KK Members Blog

KK Members Blog

The Kovalchuk Problem: Part 3 - The NeverEnding Story

08/20/2010 at 4:20pm EDT

The third part in this installment was supposed to be the last, as in any traditional multi-part story, but perhaps comparisons to even the Lord of the Rings trilogy would not quite do justice to the length of the Kovalchuk saga, and it may be better reflected in a four part series. Or more. At this point, who knows. Hence Falcor.

Here are some basic facts:

How About Some Positivity?

08/18/2010 at 11:16pm EDT

Like anyone else, I have gotten angry about the hockey team I follow. But, for me, the feeling—almost always more disappointment than anger—usually fades away pretty quickly.

I understand being passionate about hockey. I think we all do.

What is hockey if not some perfect mix of beauty and pure, raw emotion?

What I’ve never understood, though, are fans who go to games and spew out nothing but bitter hostility. Aren’t they watching the same game I am? Don’t they appreciate that the world’s fastest, most beautiful game (sorry, soccer fans) is being played at it’s highest level right in front of them?

Making the Most of Mistakes

08/16/2010 at 10:48pm EDT

I won’t pretend that I’m too well-versed on the inner-workings of the human brain.

For that matter, I don’t think I even bought the book for freshman year Psychology.

But, without any real research or reading, I think I can say fairly definitively that different parts of the mind control learning from mistakes and finding ways to bury them.

A prime example: Glen Sather.

Koval-stuck? The NHL’s “investigation” and who wants what

08/11/2010 at 4:16pm EDT

As you know by now, Judge Bloch has ruled that Ilya Kovalchuk is a free agent. Why? Well, his contract is invalid, so back to the bargaining table he goes. Much has been made of this fact, and pundits are theorizing intently as to whether he signs again in New Jersey, or heads somewhere else. Is LA still interested? Is Russia a serious option? Toronto? (I just had to mention Toronto because, well, they come up in reference to every free agent of any importance). While the hockey world speculates on Ilya-gate and the next move of the Kovalchuk camp, I would like to focus on the tidbit regarding “investigations” that came out of this ruling. Namely, that the NHL is looking into four other contracts and investigations are ongoing. Gary Bettman and Bill Daly are out on the streets in Vancouver, Chicago, Philadelphia and Boston, intimidating witnesses and interrogating suspects.

That’s right, it’s Law and Order: CIU (Contract Investigations Unit).

What could come of these investigations? Probably nothing, let’s start right there. Any notion that the Stanley Cup will be taken away from Chicago because Hossa’s contract was ineligible is moot. If that did happen though, Flyers fans would be pretty happy. Except, wait, the Pronger contract is being investigated. That would mean the second-last team to be eliminated would get the Cup. But don’t get your hopes up, Habs fans, that’s a pipe dream, and one hell of a long pipe.

Regier takes another PR hit for the team

08/09/2010 at 12:09pm EDT

Apparently, building a team that amasses 100 points and wins a division title doesn’t get you much slack or credibility in this town.

In the midst of a hot Buffalo summer that many Sabres fans were hoping would see some changes at the top of the forward lines and a touch-up on the power play unit, GM Darcy Regier has once again had his own feet put to the fire by Sabres Nation due to his trademark calculated and methodical management style.

In case you’re not keeping score at home, that’s the same infuriating management style that under his watch has produced four conference finals appearances.

One of those campaigns was ended in the ’99 Stanley Cup Finals with Brett Hull’s toe in the crease. Another was halted in the ’06 Eastern Conference Finals with four of Buffalo’s top defensemen out of the lineup against an otherwise evenly matched opponent in Carolina.

Trading Kaberle is a Difficult Decision

08/08/2010 at 9:58pm EDT

It’s a decision that deserves a lot careful assessment. At worst, it could potentially cost a Championship.

Amongst the fury to be rid of Czech native, Tomas Kaberle for potential booty - with the general perception that it’s the smart/right thing to do - trading him is fraught with a future hole that the Maple Leafs will have to pay for dearly at a later time.

If there’s a chance he could be retained and resigned, it’s an avenue that has to be examined.

The skills generating his value are unique and rare. Patience at the point , quarter back of the power play, silky smooth rushing ability with vision and creativity to lead the attack, while also capable of launching long-range passes up the middle for players streaking behind the defense, these are the same skills that a Championship club needs for success. That’s even with the softness in the Leafs zone.

