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The Florida Panthers Messed Up

from Patrick Johnston of the Vancouver Province,

In trying to create maximum cap space so that he could sign both Sergei Bobrovsky and Artemi Panarin, did Florida Panthers general manager Dale Tallon suddenly find himself in a game of Russian Roulette?

If so, given he was prepared to go all out for Panarin’s services, it would seem lost.

You may recall that days ahead of the opening of free agency, Roberto Luongo did something that nearly no other player signed to a so-called back-diving contract has done. He retired, officially.

It has been suggested in these pages that Luongo’s retirement being official was a team-driven preference. There was a need to create as much cap room as possible and while the Panthers would still incur a cap-recapture penalty if Luongo were to officially retire instead of doing what others have been doing for years — failing their training camp physical and being paid out the remainder of their salary, while living out life on long-term injury reserve — that penalty would be much less than the cap hit his contract was costing the Panthers.

Due to the math of the collective bargaining agreement’s cap recapture formula, designed to dissuade teams from signing long contracts with low-wage years at the end to gain a cap advantage, Luongo’s retirement created a US$3 million cap penalty for the Vancouver Canucks.

That penalty, though, is where things appear to have gone off the rails for the Panthers.

read on

Filed in: NHL Teams, Florida Panthers, Vancouver Canucks, | KK Hockey | Permalink
 

Comments

Avatar

The Spooner buy out had a knock-on effect. When Spooner was traded by the New York Rangers to the Edmonton Oilers — the Oilers would later flip Spooner to the Canucks — the Blueshirts agreed to retain US$900,000 of his salary on their own cap budget. The Canucks’ buyout of Spooner reduced his Rangers cap hit to US$300,000.

According to the New York Post’s Larry Brooks, that US$600,000 savings proved to be the difference maker in the Rangers, not the Panthers, as most had expected, securing Panarin’s signature. It allowed the Rangers to bump up their offer by just over US$600,000 per season.

The Rangers still have over eight million in cap space. This savings of 600k had absolutely not a single thing to do with Panarin picking New York of Florida.

Funny how things work out.

Yeah, funny how the Panthers weren’t adversely affected by what happened at all, and it’s a different team’s media that’s whining and crying about it.

Newsflash Patrick: It’s not Florida’s job to make it easy on the Canucks.

Posted by CharDeeMacDennis on 07/08/19 at 09:29 AM ET

StayClassy's avatar

Exactly. This article could have just been interesting in examining the teams moves in a domino effect sort of way. However to play it off like the $600k made the difference in the Panarin signing is blasphemy. Especially so when you take in the tax differences between NY and FLA.

Posted by StayClassy from Wings fan in Columbus on 07/08/19 at 10:20 AM ET

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Agree with both posts above. Panthers recapture penalty is a mild $1,094,128 per year. They don’t have to deal with having doctors verifying Luongo each year and when he is ready the Panthers will most likely give Luongo a job if he wishes one. The Canucks knew the risk when they traded Luongo back to the Panthers. Dale Tallon has no need to make life easier for the Canucks.

Panthers have a very good group of forwards. Scoring wasn’t a problem, keeping the puck out of their own net was. As nice a luxury of having Panarin would be; the money was better spent on solidifying the defense, adding secondary scoring and adding a gritty fourth line penalty killer. Dale Tallon made all the right moves.

Posted by Puckbubba on 07/08/19 at 11:01 AM ET

TreKronor's avatar

Luongo’s retirement created a US$3 million cap penalty for the Vancouver Canucks.

Stated by:

Patrick Johnston of the Vancouver Province

That pretty much sums it up.

Posted by TreKronor on 07/08/19 at 02:15 PM ET

Avatar

Panthers don’t have as much need for Panarin.

Canucks always do some dumb things related to the cap. Eriksson, Sutter and Beagle combine for over $13 million while they ride along as 3rd or 4th line. So they add JT Miller at over $5m and he had 13 goals last year. They employ several cases of “like the player, just not at that number”.

Posted by mtta on 07/08/19 at 09:31 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.

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