• Custance: 5 fits for Lecavalier Insider
Tampa will have to pay Lecavalier $32.67 million in the buyout, a source told ESPN.com, which includes an $8 million bonus that had to be paid out in full. The remaining salary is paid out at two-thirds, $24.67 million over the next 14 years.
"Vinny has been a significant reason for many of our past successes, including the 2004 Stanley Cup, and his contributions to the community are immeasurable," Tampa general manager Steve Yzerman said in a statement. "The Lightning organization is indebted to Vinny; we thank him for all he has done here and we wish him well as he moves forward.
"After much internal deliberation, we believe this will prove to be a pivotal move for us as we strive to achieve our long term goal of competing at the highest level, year-in, year-out. The economics and structure of the CBA are necessitating this decision and we at the Lightning are excited at the newly created opportunities this presents to us."
As per the compliance buyout provision in the new NHL collective bargaining agreement, the Lightning will not incur any salary-cap charge for the move.
Lecavalier becomes an unrestricted free agent July 5. As per the CBA, he cannot rejoin the Lightning for at least one year.
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USA TODAY / USA taps David Poile, Dan Bylsma for Olympic roles
Kevin Allen, USA TODAY Sports 10:42 p.m. EDT June 27, 2013
USA Hockey is putting the band back together for the 2014 Olympics in Sochi, Russia, although the members will have a different place on the stage.
According to two people with knowledge of the decision, the Nashville Predators' David Poile will be the team's general manager, while Pittsburgh Penguins Ray Shero will be his associate general manager and Anaheim Ducks consultant Brian Burke will be the director of player development.
Penguins coach Dan Bylsma has been selected to be the USA's coach in Sochi.
The two people asked not to be identified because the official announcement will come Saturday in New York, the day before the NHL draft in Newark.
Burke was the general manager of the U.S. team when it won the silver medal at the 2010 Olympics in Vancouver, and Poile was his associate general manager. Shero was on the committee of team executives who helped Burke pick the team.
It was not an easy decision for the Americans to decide who was in charge. Traditionally, the Americans like to change up their leadership pool to give more people the opportunity to gain Olympic experience. But they also liked the job Burke did in Vancouver.
When Burke was fired as general manager of the Toronto Maple Leafs, it further complicated the decision because there is a perception, not a rule, that the American GM should be an NHL general manager.
The decision to include Burke in the ruling triumvirate could be viewed as a compromise, or USA Hockey's attempt to have the best of all worlds.
The Americans believed that the committee approach used by Burke in 2010 is a model that should be used again. That means that general managers such as Dale Tallon (Florida Panthers), Paul Holmgren (Philadelphia Flyers) and Dean Lombardi (Los Angeles Kings) will continue to play a role, plus Pittsburgh scout Don Waddell, a former league general manager.
USA Hockey senior director of hockey operations Jim Johannson also will have his usual involvement in the player selection process.
The league is meeting on Monday with international officials to work out the final details that would allow the NHL players to participate in the Olympics for a fifth time.
Bylsma was chosen over Philadelphia's Peter Laviolette and the Vancouver Canucks' John Tortorella. Laviolette had coached in 2006, and it was assumed that USA Hockey would give either Tortorella or Bylsma a chance.
Usually, the Americans appreciate international experience, and it appeared that Tortorella had an edge over Bylsma because he had previously been involved at the world championships and Olympics. Both Bylsma and Tortorella are Stanley Cup winners.
But Tortorella damaged his public image this season with hostile news conferences while with the New York Rangers and a cursing incident during an NBC interview. It had to make him a less attractive candidate. One reason why the NHL allows it players and coaches to go the Olympics is to help grow the game. Tortorella's behavior this season didn't help him.
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USA TODAY / Analyzing the Flames-Avalanche trade
Kevin Allen, USA TODAY Sports 9:23 p.m. EDT June 27, 2013
Analysis of the trade that sent forward David Jones and defenseman Shane O'Brien from the Colorado Avalanche to the Calgary Flames for forward Alex Tanguay and defenseman Cory Sarich:
Cap implications: Both O'Brien and Sarich are $2 million players, but O'Brien has an extra year. Tanguay is owed $3.5 million for each of the next three seasons while Jones has three more seasons at $4 million a season.
Why the Flames wanted the deal: The Flames needed size and toughness. Jones is 6-2, 210, and, at 28, he's five years younger than Tanguay. O'Brien is a rugged defender with a mean streak,
"O'Brien is a hard guy to play against, knows how to get under the skin of the opposition and stands up for his teammates," Calgary general manager Jay Feaster said. Jones has scored 20 or more goals twice in his career, but he scored three in 33 games this season.
Why the Avalanche wanted the deal: As vice president Joe Sakic and coach Patrick Roy make over this team, they need some cap flexibility and they pick up $500.000 in cap space in the Tanguay/Jones deal, and a full year in the O'Brien-Sarich exchange.
Plus Tanguay is a more proven offensive performer. He previously had played in Colorado and fans remember him fondly for his scoring. Both Sakic and Roy were teammates with him as they won a Stanley Cup in 2001. Sarich takes O'Brien's place on the defense.