It's been a strange off-season, what caught you off-guard? I bet these four things are on your list.

08/08/2010 at 8:18pm EDT

It’s August 8th, sunny and warm. But is hockey ever really that far off? Here are a few things I bet you didn’t expect to be the case this late in the summer of 2010:

1) Annti Niemi is a free agent: The fact he won the Stanley Cup was shocking enough, considering he was on few radars at the beginning of the 2009-2010 season. More shocking? His release from Chicago. Walking away from a $2.75 million arbitration ruling may have surprised the hockey world, but I have a feeling it will continue to reverberate with Niemi for years. Why? Well, look at his options.

Didn’t take long, did it? There’s Philadelphia, if they stray from Leighton and Boucher, and create some room (seems unlikely); there’s Washington, if they opt not to go with Varlamov (no word this is a possibility, so unlikely); there’s Montreal, if they can’t sign Carey Price (not going to happen; and then there’s Atlanta, the Chicago-East of the NHL, there’s the Islanders, and, well, that’s about it.

So from Stanley Cup winner to, likely, a Thrasher or an Islander. That’s gotta hurt. Neither team has a shot at winning anything in the near future, and even these potential starting opportunities are questionable. Atlanta already has two goalies, with the newly signed Chris Mason as the starter, but given Rick Dudley’s penchant for adding former Blackhawks, Niemi has to be a possibility. As for the Islanders, Niemi’s chances rest with the health of one man, Rick DiPietro.

Why Annti Niemi & the Islanders are a perfect fit

08/07/2010 at 10:00am EDT

It’s amazing to think about…looking over the extensive list of FA’s still available in the NHL, that the goalie of the Stanley Cup winning team is not only ripe for the picking for 30 teams, but won’t even be back on his team next season.

Niemi, still unproven to a degree, and only 26 years old, would be a valuable commodity for any team in need of goaltending help. Would one of those teams be the New York Islanders? Let me tell you why I think the Islanders & Niemi just go together, sort of like Lamb & Tuna Fish.

Goaltending Uncertainty: Rick DiPietro, one of the crown jewels of CBA circumvention, has a very suspect lower body after surgeries on his hip and knee. He showed, in brief stints last season, that he could still play but can his body hold up anymore? Dwayne Roloson, the Isles saving grace last season, turns 41 in October, and can’t be counted on to be that lights out again. Marty Biron, the other goalie in the Fish Sticks’ goalie carousel from last year, left for the New York Rangers this off-season. A young, Stanley-cup winning goalie could be the answer.

Reaching the Salary Cap Floor: The Islanders currently sit just this side of a million short of the $44 million salary floor required by all NHL teams. If GM Garth Snow isn’t going to improve his offense or defense, shoring up your goaltending is the next way to go. If Niemi is willing to do a short-term deal (2-3 years), or even a Marian Hossa-eaque 1 year deal, Islanders fans would sign up in a heartbeat.

Small Market: Since we’ve seen most teams sign their goalies, and some prominent names bolt to the KHL, there aren’t many spots left. Teams that have the cap space, such as the Thrashers and Oilers, have taken care of their goalie situations while teams that needed new net minders, like the Flyers and Sharks, made their decisions already. The Islanders might be the only place for Niemi to go, kinda like going to an island….by himself….to go play for the ISLANDERS…bad joke.

The only other team that could make sense is the Montreal Canadians. After shipping out playoff savior Jaroslav Halak, much to the dismay of Le Habitants, Carey Price could be given the keys to the kingdom. But, if Montreal brass feel Price needs some healthy competition, Niemi’s agent might be getting a phone call or two.

The NHL’s Best Fans…According to Forbes

08/04/2010 at 8:26pm EDT

Forbes has recently put out a list of the best fans for the four major sports leagues in North America (MLB, NBA, NFL, NHL). The list includes the top four teams from each of the leagues. The NHL is represented by the following teams:

3. Detroit Red Wings
6. Pittsburgh Penguins
11. Montreal Canadiens
16. Chicago Blackhawks

This excerpt from the Forbes article explains how the list was comprised:

Everyone loves playing GM...so it's my turn

08/04/2010 at 3:21pm EDT

While I like to write about hockey generally, I am clearly a Habs fan. So, if you’ll allow me to dabble for a moment, my thoughts on the Canadiens roster - as of August 4.

