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Report- CBA Loophole Closed

from Larry Brooks of the NY Post,

The NHL on Monday moved to close a loophole left in the allegedly airtight collective bargaining agreement by notifying general managers the league would deem re-signing a player following a trade and a subsequent amnesty buyout as circumvention, and thus would not register the contract, The Post has learned.

It is believed the Lightning and Maple Leafs had discussed such a maneuver regarding Vincent Lecavalier, who has seven years and $45 million remaining on his contract, with the buyout thus worth slightly more than $30 million.

The amnesty buyout period begins Wednesday night at 11:00, and lasts through July 4, one day before the opening of this year’s free agent market.

The clubs theoretically would have concocted a swap in which Tampa Bay would have sent an asset — perhaps a draft pick — to rolling-in-dough Toronto along with Lecavalier, who would have re-signed a more modest deal with the Lightning after being bought out by the Leafs.

continued plus a few other NHL topics...

Filed in: NHL Teams, NHL Talk, | KK Hockey | Permalink
 

Comments

Nathan's avatar

This highlights the issue of not being able to renegotiate contracts. It completely eliminates the option for a guy like Briere, for example, to stay in Philly if he wants to. Instead, Briere is a victim of the poor job his GM has done managing his cap. The same could happen to Malone and Lecavalier (even if that wasn’t the current GM’s fault).

Posted by Nathan from the scoresheet! on 06/26/13 at 02:25 PM ET

Paul's avatar

via TSN,

NHL Deputy Commissioner Bill Daly sent out a memo to all 30 teams this week, warning them to play by the book when it comes to buyouts and trades.

Daly’s memo warned that any trade/buyout/re-acquire scenario would be deemed a circumvention of the collective bargaining agreement. The CBA prevents teams from re-signing players they’ve bought out for one year.

Posted by Paul from Motown Area on 06/26/13 at 04:38 PM ET

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

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