Crosby contract update/rumor?

[no name]

3. The assistant GM quoted above said this kind of extension for Crosby and what it means for Malkin would absolutely result in a new address for Jordan Staal, although not necessarily this season. "You can't have $22 million invested in one position, especially if the cap gets tighter."

i guess this is different somehow than having $21.4 million in one position when the cap was already tighter. oooook?

this news has nothing to do with staal's future with the club

I would think if we got Sid and Geno on 9 million dollar contracts it would strenghten Staals address in Pittsburgh? Maybe this Gm was asked this befor the cap was set to go up to 70 million?? Either way, its up to Jordan how this plays out, we have the money to sign him, its a question if he wants a bigger role or an outragouse ammount of money.

[Defence21]

3. The assistant GM quoted above said this kind of extension for Crosby and what it means for Malkin would absolutely result in a new address for Jordan Staal, although not necessarily this season. "You can't have $22 million invested in one position, especially if the cap gets tighter."

i guess this is different somehow than having $21.4 million in one position when the cap was already tighter. oooook?

this news has nothing to do with staal's future with the club

I would think if we got Sid and Geno on 9 million dollar contracts it would strenghten Staals address in Pittsburgh? Maybe this Gm was asked this befor the cap was set to go up to 70 million?? Either way, its up to Jordan how this plays out, we have the money to sign him, its a question if he wants a bigger role or an outragouse ammount of money.

The cap is set to go up ...for now. Don't forget the CBA is expired and the new CBA could have a cap rollback. Also keep in mind that, while the NHL has seen a steady cap increase since the lockout, it won't continue that way forever. At some point, the league revenues will plateau and in turn, the cap will stop growing.

[penny lane]

http://www.theprovince.com/business/Cro ... story.html

Tony Gallagher, The Province, has some interesting truths regarding Sid's next contract. And some opinions about Mario's 1993- 94' contract which are not going to get Gallagher a tour of Mario's wine cellar.

[Pavel Bure]

Someone has been holding an axe for years waiting for the chance to grind it.

[BurghersAndDogsSports]

http://www.theprovince.com/business/Crosby+about+shortchanged/6795769/story.html

Tony Gallagher, The Province, has some interesting truths regarding Sid's next contract. And some opinions about Mario's 1993- 94' contract which are not going to get Gallagher a tour of Mario's wine cellar. 8-)

the guy makes valid points and it's hard to argue some of the irony with Mario I guess. A pretty big difference is the salary cap. I am sure back in the day Mario would have taken less to keep that team together if there was a cap. Mario wasn't a big publicity/spokeperson guy and the players and league generally made less. This is where he made his money at the time.

Not too defend his having to be the top paid player or anything bu I just don't think it's straight apples to apples of a comparison.

Back to his Salary and the cap. getting him a t a discount is great and helps sign staal. The issue is if the cap comes down or levels off we are goin to have half of our cap tied up in 5 players, possibly 70 percent in 7 players. Just curious how that compares to the good teams across the league.

Food for thought anyways.

[Hockeynut!]

Has anyone ever heard that "I demand to be the highest paid played in the NHL by at least $1 Million" clause about Lemieux before? I've never heard that and the numbers don't back it up.
http://en.wikipedia.org/wiki/List_of_pl ... _by_season

[Kovy27]

Has anyone ever heard that "I demand to be the highest paid played in the NHL by at least $1 Million" clause about Lemieux before? I've never heard that and the numbers don't back it up.
http://en.wikipedia.org/wiki/List_of_pl ... _by_season

Tyler Myers and Brad Richards are going to be the highest paid players in the NHL next season (for now). What the hell was Buffalo thinking?

[mikey287]

Has anyone ever heard that "I demand to be the highest paid played in the NHL by at least $1 Million" clause about Lemieux before? I've never heard that and the numbers don't back it up.
http://en.wikipedia.org/wiki/List_of_pl ... _by_season

Tyler Myers and Brad Richards are going to be the highest paid players in the NHL next season (for now). What the hell was Buffalo thinking?

That having money all of a sudden will, all of a sudden, solve their years of mismanagement.

[Sarcastic]

Well, Myers' contract looks stupid for next year, but after that it's OK.

http://www.capgeek.com/players/display.php?id=728

I don't like Richards' even in 2016-17.

http://www.capgeek.com/players/display.php?id=690

[BurghersAndDogsSports]

Maybe I can be of some minor assistance in quelling some fears...