Sidenote: While I’d like to add Kovalchuk, Selanne, etc. etc. – the cavalry ain’t coming. I have tried to be as realistic as possible with potential additions/subtractions. Now, onto the fun.

Forwards

Up front, Pierre Gauthier has made some significant changes, but perhaps more significant is what he has not done. Gauthier has brought in Dustin Boyd, a valuable fourth liner at a much lower salary than, say, Glen Metropolit. A good cap move that makes the team younger and faster. The big acquisition of the summer - so far - is Lars Eller. Acquired in the Jaroslav Halak deal, Eller gives the Canadiens a rising young power forward for the 3rd line centre role. He replaces Dominic Moore, bringing much more offensive upside and potentially more physicality.

Perhaps the most surprising move to many Habs fans was the re-signing of Tomas Plekanec to a five year contract. While I am a big Plekanec fan, even I must admit his playoff performance was lacklustre at best. After scoring the overtime winner in game one of the playoffs, he was virtually invisible as the Canadiens defeated Washington, Pittsburgh and then fell to Philadelphia. This suggests two things: one, the Canadiens felt Plekanec was good value at five million a year, and two, the Habs braintrust believes Plekanec will continue to grow into the role. What must be acknowledged is that while Plekanec scored 70 points last year, and 69 three years ago, he is also a great defensive cog for the Habs penalty kill. He is arguably the PK’s hidden secret, a catalyst for the Candiens success short-handed in the past two or three seasons.

What wasn’t done? Well, while Sergei Kostitsyn was shipped to Nashville in the Boyd deal, brother Andrei still finds himself in Montreal. Owners of perhaps the largest biceps in Quebec, Andrei Kostitsyn possesses incredible physical talent, but often seems out of synch with the rest of the team. Will having his meandering little brother out of the way lead to Andrei’s coming out party? Only time will tell.

Antti Niemi . . . We Hardly Knew Ye

08/03/2010 at 11:57pm EDT

So just like that, the Antti Niemi Era has ended . . . almost as unspectacularly as it began.

This week, the Blackhawks let their rookie Stanley Cup-winning goaltender walk away from a $2.75 million arbitration ruling and ushered in Dallas castoff Marty Turco as his replacement.

Make no mistake: The Niemi Era was short lived, but spectacular.

It began in fits and starts with no small amount of organizational waffling as Joel Quenneville and the Hawks brain trust bent over backwards giving Cristobal Huet every possible chance to cling to the starter’s job. But throughout the regular season, Huet ran from lukewarm to cold, leaving many to wonder about the kid from Finland who was exceptional in most of his backup stints. This went on and on and sometime in March – long after it became apparent to everybody with a functioning pair of eyes that Niemi was the man – Huet gagged hard in an 8-3 loss to lowly Columbus and the Hawks had no choice but to make it official: Huet was toast and Niemi was the Hawks new #1.

Once upon a time you dressed so fine...

08/01/2010 at 10:37pm EDT

You threw the bums a dime in your prime, didn’t you?

Training camps are a mere five weeks away, and yet numerous NHL veterans remain unsigned, actively searching for work in a league that has priced them out. While the current CBA has seen salaries skyrocket at the top of the league, the middle and bottom-end players have been pinched. Though it’s difficult to have any actual sympathy for folks making millions to play a game, the facts are undeniable: record setting long-term contracts for the Kovalchuks, Luongos, and Keiths of the world, while solid NHLers such as Bill Guerin, Paul Kariya, Andy Sutton, Eric Belanger, Marty Turco and Jose Theodore remain on the sidelines. Sure, these guys may be past their prime in many cases – but they still make a difference. Unfortunately, if Mathieu Darche is available and willing to play for $500k, or a rookie at $750k, why sign a 3rd or 4th line plugger like Belanger for $1.5 or $2 million?

You Had Me at Draft Picks Four and Five

08/01/2010 at 8:56am EDT

Greetings from Portland, Oregon, temporary home of eight picks from the 2010 NHL Entry Draft. That includes the 4th and 5th overall picks, Ryan Johansen and Nino Niederreiter. It wasn’t always this way. Last year at this time, the Portland Winterhawks were very nearly the worst team in the WHL, we hadn’t made it into the second round of the playoffs and we certainly weren’t home to a small minivan full of NHL prospects.

