07-01-2014, 07:21 PM
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#14
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Some kinda newsbreaker!
Join Date: May 2004
Location: Learning Phaneufs skating style
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Quote:
Originally Posted by Fire
Why is Chara's cap hit 4 million for his final season?
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http://capgeek.com/faq/what-s-the-ilya-kovalchuk-rule
Quote:
WHAT'S THE ILYA KOVALCHUK RULE?
Any long-term contract — five years or more — that extends beyond the age of 40 (as of June 30 prior to the season in question) will have its traditional cap hit adjusted.
ADJUSTMENT A
For years of the contract up to and including the age of 40, the cap hit is calculated by dividing the total salary for those years by the number of years up to and including the 40-year-old season. For years of the contract ages 41 and beyond, the cap hit in each year is equal to the actual salary paid for that season.
Example: Zdeno Chara signed a seven-year, $45.5-million deal starting in 2011 (age 34) and running through 2018 (age 41). Because he earns a $4 million salary at age 41, his 2017-18 cap hit is $4 million. For all other seasons, his cap hit is $6,916,667, with his $41.5 million in remaining salary divided over six years.
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