Frank Seravalli @frank_seravalli
Expectation is Mike Smith will be in neighbourhood of $2 million base salary with potential to earn up to $2 million more in performance bonuses on a one-year deal with #Oilers, to be announced tomorrow.
do the performance bonuses still count against the cap? i thought someone had mentioned that they do... i wonder what the bonuses are like (ie likely or unlikely to achieve)...
if its 4 million cap hit, that's a bad deal imo... Smith was better later in the year, but he's a guy that needs starter's minutes. He's not a guy that has done well as a true backup so far into his career.
So does the bonus portion have to be allocated under this years cap?
It doesn't have to be.
There is a bonus cushion of 7.5% of the salary cap that teams are allowed to use during season.
If by the end of the season the performance bonuses plus whatever the team spent against the salary cap exceed the salary cap, the excess is rolled over and charged against next season's number.
So for example, the Oilers could spend to the salary cap this season and if Mike Smith hits all his performance bonuses, they will be charged with a $2 million bonus overage for 20/21
Last edited by sureLoss; 06-30-2019 at 03:08 PM.
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Originally Posted by sureLoss
It doesn't have to be.
There is a bonus cushion of 7.5% of the salary cap that teams are allowed to use during season.
If by the end of the season the performance bonuses plus whatever the team spent against the salary cap exceed the salary cap, the excess is rolled over and charged against next season's number.
So for example, the Oilers could spend to the salary cap this season and if Mike Smith hits all his performance bonuses, they will be charged with a $2 million bonus overage for 20/21
Yeah thats what i thought..so this is a 2M cap hit for this season.
Fascinating. Don't think I've ever gone from "like" to "dislike" on a player as much as I have with Smith. Guess it's back to dislike, but he gave us some good memories here in Calgary. He'll always be the guy who broke the Honda Centre curse
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This sucks. It was time for the team to move on. But I was hoping he'd go elsewhere instead of directly to the enemy. But hard to fault him for going there when he got offered pretty decent money.
Fascinating. Don't think I've ever gone from "like" to "dislike" on a player as much as I have with Smith. Guess it's back to dislike, but he gave us some good memories here in Calgary. He'll always be the guy who broke the Honda Centre curse
Smith will still give us some good memories going forward.
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