What a difference a year, a new owner and a few well-chosen prospects makes. Today, I paid out the second of several installments on Winterhawks season tickets. It’s the first time I’ve ever owned season tickets to anything, even hockey. This is in addition to my cable package with the NHL Network and the NHL Center Ice Package.

Since I’m investing in hockey the equivalent of a down payment on a small car, it got me to thinking about why we even watch the game in the first place. It’s violent, loud, bloody, smelly, vulgar and ruthless. No place for a respectable girl, my grandmother would say. Why, then, do I love the NHL Network, bobbleheads, fatheads, beer and shameless use of profanity? No clue about the fatheads and the bobbleheads, but I do know this:

High Time Nikolai Got His Antro-Props!! A Thrashers Fan's Voice

07/31/2010 at 8:27pm EDT

If somebody walked up to me and asked, “So, how do you fancy having Nik Antropov on your team?”, I would probably exclaim “Very nice!” with my hands giving the double thumbs-up sign like Kazakhstan’s most famous commercial “product”, Borat. But for those of us who reside here in Thrasherville, we know full well that Sacha Baron Cohen’s kooky Kazakh character plays a close second to the most accomplished export from the former Soviet state, Nikolai Antropov. The imposing and skillful hockey player from Ust-Kamenogorsk has already made an indelible impression on the fans of the Atlanta Thrashers for his hard work, quiet leadership and adroit use of a hockey stick. Our only complaint? We just wish he would shoot the puck more!

Thoughts on a Thornton Extension

07/31/2010 at 10:35am EDT

Reports have emerged in the past few weeks, first from Pierre LeBrun and then Craig Custance, indicating that the San Jose Sharks are at work on a contract extension for Joe Thornton. It’s a bit of a no-brainer: Thornton has led the Sharks in scoring in each of his five seasons with the club, he’s established himself as a fan-favorite (for good reason), and it seems he enjoys being a part of the community and organization after his experience with Boston. For better or worse—taking into account his playoff shortcomings and laid-back attitude—it’s clear that the Sharks have hitched their wagon to Thornton.

The big question, then, is not if the Sharks should sign Thornton to an extension, but for how long. Sharks General Manager Doug Wilson has already re-signed two key forwards to new deals this summer—Patrick Marleau and Joe Pavelski—both for four years. In talking to Custance, Wilson said, “We don’t have any contracts longer than four years. We are a player payroll team. We operate the way we operate.” We could assume, then, that Thornton might be extended for three or four more years as well. Would it be more prudent for the Sharks to extend Thornton for longer, though?

Leave it to Steve

07/31/2010 at 12:40am EDT

Tampa Bay announced the addition of Dominic Moore today, a player who brings much more to the table than most pundits give him credit for. Crafty, fast, gritty and great on faceoffs, Moore was a key cog in the Canadiens playoff race in 2010. He’s a smart supplement for the talented roster Steve Yzerman has put together as a rookie general manager in mere months.

What Yzerman and a new ownership team have accomplished in a short amount of time is quite impressive. He’s installed smart hockey people across the organization, from the scouting department to behind the bench. Guy Boucher, as a new member of the NHL coaching fraternity, was viewed as something of a genius by his former employers, the Montreal Canadiens. Literally. He has two university degrees, studies his players carefully and communicates extremely well. He is said to keep books of notes – on each player he coaches. This sort of cerebral approach to the game, combined with the respect Boucher shows his players, is exactly what Tampa Bay needs post-Tocchet - and certainly post-Melrose. The Canadiens were very, very sad to see him go. Boucher was a great hire, and a fantastic first personnel move for GM Yzerman.

Dr. Jekyll and Mr. Hyde: The Trading History of Doug Wilson?

07/29/2010 at 5:40pm EDT

It’s no secret around the league that the San Jose Sharks, if they have any hope of contending for the Stanley Cup again, need to improve their defense. General Manager Doug Wilson was characteristically quiet on July 1, despite reportedly making an offer to Dan Hamhuis, and was shot down by the Chicago Blackhawks after signing Niklas Hjalmarsson to an offer sheet. With Rob Blake’s retirement this summer, there is a gaping hole somewhere in the Sharks’ top two defensive pairings, and the only conceivable way for Wilson to fill this gap is now through a trade.

