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Compliance Buyouts next year in the NHL?
Does anyone know if there is anything in the new CBA to prevent a team from buying out one of these onerous contracts and then resigning him themselves.
Take the Blackhawks and Hossa as an example. Hossa had a severely front loaded contract that runs to 2021. 3 yrs after this year at 7.9M, one at $4M and then $4 at 1 million. If Hossa retires before the end of that contract Chicago will be hit with a cap recapture for the benefit they rec'd in the early years when salary exceeded cap hit. If he retires at the end of 2017 the hawks will have a $5.5 M cap hit through 2021.
Is there anything to prevent the hawks from buying him out at the end of this year, Hossa will $21M of the remaining 31.7 he is owed. Then the Hawks resign him to a 4 year contract at say $3M per season. Hossa will get $33M total (21m plus 12m on the new contract) but only have to play 4 yrs. for an extra $1 million hawks remove the risk of retirement on the back end an reduce Hossas cap hit from its current $5.27M to $ 3M.
Seems to good to be true, it must be?
Thank's Tom, I knew it had to be in there somewhere as there was too much room for manipulation.
That said, is that risk too big a risk to carry for the Hawks, does Hossa get bought out anyway given his age or do they go the Philly/Pronger route and he will get concussed for those last 4 years?
1 Answer
- tomjc43Lv 78 years agoFavorite Answer
Players bought out under compliance buy out are not allowed to sign with the team during that year.
I have attached an excerpt from the Proposed CBA synopsis is attached herewith
A Player that has been bought out under these Compliance Buy-Out provisions shall be prohibited from re-joining the Club that bought him out (via re-signing, Assignment, Waiver claim or otherwise) for the duration of the 2013/14 League Year (if the Player was bought out in 2013) and the 2014/15 League Year (if the Player was bought out in 2014).