Thursday, August 12, 2010

Luongos contract

A lot of people are suggesting that canucks might want to wiggle out of bobby lou's contract. I don't think that would be a good idea. Vancouver was lucky enough to get away with circumventing the CBA, and I hope they can keep bobby poo under this contract. Any other contract for luongo would be less in years but more in annual cap hit. If henrik lundqvist makes 7 million, kipper makes 6 million, huet makes 5 million, then luongo definitely deserves 5 million a season.

The contract sees luongo making 10 million his first year and tapering off to 1 milllion in his final two years, which brings the annual cap hit down to a reasonable 5 million. Bobby poo definitely does not deserve 10 million, but the owner of the canucks has very deep pockets and can afford to dish out the money as long as it doesn't hurt the canucks cap situation. Here are the annual cap hits for bobby poo:

10.000

6.716

6.714

6.714

6.714

6.714

6.714

6.714

3.382

1.618

1.000

1.000

This may look like a 12 year contract but it is not! Instead it is an 8 year contract where we buy out bobby poo in his final four years. So luongos cap hit is 5 million for the first eight years, taking him to martin brodeurs age. And then when we buy him out we have to put 500,000 against our cap for an additional 8 years. He only plays the first 8 years, but we are paying him against our cap for 16 years.

These type of contracts are bad for the nhl. And some teams are going to be screwed over if their players taper off. But I am happy to pay bobby poo 5 million for eight years. He definitely took a discount compared to what some other goalies are making. And you know there are probably some stupid gm's out there that would have offered him 8 mil. Paying 500,000 for an additional eight years is so marginal of a number that its meaningless.

-hark
Sent wirelessly from my BlackBerry device on the Bell network.
Envoyé sans fil par mon terminal mobile BlackBerry sur le réseau de Bell.

1 comment:

  1. That's interesting. I didn't know you have to extend the pay out like that after you buy someone out.

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