Around the rinks
Anaheim Ducks defenseman Ben Lovejoy, acquired in midseason, received a three-year contract on Thursday. He will get annual salaries of $1 million, $1.1 million and $1.2 million for a cap hit of $1.1 million. The Ducks acquired him from the Pittsburgh Penguins and he tied second on the Ducks with 10 assists in 32 games. ... The Buffalo Sabres signed defenseman Mike Weber to a multi-year extension.
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USA TODAY / Lightning buying out Vincent Lecavalier
Kevin Allen and Mike Brehm, USA TODAY Sports 5:47 p.m. EDT June 27, 2013
On June 27, 1998, the Tampa Bay Lightning used their No. 1 overall pick to draft center Vincent Lecavalier to be their franchise player.
Exactly 15 years later, Lecavalier was sitting at the breakfast table with his kids when general manager Steve Yzerman called him to let him know that he was being bought out of the remainder of his 11-year, $85 million contract.
Lecavalier had heard rumors about his future since the new collective-bargaining allowed teams to use two compliance buyouts (not counting against the salary cap) to get under next season's lower $64.3 million figure, but wasn't sure until the call if it would really happen.
"When you get the phone call and you're told that you can't play for the Lightning, it's pretty rough on everybody," he said in a conference call.
He said he bore no ill will toward the Lightning, understanding that it was a business decision and the new CBA had put teams in a tough spot.
The compliance buyout period began at 11 p.m. ET Wednesday and ends at 5 p.m. ET on July 4. A short window exists in the summer of 2014 if teams want to exercise the option then instead.
The Philadelphia Flyers have already trimmed Ilya Bryzgalov and Danny Briere and the Montreal Canadiens rid themselves of Tomas Kaberle's contract. The champion Chicago Blackhawks said they'd buy out defenseman Steve Montador and center Rostislav Olesz if they pass through waivers.
MORE: Bryzgalov's agent rips coach
"After much internal deliberation, we believe this will prove to be a pivotal move for us as we strive to achieve our long-term goal of competing at the highest level, year-in, year-out," Lightning general manager Steve Yzerman said. "The economics and structure of the CBA are necessitating this decision and we at the Lightning are excited at the newly created opportunities this presents to us."
Lecavalier, 33, had a salary cap hit of $7.727 million. The Lightning will owe a little more than $32 million to end the deal that ran through 2019-20. They will pay that out through twice the remaining length of his contract - or 2026-27.
He was a member of the 2004 Lightning team that won the Stanley Cup and was taken first overall by Tampa Bay in the 1998 draft. Art Williams, the owner at the time, said he'd become the Michael Jordan of the NHL.
He did become a four-time All-Star and won the Rocket Richard Trophy in 2006-07 after a 52-goal season.
MORE: Who has been bought out
"Vinny has been a significant reason for many of our past successes, including the 2004 Stanley Cup, and his contributions to the community are immeasurable," Yzerman said. "The Lightning organization is indebted to Vinny; we thank him for all he has done here and we wish him well as he moves forward."
Given how many teams are looking for centers this summer, Lecavalier should not be out of work for long. The free agency period opens on July 5.
"The thought of wearing a different jersey is kind of weird," he said. "All the T-shirts when I work out in the morning is the Tampa Bay Lightning.
"It's a challenge, and I'm very, very motivated to be in top shape for when I get to training camp somewhere else."
Asked whether he is interested in any teams, he tossed out a couple names.
"If you just think about the Detroit Red Wings, it's actually a team I grew up idolizing. Them and Montreal were my favorite teams," the Quebec native said. "Ironically, Steve Yzerman was my favorite hockey player."
He will find it hard to leave Tampa but vowed to continue work with the charitable Vinny Lecavalier Foundation in the city.
"I made a pledge in 2006 and I'm a person of my word," he said. "Tampa is a home to me and I've spent most of my life in Tampa."
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YAHOO SPORTS / Busy season, busy summer: Get ready for NHL draft, more buyouts, trades, free agency, Coyotes decision...
Nicholas J. Cotsonika
What will the NHL look like next season? What will the NHL look like next week?
Vincent Lecavalier's buyout in Tampa Bay makes him a UFA when the market opens on July 5. (USA Today)We’ve already seen coaches switch cities, a controversial goalie trade and big-money buyout announcements. In addition to the finale of the Phoenix Coyotes fiasco and a deal for the 2014 Olympics, we could see more trades (Kris Letang?) and more buyouts (Brad Richards?) in the coming days. The draft is Sunday, and it’s supposed to be deep. The free-agent market opens next Friday, and it will be boosted by buyouts and big names – Vincent Lecavalier, Jarome Iginla, Jaromir Jagr, Danny Briere …
Thanks to the lockout, the schedule is scrunched. (Didn’t the Chicago Blackhawks just win the Stanley Cup?) Thanks to the new labor agreement, the salary cap is coming down. Teams will be assessed a cap penalty if players retire before the end of a long-term contract. They can buy out two players over the next two years. That’s why some are not bringing back free agents, looking to move players off their payroll and paying a few guys millions to go away.
