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Other Hockey News & Views => General NHL News & Views => Topic started by: herman on June 26, 2019, 02:05:47 PM

Title: Luongo announces his retirement
Post by: herman on June 26, 2019, 02:05:47 PM

Haha Vancouver
Title: Re: Luongo announces his retirement
Post by: CarltonTheBear on June 26, 2019, 02:15:38 PM
Genuinely surprised that he would do this with 3 years left on his contract instead of just LTIR'ing it like others have. If Hossa can get away with it because of a rash then Lu's hip problems definitely would have passed the smell test in that regard.

Now I guess we wait and see if the NHL actually sticks to their guns about the recapture penalty (and what exactly it will come out to be as some people have said the reported numbers out there aren't 100% accurate).
Title: Re: Luongo announces his retirement
Post by: bustaheims on June 26, 2019, 02:16:45 PM
Will be interesting to see if he actually files his retirement papers, or if he decides to let to Canucks off the hook, and pulls a Hossa and goes LTIR for the rest of his deal.-
Title: Re: Luongo announces his retirement
Post by: CarltonTheBear on June 26, 2019, 02:18:54 PM
Will be interesting to see if he actually files his retirement papers, or if he decides to let to Canucks off the hook, and pulls a Hossa and goes LTIR for the rest of his deal.-

https://www.nhl.com/panthers/news/luongos-open-letter-to-the-fans/c-308071408

I really don't think there's any turning away from the retirement option now.
Title: Re: Luongo announces his retirement
Post by: CarltonTheBear on June 26, 2019, 02:21:23 PM

This is something that I didn't actually consider I guess. As we've learned LTIR isn't an absolute perfect solution for many teams, especially cap teams, so this makes sense. Vancouver is the team that gets screwed more and obviously Florida doesn't care about their concerns.
Title: Re: Luongo announces his retirement
Post by: Nik Bethune on June 26, 2019, 02:23:23 PM
Genuinely surprised that he would do this with 3 years left on his contract instead of just LTIR'ing it like others have. If Hossa can get away with it because of a rash then Lu's hip problems definitely would have passed the smell test in that regard.

In a way, but also he's made 90+ million already so I'm not that surprised he'd not want to have the legitimacy of his decision questioned for a couple million more.
Title: Re: Luongo announces his retirement
Post by: CarltonTheBear on June 26, 2019, 02:35:55 PM
In a way, but also he's made 90+ million already so I'm not that surprised he'd not want to have the legitimacy of his decision questioned for a couple million more.

It wasn't so much the money issue (although forfeiting over $3mil is never easy I'd imagine) but that I didn't think Luongo would want to put his team on the hook for the cap recapture penalty. But like I posted above it sounds like he had Florida's blessing.
Title: Re: Luongo announces his retirement
Post by: Deebo on June 26, 2019, 02:37:38 PM

This is something that I didn't actually consider I guess. As we've learned LTIR isn't an absolute perfect solution for many teams, especially cap teams, so this makes sense. Vancouver is the team that gets screwed more and obviously Florida doesn't care about their concerns.

Vancouver is actually lucky it happened this year, if it happened two years from now, it would have been something like 9M in that year.
Title: Re: Luongo announces his retirement
Post by: Zee on June 26, 2019, 02:38:21 PM
Hey hey, Canucks hit with $3.8M for 3 years for Luongo.  800k in retained salary and just over $3M for the cap recapture.  Me like!

https://www.capfriendly.com/teams/canucks


Edit: looks like they updated it now and it's only recapture..I guess it wipes out the retained salary.  They originally had both:

(https://i.imgur.com/Aee6fYg.jpg)
Title: Re: Luongo announces his retirement
Post by: CarltonTheBear on June 26, 2019, 02:41:53 PM
Vancouver is actually lucky it happened this year, if it happened two years from now, it would have been something like 9M in that year.

I so badly want to see one of these mega cap recapture penalties to happen one day, just to see how a team will respond/if they'll try to fight it. I know Weber's is REALLY bad for Nashville, especially if he retires with only 1 year left on his contract. Would he really care about their cap situation considering they traded him away?
Title: Re: Luongo announces his retirement
Post by: herman on June 26, 2019, 03:03:18 PM
Cap implication conversation aside, Luongo was a great goalie, and by all accounts a wonderful person. I hope he can enjoy his retirement with reasonably good health.
Title: Re: Luongo announces his retirement
Post by: Bates on June 26, 2019, 03:15:00 PM
Great goalie, seems like a great guy. Enjoy your retirement Lou and I hope he stays on Twitter.
Title: Re: Luongo announces his retirement
Post by: Nik Bethune on June 26, 2019, 03:18:22 PM
Cap implication conversation aside, Luongo was a great goalie, and by all accounts a wonderful person. I hope he can enjoy his retirement with reasonably good health.

