Quote:
Originally Posted by bubbsy
i just read on the canuck forum that their is a very severe hit the canucks would take with regards to salary cap should he retire mid contract. Any truth to this (sorry haven't read through the 20+ pages of this thread).
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Basically, the Canucks' cap benefit on this contract is $8.5M. Consequently, if Luongo retires before the contract expires (the 2021 season), the Canucks will have a cap penalty of $8.5M total. That $8.5M will be spread out over the remaining years that Luongo WOULD have played if he had played out the end of his deal. So, the sooner he retires, the smaller the cap penalty, but the more years they have to deal with it. If he retires later, the penalty isn't around for as long, but it's a higher amount.
So, if he retires with 2 years left, they have a 4.25M cap anchor on them for 2 years. If with 1 year left, they have 8.5M in space locked up on them for that year. Those are the two worst scenarios. More likely, he'll retire a bit before that and it'll be something like 2.8M for three years or 2.1M for four.