But the root cause of all this craziness isn’t this lockout or this labor agreement. It’s the last lockout and the last labor agreement. After the NHL shut down the 2004-05 season, the cap was introduced, and the age for unrestricted free agency went from 31 to 27. The talent was spread throughout the league, and teams locked up their best players.
If anyone can win, everyone is expected to win – even though not everyone can and resources are limited. So teams change coaches when they can’t change players. They make trades when they don’t see a solution in free agency. They overpay in both markets when they don’t have better options. Same stuff as always, but more pressure than ever before.
“I think it’s going to be pretty busy,” said Jim Nill, the Dallas Stars’ new general manager, who has already hired a new coach in Lindy Ruff, traded for a pending free agent in Sergei Gonchar and signed the 39-year-old defenseman to a two-year, $10 million deal. “There’s less free agents available now. The difference between being a playoff team and being a non-playoff team is one or two wins. So there’s a real urgency to get better quickly.”
There is urgency to settle the Coyotes situation. The NHL has owned and operated the once-bankrupt franchise too long. After so many false starts, it has another buyer, and that buyer has drafted another lease agreement with the suburb of Glendale for the city-owned arena. But that buyer wants millions to operate the arena and puts a ton of risk on the city. It wants an out in the agreement after five years or $50 million in losses.
NHL commissioner Gary Bettman has long said stable ownership would allow Phoenix to reach its potential as a market, yet the owner wants outs in the lease deal? What kind of stability is that? If the owner won’t commit long-term, why would the fans commit? Isn’t this franchise still set up to fail?
Will the city council approve the lease when it meets Tuesday, because losing the team would be even worse than keeping it under awful terms? If not, will the league move the team in time for next season? Can it? When the Atlanta Thrashers moved in the summer of 2011, they started earlier, Winnipeg had an arena and organizational infrastructure in place, and the Jets still barely made takeoff. What a mess.
The Olympics seem like a foregone conclusion. The NHL will go to Sochi. It’s just a matter of finalizing everything. There’s a meeting on Monday.
As for the rest …
Philadelphia Flyers GM Paul Holmgren told reporters he thinks “there’s going to be a lot of funny things happening” at the draft, and if he thinks that, look out. This is the man who traded cornerstones Jeff Carter and Mike Richards at the draft two years ago partly to clear cap space to sign goaltender Ilya Bryzgalov, only to watch Carter and Richards win the Cup with the Los Angeles Kings last year, only to buy out Briere and Bryzgalov this year. “It’s a very competitive league,” he said, “and we’re all trying to do what the Blackhawks just did.”
The day of reckoning is coming for the Coyotes franchise. (USA Today) The cap is going from $70.2 million (pro-rated) to $64.3 million next season. No one knows what it will be in the future. Teams against the cap don’t have enough space, and teams in general don’t have enough certainty as they plan for the future. At the same time teams trim players, teams might have a hard time adding players. Moving money will go along with moving bodies.
“There seem to be a lot of teams that want to make changes,” said Toronto Maple Leafs GM Dave Nonis, who already has traded for goaltender Jonathan Bernier. “But it’s always a function of price. What does it cost to get somebody? This is the first time since we’ve had a cap that it’s come down, and that’s going to affect things, because your wants might be affected by your ability to take on those players.”
But the cap is expected to rise in future years, as it did in past years, because it is tied to league revenue. The league has bounced back well from the lockout, and revenue growth is projected to be strong. Nonis spoke from the perspective of a big-market, high-revenue, capped-out team. Listen to Steve Yzerman, the GM of the Tampa Bay Lightning. He said this last week even though the Bolts were about to buy out Lecavalier, their captain, a Cup champion and a community pillar, and they will spent more than $30 million to do it.
“There’s this assumption that all these teams have to get under the cap and have issues,” Yzerman said. “If you analyze every team, there aren’t that many. So I think there will be fewer than a lot of people anticipate. I don’t know. There will be a few. But we look at all of the other 29 teams, and we don’t see that many that are in desperate need to have to do something.”
In the end, it will come down to what it always does under any set of rules under any sort of circumstances: good management. The Detroit Red Wings were supposed to crumble in 2005-06, when their payroll was cut nearly in half by the new $39 million salary cap. They won the Cup in 2008, went back to the final in ’09 and still haven’t missed the playoffs. The Blackhawks lost half their team because of a cap crunch after winning the Cup in 2010; they kept their core, rebuilt their supporting cast and won the Cup again Monday night. Meanwhile, others have been up and down – or just down.
What will the NHL look like next season? What will the NHL look like next week?
There will be lots of new faces in lots of new places – maybe even a new franchise in a new place. But for all the angst of the lockout, all the efforts to protect the owners from themselves and level the ice surface, it will still be a league in which competitiveness clouds common sense, in which some markets and managers struggle, in which only the smart survive and the smartest thrive.
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