Yup. He got some unfair heat for the Parise goal in '10 but he's a surefire HOFer in my book and was a big part of some of the better Team Canada's ever.
Title: Re: Luongo announces his retirement
Post by: cabber24 on June 26, 2019, 03:40:30 PM
Great goalie, glad he's got that Olympic gold in his back pocket so no one can say he didn't win anything. Wonderful guy, remembering when addressed Florida shooting victims in such an articulate way.

Was this recapture rule put in place before or after he signed the contract?
Title: Re: Luongo announces his retirement
Post by: Guilt Trip on June 26, 2019, 03:45:29 PM
Great goalie, glad he's got that Olympic gold in his back pocket so no one can say he didn't win anything. Wonderful guy, remembering when addressed Florida shooting victims in such an articulate way.

Was this recapture rule put in place before or after he signed the contract?

My understanding is after which is really stupid when you thing about it. Contract was signed in good faith and under the rules. NHL introduces new rules in cba after, that effect contracts signed under old cba.
Title: Re: Luongo announces his retirement
Post by: Zee on June 26, 2019, 03:45:52 PM
Good guy, great goalie, but the few years he was affiliated with the Canucks made him more annoying by association.  He is way more likable off that team.
Title: Re: Luongo announces his retirement
Post by: CarltonTheBear on June 26, 2019, 04:05:18 PM
My understanding is after which is really stupid when you thing about it. Contract was signed in good faith and under the rules. NHL introduces new rules in cba after, that effect contracts signed under old cba.

The contracts were legal at the time but I'd have a hard time saying they were signed in good faith. It's no coincidence that virtually all of them have essentially ended exactly at the time the tacked on cheap years kicked in. It was a form of cap circumvention that the league foolishly didn't see coming. I do agree that penalizing teams after the fact is dumb though.
Title: Re: Luongo announces his retirement
Post by: Nik Bethune on June 26, 2019, 04:23:43 PM
The contracts were legal at the time but I'd have a hard time saying they were signed in good faith. It's no coincidence that virtually all of them have essentially ended exactly at the time the tacked on cheap years kicked in. It was a form of cap circumvention that the league foolishly didn't see coming. I do agree that penalizing teams after the fact is dumb though.

They were signed in good faith between the players and the teams. Doing things that live up to the letter of a CBA but are designed to give your team an advantage is basically just modern pro sports GM'ing. There was really nothing "bad faith" about those deals that couldn't be said of the recent signing bonus boom.
Title: Re: Luongo announces his retirement
Post by: caveman on June 26, 2019, 04:32:18 PM
The contracts were legal at the time but I'd have a hard time saying they were signed in good faith. It's no coincidence that virtually all of them have essentially ended exactly at the time the tacked on cheap years kicked in. It was a form of cap circumvention that the league foolishly didn't see coming. I do agree that penalizing teams after the fact is dumb though.

They were signed in good faith between the players and the teams. Doing things that live up to the letter of a CBA but are designed to give your team an advantage is basically just modern pro sports GM'ing. There was really nothing "bad faith" about those deals that couldn't be said of the recent signing bonus boom.

Exactly..good faith refers to the dealings between employer and employee...in this case the governing body needs to amend the rules to avoid the situation going forward...the salary cap sucks...bring on the soft cap with a luxury tax...
Title: Re: Luongo announces his retirement
Post by: CarltonTheBear on June 26, 2019, 05:32:08 PM
The contracts were legal at the time but I'd have a hard time saying they were signed in good faith. It's no coincidence that virtually all of them have essentially ended exactly at the time the tacked on cheap years kicked in. It was a form of cap circumvention that the league foolishly didn't see coming. I do agree that penalizing teams after the fact is dumb though.

They were signed in good faith between the players and the teams. Doing things that live up to the letter of a CBA but are designed to give your team an advantage is basically just modern pro sports GM'ing. There was really nothing "bad faith" about those deals that couldn't be said of the recent signing bonus boom.

I don't really think excessive signing bonuses are comparable to adding multiple years to a contract that neither the team nor the player really intended to have played out.
Title: Re: Luongo announces his retirement
Post by: Frank E on June 26, 2019, 05:33:59 PM
I have to think that Luongo has an offer from Sportsnet or TSN, like today.
Title: Re: Luongo announces his retirement
Post by: Nik Bethune on June 26, 2019, 05:39:36 PM
I don't really think excessive signing bonuses are comparable to adding multiple years to a contract that neither the team nor the player really intended to have played out.

It's comparable in as much as its teams looking at the rules of the CBA and trying to figure out how to give themselves an advantage within those confines.
Title: Re: Luongo announces his retirement
Post by: Guilt Trip on June 26, 2019, 06:42:42 PM
I have to think that Luongo has an offer from Sportsnet or TSN, like today.
Word is he's getting a front office job with the Panthers but he would be great.
Title: Re: Luongo announces his retirement
Post by: Peter D. on June 27, 2019, 01:14:43 PM
I have to think that Luongo has an offer from Sportsnet or TSN, like today.

As much as I'd love for that to happen, sounds like he and his family are quite content on settling in Florida for the rest of their lives.

Great goalie.  Was hoping he finished the deal in 2011.