after I'd retyped the reply to WildCard and submitted it, I managed to get the original version back.) We'll see. If not, maybe it's time for a new tablet. Haven't used my computer to view this site in close to a decade.
Sabres Fan in NS Posted June 27, 2019 Report Posted June 27, 2019 6 minutes ago, WildCard said: That's the worst kept secret ever.
TrueBlueGED Posted June 27, 2019 Report Posted June 27, 2019 29 minutes ago, WildCard said: Couldn't they have terminated his contract for failure to report?
WildCard Posted June 27, 2019 Report Posted June 27, 2019 2 minutes ago, TrueBlueGED said: Couldn't they have terminated his contract for failure to report? Maybe he agreed to waive his NTC (honestly not even sure he had one) to go there on the condition they buy him out?
Drunkard Posted June 27, 2019 Report Posted June 27, 2019 2 minutes ago, WildCard said: Maybe he agreed to waive his NTC (honestly not even sure he had one) to go there on the condition they buy him out? I think that's likely the case. Getting bought out still nets him a decent chunk of his remaining contract. Failure to report nets him nothing financially.
dudacek Posted June 27, 2019 Report Posted June 27, 2019 3 minutes ago, WildCard said: Maybe he agreed to waive his NTC (honestly not even sure he had one) to go there on the condition they buy him out? Absolutely. Even if it was a non-binding verbal deal, good luck dealing with players and agents in the future if you fail to honour it.
Sabel79 Posted June 27, 2019 Report Posted June 27, 2019 1 hour ago, TrueBlueGED said: Couldn't they have terminated his contract for failure to report? Not, I don’t think, until he actually failed to report in September, and even then there’d be a process. Berglund helped his case along, didn’t appeal, that sort of thing.
Stoner Posted June 27, 2019 Report Posted June 27, 2019 17 hours ago, New Scotland (NS) said: My feelings on the Flyers are well known. That said, again, I believe strongly in giving credit when ever and where ever it's due ... https://www.cbc.ca/sports/gritty-surprises-young-fan-with-prosthetic-leg-1.5190833 I almost put this in the awesome thread. I'd be surprised. Let's test this: Brad Park has a foundation that drops packets of decaf coffee into chipmunk burrows.
Sabres Fan in NS Posted June 27, 2019 Report Posted June 27, 2019 21 minutes ago, PASabreFan said: I'd be surprised. Let's test this: Brad Park has a foundation that drops packets of decaf coffee into chipmunk burrows. You are better than 'that guy' who brings up Brad Friggin' Park. And the dastardly Flyers mascot is not a player, or anything, eh!!
Recommended Posts