Wilson has made his name around the league as a manager thanks to his blockbuster deals, hauling in Joe Thornton, Dan Boyle, and Dany Heatley in a trio of trades that look to be long-term successes for the Sharks. These players, along with Patrick Marleau and Joe Pavelski, make up the core of a team that should be competitive for several more seasons. In that regard, Wilson has done a fine job in shaping this Sharks squad.

But the story doesn’t end there. Wilson has struck out quite notably with several other trades—all of them, not coincidentally, near the trade deadline. Try to pick a single winner for the Sharks out of any of these deals:

Making The Case For The Kings To Retire Rob Blake's #4

07/29/2010 at 3:17pm EDT

Two subjects have been the topics of heated debate this summer among Kings fans:

1) Ilya Kovalchuk

2) Now that Rob Blake has retired should the Kings retire his #4?

I’m not going to get near the Kovalchuk mess. I think enough has been said ad nausem on the topic and it’s time for Kings fans to move on - unless he somehow ends up in LA after all. I’d like instead to address the question of whether the Kings should retire Rob Blake’s jersey?

For those who aren’t familiar with the nuts and bolts of the story, many Kings fans hold a grudge against Rob Blake because they feel he put money ahead of all else and deserted the Kings for greener pastures in Colorado, and then later in San Jose, when he had the chance. My personal opinion is that Blake was first and foremost a professional athlete and you gotta make your money when you can. It’s a limited window of opportunity for a player to get paid and I don’t begrudge anyone who makes that a priority. Could Blake have handled the situation better? Probably. Only he can really answer that.

It's 30 degrees in Montreal - naturally, it's time to talk goaltenders

07/29/2010 at 1:22pm EDT

August is almost here and one mystery Canadiens fans would like solved is a contract for starter Carey Price. Now the anointed number one goaltender, little to no information has leaked from either side as Price’s representatives negotiate (we presume) with Canadiens General Manager Pierre Gauthier. Is it possible Gauthier has made a fatal error only months into his new tenure as the decision maker in Montreal?

Let’s consider his course of action in dealing with the goaltending “crisis” that afflicted the Habs coming into the offseason. Firstly, the media largely fabricated this “crisis” - it’s not a crisis when a team possesses a plethora of young talent, it’s simply a decision for the future. After all, both goaltenders were on the record that they would be happy to share the load another year. Secondly, crowd favourite and playoff saviour Jaroslav Halak, like Carey Price, was a restricted free agent, s so while the possibility of an offer from another team loomed, his rights were protected. Yet Gauthier chose to cut bait rather than fish out the month of June.

GMs Playing the Waiting Game for 3rd/4th Liners

07/28/2010 at 10:03pm EDT

With August only a few days away, a surprising number of quality free agent forwards are still available. And with the way the market is moving, there’s no reason to believe all of these players will be scooped up in the next month.

What we’re seeing is another byproduct of the salary cap era in the NHL. Many of the expected Stanley Cup contenders for next season are looking at big holes in their lineups and little cap room to fill those voids. The non-contenders, builders, and small-market franchises are more willing than ever to hit the cap floor and then fill in with youth. The result? Dozens of solid veterans, 3rd and 4th liners—some of whom are strong penalty killers or have the talent to move up to the 2nd line in a pinch—are waiting out the general managers who know they can strike late and get a bargain.

It’s not an entirely bad situation for these free agent forwards. The best example from last season is that of Manny Malhotra going to San Jose in September on a pseudo-tryout basis, then signing an under-market, one-year, $700,000 contract with the Sharks. Malhotra is a solid all-around centerman, excellent in the faceoff circle, a decent penalty killer who was coming off his best offensive season, a 35-point campaign with the Columbus Blue Jackets.

Top 10 Remaining UFA’s

07/28/2010 at 8:32pm EDT

After a flurry of activity in the first couple days of the free agent season, the market cooled off, leaving a lot of players sitting on the sidelines waiting for their phones to ring. There was a sense that everyone was waiting for Ilya Kovalchuk to sign and then the remaining pieces would start to fall into place. Well we are approaching August and although Kovalchuk is not officially signed, I would be surprised if he did not end up with the Devils shortly.

This past week a couple of the remaining UFA’s (Alexander Frolov and Alexei Ponikarovsky) were inked to one year deals. It appears as though there isn’t an appetite to sign these mid tier free agents to multi year deals. That does not bode well for the players on my list as they too will probably have to settle for a one year deal in hopes of cashing in next year.

