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July 12, 2007

Comments

TJ 516

I personally think these were two key signings, but I would've personally liked to open up the cap space for a defender.

thedirtyboy

Let me ask you a question. If Shanahan's ridiculous incentives don't count against the cap, then why didn't they riddle Lundqvist's contract with easily achievable breakpoints too?

Example: Henrik Lundqvist gets a guaranteed $2M this year.
Incentives:
He gets $2.25M in bonuses after making his first 5 saves
He gets $1M in bonuses everytime he appears in people magazine
He gets $5M in bonuses everytime he picks a fight with a 15 year old girl who is trying to clear snow from his crease.
He gets $3.5M in bonuses everytime he references his band and refers to himself as a musician.

I should be an agent! I just made this guy $13.75M this year while only counting $2M against the Rangers' cap! Rabbi, is this Kosher????

MOSS

I happen to think that Shanny's contract is acceptable, as a $2.5M base salary is justified, no matter what the incentives will bring his total to. The bottom line is the cap hit, & that will only be $2.5M. As far as Lundqvist, I'm not quite sure as to why Sather agreed to such a large base salary, given the fact that come January 1, 2008 at 12:01 AM, Lundqvist & the Rangers will anounce a long term deal for probably $6m/ year.

The Hockey Rabbi

TJ516: Thank's for the feed back and welcome to the site! I agree, both signings were essential. I too would like to see the Rangers bring in a d-man. I don't think freeing up cap space is as much of an issue as people think.. The Rangers can afford to bury undesireables in Hartford (juat ask kasparitis!) The question is, who is available and at what cost?

thedirtyboy: yeah it's kosher. players over 35 years old can be signed to incentive laden contracts where cap hit on the bonuses will be deferred to the following year if necessary (i.e. if the team is maxed out this year and has no room to apply the bonus to this years cap. I didn't know the isles' dirtygirls were just 15. Maybe that's why Sanjay is in jail?!?!?

Moss: Shanny got too much. WHatever he earns WILL count against the cap. The only question is will the bonuses count against this years cap or next years. But ulitimately his full earned salary will count as a cap hit.

MOSS

Thanks for the info Rabbi, I was not aware of the cap hit applied by incentives. If this is the case, why have incentives at all? why not just give him $4M? Please advise.....

The Hockey Rabbi

MOSS:

The CBA allows this for exactly the situation the Rangers find themselves in this season:

They can't afford to resign shanny for a base salary of $4-4.5m. This "loophole" allows the Rangers to defer the cap hit on his bonuses until next season (if necessary). The Rangers expect to be in a better cap position next season when all of their veteran d-men will be UFA's. Additionally, Straka and Shanny will also be UFA's after this season. Therefore, the Rangers feel that even if they can't absorb the extra cap hit this season, they'll make it fit in 08-09.

I'm not crazy about this gamble for the following reason: Presumably, the Rangers will be contenders in 08-09 as well. Which means that even though a lot of contracts will be expiring, management will want to replace them with top level talent in order to compete for the cup again. Which means that in all likelihood the Rangers will be close to the cap limit in 08-09 as well. Why would they want to loose up to $3.3m in cap space for the 08-09 season on a contract from a previos year? The potential problem gets even more troublesome if the cap is lowered for the 08-09 season.

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