Basically the way it works currently, AIUI...each team has a small handful of contracts that they insure through a group (based out of Long Island, BWD? something like that), usually 5 or 7 or so. It's too expensive to insure all of the contracts a team has (~45-50). These contracts can be insured for up to 7 years. Insurance kicks in when a player misses 30 games.

Again, this is just what I've kind of pieced together through various places and from memory...but I believe I have the rough idea...

If a player is injured during an insured contract and cannot continue playing for his career. The team will continue to pay his contract out but will (likely) be aided by the insurance. If a player formally announces that he retires voluntarily (i.e. makes no mention of his inability to perform due to injury) the team is off the hook for the remainder of the salary. I believe (believe, not gospel) that the player will receive his total contract whether it is via insurance or the team paying his salary. The max a contract can be insured for (under the NHL group policy) is 7 years. After that, the team is solely responsible for any further payment. In terms of salary cap relevance, (mind you, this is current rules, there is a new CBA in the offing) Crosby would not count against the salary cap during the playing year in the event that he is placed on LTIR (long-term injured reserve). During the offseason, there is no injured reserve. He will count fully during the offseason. As per current rules, each team is allowed to exceed the Upper Limit by 10% during the offseason. However, they must return to a compliant state prior to their first game of the regular season.

Short version (based on current rules and 10 yr/$90 M contract)

- League has insurance policy for some, it covers up to 7 years
- Player will get his money, but team will be aided by insurance payments in fulfilling the obligation in the event of an injury
- Counts against the cap in the offseason regardless (unless voluntary retirement), will not count during the season when placed on LTIR

Informative post but I have 2 thoughts on this topic

1. Why would any insurance company insure a guy who missed this much time to injury especially to the head?

2. There is no way, even if Sid is on long term IR that the pens can replace his salary for too long. Understanding that ownership would on a deadline deal an risk a few millions based off of potential for a long cup run.....but if crosby is ltir for a season and there isn't much if any insurance we are basically out his cap space until the trade deadline.

Not a knock on the pens just probably what's going to happen. I would highly doubt they even bring in even half his salary for an entire season.

The cap space clears but they still have to pay the extra money.

[mikey287]

- They might not. Justin Williams can't have certain parts of him insured any longer because of his frequency of injury. Crosby's head may not be insurable, I don't know, I don't know insurance.

- Replacing Crosby would be impossible, but replacing his salary would be allowable - that's all. If the Penguins don't wish to utilize the LTIR provisions, that is their business. It's a tricky situation certainly.

[BurghersAndDogsSports]

- They might not. Justin Williams can't have certain parts of him insured any longer because of his frequency of injury. Crosby's head may not be insurable, I don't know, I don't know insurance.

- Replacing Crosby would be impossible, but replacing his salary would be allowable - that's all. If the Penguins don't wish to utilize the LTIR provisions, that is their business. It's a tricky situation certainly.

Yeah that's what I mean. If he were out for a year the pens won't be able to afford to replace him until the deadline most likely, even with his cap space available. Half our cap gone in 4 players will be tough.

[tfrizz]

- They might not. Justin Williams can't have certain parts of him insured any longer because of his frequency of injury. Crosby's head may not be insurable, I don't know, I don't know insurance.

- Replacing Crosby would be impossible, but replacing his salary would be allowable - that's all. If the Penguins don't wish to utilize the LTIR provisions, that is their business. It's a tricky situation certainly.

From what I read, Crosby needs to have a healthy season before he becomes insurable again. That could allow his new contract to be covered.

[mikey287]

Is there a link for that tfrizz? There's so few articles that even mention insurance, I'd love to have a peak if you have it handy, if not, no big deal...

[BurghersAndDogsSports]

- They might not. Justin Williams can't have certain parts of him insured any longer because of his frequency of injury. Crosby's head may not be insurable, I don't know, I don't know insurance.

- Replacing Crosby would be impossible, but replacing his salary would be allowable - that's all. If the Penguins don't wish to utilize the LTIR provisions, that is their business. It's a tricky situation certainly.

From what I read, Crosby needs to have a healthy season before he becomes insurable again. That could allow his new contract to be covered.

Makes sense. Even then It would be a question of how much can they insure.
its a topic that I haven't seen a ton on but is pretty important for a contract like his and a team like the pens who would be pushing their financial limits if they want to replace his salary.