Luongo's deal under investigation

[HonusWagner66]

Luongo's 12-year contract deal now under investigation

I don't know if this has be discussed on here or not, but the league has the option of looking into other long-term contracts already approved. And apparently they are taking a serious look at Luongo's...

 

[Forty_Sixand2]

They should look into the last year of Nylander's deal....

 

[DaBoltsNIsles]

The league needs to take a look at the deals signed by Zetterberg & Holmstrom. Hossa's deal as well.

 

[IPostedWhat]

 

[flyersfan4706]

Oh man. If the NHL starts going after these kind of contracts after approval I...I...I'll be ticked!

 

[DaBoltsNIsles]

My feeling is the league should look into every contract that is 10 years or longer.

 

[puckhead]

a footnote on page 19 of the document:

23
It is true, as the Association observes, that the NHL has registered contracts with structures
similar to the Kovalchuk SPC PA Exh. 8 reflects a list of 11 multi-year agreements, all of which
involve players in their mid to late 30’s and early 40’s. Most of them reflect reasonably
substantial “diveback” (salary reductions that extend over the “tails” of the Agreement). Of these,
four such agreements, with players Chris Pronger, Marc Savard, Roberto Luongo, and Marian
Hossa reflect provisions that are relatively more dramatic than the others. Each of these players
will be 40 or over at the end of the contract term and each contract includes dramatic divebacks.
Pronger’s annual salary, for example, drops from $4,000,000 to $525,000 at the point he is
earning almost 97% of the total $34,450,000 salary. Roberto Luongo, with Vancouver, has a 12-
year agreement that will end when he is 43. After averaging some $7,000,000 per year for the
first 9 years of the Agreement, Luongo will receive an average of about 1.2 million during his last 3
years, amounting to some 5.7% of the total compensation during that time period. The apparent
purpose of this evidence is to suggest that the League’s concern is late blooming and/or
inconsistent. Several responses are in order: First, while the contracts have, in fact, been
registered, their structure has not escaped League notice: those SPCs are being investigated
currently with at least the possibility of a subsequent withdrawal of the registration. It is also the
case that the figures in Kovalchuk’s case are demonstrably more dramatic, including a 17-year
term length, a $102,000,000 salary total and precipitous drop that lasts for the final six years of
this contract.

to me, it says that the league has looked at them (and reserves the right to take future action), but also concedes that Kovalchuk's contract is much worse on all levels.

 

[BOSSMANPC]

My feeling is the league should look into every contract that is 10 years or longer.

This .

 

[DaBoltsNIsles]

The league needs to take a look at the deals signed by Zetterberg & Holmstrom. Hossa's deal as well.

I don't see an edit button, I meant FRANZEN not Holmstrom.

 

[Destroydacre]

The league needs to take a look at the deals signed by Zetterberg & Holmstrom. Hossa's deal as well.

So what does it say about the league then that teams can sign players to these contracts, the league can give approval, the players can play a year or two under these contracts and then the league can void them? If they void Hossa's deal, doesn't that mean the league showed Chicago favoritism letting Hossa get a small enough cap hit so Chicago could squeeze under last year and then win the Stanley Cup only to reverse it after? Some hockey fans wonder why the NHL is viewed by many as a joke of a league but with this going on I can definitely see why some people think that.

 

[devs30rko]

i don't like these deals, never have... .and i stated this a lot through the kovy mess but.....


NO. these deals, while i don't like them i dislike any POWER TRIP gary and the NHL go on that much more.

you approved these deals, you made your bed, now sleep in it you son of a bitch. if you didn't like them, you should have rejected them, you clearly had the basis too after the result we saw today.

 

[DaBoltsNIsles]

So what does it say about the league then that teams can sign players to these contracts, the league can give approval, the players can play a year or two under these contracts and then the league can void them? If they void Hossa's deal, doesn't that mean the league showed Chicago favoritism letting Hossa get a small enough cap hit so Chicago could squeeze under last year and then win the Stanley Cup only to reverse it after? Some hockey fans wonder why the NHL is viewed by many as a joke of a league but with this going on I can definitely see why some people think that.

If a contract is deemed to be cirumventing the cap & the league has the right to look into it no matter when it was signed, they should. I don't care what the implications are. These 10 year plus contracts like the one Kovalchuk signed need to end.

 

[devs30rko]

it will make this league look SO BAD its not even funny, simply say no more, you just gained the ability today to shut any more of those type of deals down.

if you go back and pull the rug out from underneath those deals your embarrassing those teams, whom you otherwise represent and you are making a mockery of the leagues integrity..... if it has any.

 

[Destroydacre]

If a contract is deemed to be cirumventing the cap & the league has the right to look into it no matter when it was signed, they should. I don't care what the implications are. These 10 year plus contracts like the one Kovalchuk signed need to end.

You may not care but I do. This could lead to some very shady stuff. If they void the Hossa contract (or any of these other ones honestly) I'll lose all faith in the NHL and the people who run it.

 

[devs30rko]

next CBA heres a compromise......

the nhl gets its contract length limit.... say 10 years

the nhlpa gets a clause that once a contract is registered its FINAL no going back on it for either side.


otherwise Gary is gonna run this league like its fucking auschwitz

 

[DaBoltsNIsles]

next CBA heres a compromise......

the nhl gets its contract length limit.... say 10 years

the nhlpa gets a clause that once a contract is registered its FINAL no going back on it for either side.


otherwise Gary is gonna run this league like its fucking auschwitz

That would be fine as long as every deal was a dollar for dollar contract. What I mean is the money the player receives is the actual cap hit. None of this his salary is 5 million but his cap hit is 4 million crap.

 

[h X c Chris]

Chicago would be in a world of hurt if they voided that Hossa contract.

 

[ritari330]

They should look into the last year of Nylander's deal....

IOU a rep

 

[Forty_Sixand2]

I think that they should look into long term deals but ones like the Ovie and Backstrom one are actually reasonable if you think about it.

Ovechkin signed a 13 year deal at the age of 22 meaning he will be 35 at the end of it.

Backstrom signed a 10 year deal at the age of 23 meaning he will be 33 at the end of it.

Both of them will still be in the latter section of their prime at the end of these deals and I do not see the contracts as set up to circumvent the cap. If a young player wants long term stability and a team is willing to commit to them I do not have a problem with it. Maybe there should be a sliding scale of contract length limit based on the age of the player I aonly know examples of Caps deals but I am sure that there are other examples for other teams.

 

[awaz]

ya you can add mike richards in there with the reasonable crowd.. really dipietro's was reasonable too.. he was what, 23 and signed a 15 year deal?.. that one is biting the isles in the ass though

what i dont understand is what they plan on doing if the determine luongo's was cap circumvention? its good that they have precedent to eliminate these type of deals going forward (its bad for the game), but they cant terminate a deal thats already been approved, signed, and is in progress..

...can they?