I will preface my list by saying that probably the best available UFA, even at the tender age of 40, is Teemu Selanne. However, it is pretty clear the Selanne will either retire or sign on for another year in Anaheim.

Here are my top 10 remaining UFA’s:

Taking a look at the Leafs Roster and Cap Situation

07/25/2010 at 11:01pm EDT

The Toronto Maple Leafs ended last season with a 10-5-3 record after the Olympic break, giving them the fourth best record in the Eastern Conference for that time period. Many people consider this garbage time, when the games don’t matter, but the team put up this record playing against teams whose games meant a hell of a lot. Now I do not think the Leafs will finish in the top 4 of the Eastern Conference based on these results, however, with the additions of Versteeg, Armstrong, Lebda, and a healthy Komisarek, this team should be able to obtain a playoff spot. Anything less than a playoff spot should be considered a failure. This may seem like a lofty goal for a team that finished second to last overall last year, but Burke has made moves to make this team better immediately, not five years from now.

Looking at the Leafs roster they are set in between the pipes this year with Gustavsson and Giguere sharing the duties ($7.35M cap hit for the pair). This tandem ended the season well and Gustavsson was much better down the stretch compared to early in the season. On the blue line the Leafs have a log jam with 8 NHL defensemen ($25.5M cap hit) on the roster. Up front the Leafs have some holes to fill. They currently have 10 (Bozak, Kessel, Kulemin, Versteeg, Armstrong, Grabovski, Sjostrom, Brown, Orr, Mitchell) roster spots filled ($20.6M cap hit). Overall the Leafs have committed approximately $53.5M in salaries, along with another $2.4M in buyout and carryover penalties, and another $0.665M in bonus allowance overages. That gives them a total cap hit of $56.55M, leaving the Leafs with $2.85M in space to work with to add 3 roster players (minimum roster size is 18 skaters and 2 goalies, maximum roster size is 23 players).

Where Will Kaberle Land?

07/23/2010 at 4:28pm EDT

Probably the most interesting story to all Leaf fans this summer is whether Tomas Kaberle will be dealt or if he will stick with the Buds. More importantly, if he is dealt, what kind of talent will Brian Burke get in return. Although the Ilya Kovalchuk saga has yet to come to an end, a Kaberle deal is likely to happen soon if there is one at all.

Brian Burke has been stubborn on his view of trading Kaberle since he has taken on the Leafs GM job. Burke is looking for a young top six forward as well as a prospect in return. If he doesn’t get that he says that Kaberle will stay a Leaf. In my opinion, if Burke can get a young top six forward OR a high level prospect for Kaberle he will have done well. I don’t see how Burke can hold on to Kaberle as the Leafs have too much money tied up in their defense. The only way I can see Burke keeping and extending Kaberle is if he can some how trade Francois Beauchemin, which doesn’t seem possible right now.

So if Kaberle is going to be traded, then where will he end up and what will the Leafs get back in return? I took a look at the other 29 teams and gave my thoughts on whether I think they could be in on the Kaberle sweepstakes, and what the Leafs would be looking for in return. I assigned a percentage value for each team’s likelihood in acquiring him.

A Lost Season for “Cost Certainty”

07/22/2010 at 11:43pm EDT

In light of the recent debacle, known as the Ilya Kovalchuk contract saga, and listening to and reading wide ranging opinions on various radio stations and print media, I can’t help but thinking back to the lockout and lost season of 2004-2005.

The main issue of the CBA negotiations was the idea of creating “cost certainty” for the owners. Gary Bettman wanted to ensure that player salaries were linked to league revenues. After a lost season, Bettman and the owners were able to get the salary cap or “cost certainty” that they desired. Player’s salaries are now guaranteed to be 54% of league revenues and teams must meet a salary cap floor.

The salary cap for the 2005-2006 season was set at $39 million with a salary cap floor just over $21 million. In comparison, the current salary cap for the 2010-2011 season is set at $59.4 million with a cap floor of $43.4 million. The salary cap has increased by over 40% in its first five seasons of existence and the cap floor has more than doubled! That is a pretty impressive growth rate considering that returns in the stock market and most people’s pensions have shrunk. What is even more perplexing is that the salary cap floor is now more than 10% higher than the original salary cap.

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