Blog Entry

Report: GMs asking for amnesty clause in CBA

Posted on: February 12, 2012 5:23 pm
Edited on: February 12, 2012 5:30 pm
 
Gomez has a cap hit of $7.3 million per season. (Getty Images)

By Brian Stubits

One of the factors that made Scott Gomez's year-long goal-scoring drought so interesting was his gargantuan contract that carries a cap hit of $7.3 million. Usually a player making that much money scores at least one goal in a span of 365 days (healthy, no less).

That kind of albatross against the Canadiens' cap space has had fans in Montreal dreaming -- or praying? -- for an amnesty clause. Oh if they could just buy out his contract sans a cap hit.

With CBA negotiations on the horizon, though, hope is renewing for Habs fans and others around the league staring at that glaring contract on their roster.

According to Bruce Garrioch, that could be a possibility in the next CBA.

While it’s a long way from being reality because there’s a negotiation for a CBA ahead, sources say several GMs have asked the NHL to consider a one-time amnesty clause in the next agreement to buy out one contract that wouldn’t have a cap hit.

Maybe those prayers are paying off. First Gomez finally scored and now the possibility of an amnesty clause? Things might finally be looking up in Montreal.

More specifically to the Canadiens' situation, Garrioch further explains how big it could be for them.

“The amnesty clause would be a one-time buyout only,” said a league source. “It would allow the team to get rid of one contract without having to take the buyout amount on their cap.”

With $10 million in actual cash left on Gomez’ deal, the Habs would have to buy him out at two-thirds of the contract, which is about $6.67 million. That would be four payments of about $1.67 million per year.

According to capgeek.com, Gomez’ cap hit would be $3.5 million (2012-13), $4.5 million (2013-14), $1.6 million (2014-15) and $1.6 million (2015-16).

Who else would be a candidate to be amnestied? Specifically, if you could have any player from your favorite team amnestied, who would it be?

More from Eye on Hockey

Gomez finally ends his goal drought

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Comments

Since: Apr 16, 2008
Posted on: February 12, 2012 6:36 pm
 

Report: GMs asking for amnesty clause in CBA

I'm not incredibly good with the inner-workings of contract buyouts and the CBA, but those figures are what Cap Geek come up with, and that site is good with that information.

Here is a link to the Gomez buyout:

This is the description the site gives for the buyout:

is 32 years old on the buyout date of June 15, 2012, setting the buyout ratio at 2/3 and the total buyout cost at $6,666,667 spread over 4 years. His contract was originally valued at $51,500,000 beginning in 2007 and ending in 2014, with $10,000,000 remaining from the buyout year forward. The following is a season-by-season breakdown of the buyout. A negative buyout cap hit indicates a credit.




Since: Sep 5, 2006
Posted on: February 12, 2012 6:27 pm
 

Report: GMs asking for amnesty clause in CBA

Brian

Great inside peek. Thanks.

Question though on process - why 4 payments? Seems the advantage is extreme. Player gets turfed for non-performance (I so get that), why should payment be 4 X? Legally, this is a source of confuddlement. If anything happened to him physically by playing on another team (or league), they would have to still pay?

Circular reasoning? 


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