CapGeek @capgeek
As long as Chris Pronger doesn't retire, #Flyers can receive LTI relief for his cap hit of nearly $5M until his contract expires.
CapGeek @capgeek
If he retires, however, the 35-plus rule dictates his contract counts in full against the #Flyers cap through 2017. http://www.capgeek.com" onclick="window.open(this.href);return false;
So, he can't retire until 2017? Did the Flyer's ask him not to retire? Not that it matters to Pronger, he still gets his money anyway. But, this is huge for the Flyers.
Sam's Drunk Dog wrote:Yep it's a loophole I'm sure the Flyers will take full advantage of.
rightfully. this isn't mike rathje - a guy that they were thrilled was never able to come back. if pronger's brain un-mushed itself tomorrow, they'd be handing him skates while doing cartwheels and opening bottles of champagne.
Its a grey area.. its pretty evident he's not coming back but there is really no way for him to retire but have the Flyers still be penalized with the cap hit.. But should they?? They would surely like to have him in their lineup and negotiated the deal in good faith that he would play, unknowing he would have a terrible injury.
However, IF he retired, would he 'get his money'? Or would they still be on the hook for the cap hit but not actually pay the dollars to him. I assumed players didnt get the remainder of their contract if they retired mid contract
Fire0nice228 wrote:However, IF he retired, would he 'get his money'? Or would they still be on the hook for the cap hit but not actually pay the dollars to him. I assumed players didnt get the remainder of their contract if they retired mid contract
Pretty certain over 35'ers get all their money due from the contract (at least under the "old" CBA).
I should have posted that for the next 2-3 years they really won't be exploiting the loophole but if he still isn't back by then, than that is a different story.
Hey could wait until the end of the season, the Flyers could buy him out for a lower cap hit and then he could retire. He should go out on his terms, not the Flyers.
Great hockey player. Every team needs a Chris Pronger....even the Flyers.
Kovy27 wrote:Hey could wait until the end of the season, the Flyers could buy him out for a lower cap hit and then he could retire. He should go out on his terms, not the Flyers.
For a team as wealthy as the Flyers I think they will keep paying him the cash, keep him on LTIR and avoid the cap hit.
The buyout cap hit is nowhere near as friendly as I thought it would be.
From Capgeek.com
Chris Pronger is 38 years old on the buyout date of June 15, 2013, setting the buyout ratio at 2/3 and the total buyout cost at $8,100,000 spread over 8 years. His contract was originally valued at $34,550,000 beginning in 2010 and ending in 2017, with $12,150,000 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.
Buyout Details
SEASON BUYOUT CAP HIT
2013-14 -$1,051,786
