Sunday, July 13, 2008

Lecavalier gets lifetime deal

Lightning owner Oren Koules said Saturday night the Lightning has signed superstar center Vinny Lecavalier to an 11-year contract extension worth $85-million.

"This is a huge day for this organization," Koules said. "We're unbelievably proud."
Another monstrously long contract.

Lecavalier's cap hit comes in at $7.72-million a season, a number that's affected by the fact that the 10th and 11th years of the deal, when he will be 39 and 40, the contract is only $1.5- and $1-million.

Consider that a loophole.

The probability of him playing for that amount of cash in 12 years, when $1-million is guaranteed to be below the league minimum salary, seems low. Tampa Bay gets a break against the cap because of the bogus tack ons given his actual salary is $8.5-million or more for the next eight years beginning in 2009-10.

Still, good on the Lightning for locking up their star for a pretty reasonable figure against the cap. The biggest issue will be the fact he's due $10-million a season (including bonuses) for seven seasons until 2016-17.

At that price, he better have a few Hart trophies in him.

Salary breakdown:
2009-10 until 2015-16: $10-million
2016-17: $8.5-million
2017-18: $4-million
2018-19: $1.5-million
2019-20: $1-million

UPDATE “I’m proud and honored to be committing myself to the Tampa Bay Lightning for the rest of my NHL career,” Lecavalier said. “It’s no secret how I feel about the organization, the fans and the Tampa Bay community, and there’s no place else I’d rather be. Combine that with the enthusiasm and commitment to winning that has been shown by owners Oren Koules and Len Barrie, and signing this long-term deal was an easy decision.”

One other item of note: The contract has a no-movement clause.
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15 Comments:

At 1:08 AM, July 13, 2008, Blogger Kel said...

James, I remember there are rules about how much salary can vary year-to-year in the CBA. Could you find out what the rules are? It seems very extreme to have a big jump from 4 to 1.5 million in the 2nd last year, which is more than 50% reduction. Thanks!

 
At 2:38 AM, July 13, 2008, Anonymous fingerfan14 said...

Did they include a NMC or NTC in the deal?

 
At 2:40 AM, July 13, 2008, Anonymous Anonymous said...

This what Sutter did with Kiprusoff's deal. Extending it another year just to get cap hit down even when all parties know that Kipper will not play that year.

Clearly this is a similiar case and it will be MO from now on (as long as the player involved is at this age).

Lightning owns this summer!!!

 
At 4:04 AM, July 13, 2008, Blogger saskhab said...

Idiot.

And not for not playing for Montreal, as you are probably thinking I'm bitching about. For believing in these bozos so much at this time. He obviously cares too much about the community and not enough about his personal gain.

And yes, I will be disappointed in him for that reason. He's a fool for love.

 
At 6:08 AM, July 13, 2008, Anonymous Ryan said...

Kel: in a single year, a salary can't decrease by more than 50% of the lower value of the first two years or increase by more than 100% of that value. In this case, the salary can't decrease by more than $5m or increase by more than $10m, so it's clear.

In negotiating the next CBA, could the league retroactively close this loophole? For instance, make it so the salary of any retiring player over 35 is still counted against the cap, regardless of when his contract was signed? If they could, would they?

 
At 6:50 AM, July 13, 2008, Blogger Baroque said...

Lightning owns this summer!!!

I'd rather that my team "own the postseason," but to each his own. :)

At least Lecavalier already has his Stanley Cup ring.

 
At 7:44 AM, July 13, 2008, Anonymous Anonymous said...

How does he get more money than the current Hart winner per year?!

When Ovechkin signed at 9/yr, I thought that would be the ceiling since he is still young and just won the Hart as the league's best player.

 
At 10:46 AM, July 13, 2008, Anonymous Anonymous said...

Ovechkin's new contract is over 9 million a year so Lecavalier doesn't make more.

What's next in The Lightning Summer Show?

Trade, UFA signing, offer sheet, hiring, firing...

Uups, almost forgot one fella. Seen Stamkos?

 
At 11:14 AM, July 13, 2008, Blogger DMG said...

Of Ovechkin's 13 year contract, seven years are at 9 million and six years are at 10 million. So, for now, Lecavalier makes more

 
At 1:48 PM, July 13, 2008, Anonymous Anonymous said...

"We're unbelievably stupid."

/fixed

 
At 2:09 PM, July 13, 2008, Anonymous Anonymous said...

I quess there's other players in the league that makes more than AO next year, too.

Briere, Gomez, Heatley...

Many deals are front loaded which is the case on paper with Vinny, too.

But considering his age and his deal's first seven (9.785 avg.) or eight (9M)years kind of proves that extra years were written there just for cap purposes.

If you ask Burkie he would love to tell you that Ovechkin's deal is all wrong and it happens to be Lowe's fault.

Lecavalier would have gotten this deal in old system, too, but A.O. would be at lower level. It's his second contract which used to be a hardball negotiation process.

At the same time we should thank Lowe because without this A.O. and Malkin would be playing in Russia.

 
At 7:28 PM, July 13, 2008, Blogger J. Michael Neal said...

The Lightning already has more than $28 million committed to seven players for the 2010-11 season. Am I the only one who thinks that that might be a problem?

 
At 9:54 PM, July 13, 2008, Anonymous Anonymous said...

Who remembers The Hockey News story about greatness of Jay Feaster?

According to The Bible of Hockey he changed the way GM's think in the new NHL.

Two years after that brilliant work of journalism Tampa was 30th and Feaster was fired.

I would think Ferguson, Waddell and some others are now worthy of same kind of piece.

 
At 10:45 PM, July 13, 2008, Anonymous torontobaymaplelightning said...

"The Lightning already has more than $28 million committed to seven players for the 2010-11 season. Am I the only one who thinks that that might be a problem?" Don't worry J. Michael they still have the whole season to give other players hilarious extensions that will surely not have dire effects in the future! Lecavalier makes more next year than their entire defense does this year and there is nothing wrong with that...

 
At 4:07 AM, July 14, 2008, Anonymous Ryan said...

"The Lightning already has more than $28 million committed to seven players for the 2010-11 season. Am I the only one who thinks that that might be a problem?"

Ignoring Adam Hall's $0.6m contract, they have $27.4m in cap space committed to six players that season. Just for comparison, once the Wings sign Zetterberg to an extension for around $7m a season, they'll have $29.5m committed to the same number of players in the same year. Tampa's problem is that only half their core is between 27-30 (compared to five for Detroit), and only one is a defenceman (three for Detroit).

 

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