Ottawa Under Pressure?

With the signing of Kovalev, Ottawa finds itself under pressure to accommodate his 5M salary into the mandated salary cap ceiling.

This can be done in a few ways.

1. Re-assign players to the AHL – A number of players on the roster do not have to clear waivers in order to be assigned to Bingo. Moving these players there removes their salaries from the cap.  These players include – Bass, Foligno, Lee, Picard.

Obviously, doing this decreases the number of available players on the roster (similar to the situation Calgary found itself in at the end of last season).  It also eliminates some players otherwise expected to play contributing roles on this team.

2. Waive Players – With the exception of the above players, all others, without NMC’s, can be waived.  Once these players clear waivers, or are claimed, their salaries come off of the cap.  The two most likely for this would be Schubert, Auld, and Smith.

The biggest issue is their salaries.  None of these players have 2-way deals, meaning the Sens would still be on the hook for paying their full salaries, even if they play in the AHL.

Should they clear waivers, but then subsequently be recalled, should they be “claimed” off of recall waivers, the Sens would then be responsible for paying 1/2 of their salary for the remainder of that season.

3. LTIR – Long Term Injury Reserve.  Players qualifying for this status, are not included on the cap for the period they remain in this status.  As soon as they come off of the list, their remaining salary is tagged back onto the salary cap.  This most effects Smith, who ended last season on the LTIR, and may remain on this list…but this remains unclear.

4. Retirement of an SPC – If a player sign a SPC, prior to his 35th birthday, and subsequently retires, his salary is removed from the salary cap commitment for the remainder of it’s term.

Should a player sign a multi-year deal on, or after his 35th (Alfredsson, Kovalev) birthday, and subsequently retires, his salary commitment remains on the cap, even though not being paid.

5. Buy-out – There is a “standard buy-out” period contained within the 2005 CBA.  This period has already expired.  In order to now buy out contracts, the club must have a player filed to go to RFA arbitration.  The Sens do not, thus, they no longer have the right to buy-out contracts.

6. Trade – The Sens can reduce salary by trading it from the team, and not receive in return salary commitment matching or exceeding that which was traded from the team.

To the best of my knowledge, that’s it.



3 Responses to “Ottawa Under Pressure?”

  1. Big time log jam for BM to figure out.

    Potential 1st line (Heatley, Spezza, Alfie, Kovalev)
    Potential 2nd line (Foligno, Fisher, Shannon)
    Potential 3rd line (Kelly, Winchester, Donnovan)
    Potential 4th line (Ruutu, Neil, X)

    Forwards that are NHL ready are Regin, Bass, and potentially Schubert.

    With the 4 1st line players, the roster is full and there’s zero room for a rookie (Regin/Bass) this year. I’m sure Zubov is not impressed…

    Making matters worse is that if the Edmonton trade does happen, BM will get 2 forwards in replacement for the one forward heading there.

    Regardless of cap, it looks like BM will have to make a couple of moves just to make roster room. I wonder if he’s starting to regret the Neil signing? Either way it should be interesting…

  2. Auld was move 1, that’s free’s up 1M.
    As for Neil, he is a “character” signing, his role was going to have to be replaced. Sure, Bass could have been an option, but it would have been a step down from Neil.
    I postulated earlier that Murray may well be looking for more in the quality and quantity of prospects, than quality forwards, in any deal for Heatley.
    Penner, plus a bevy of young talent would be a sound return at this point.

  3. Master of Puppets Says:

    Aulds trade doesn’t free up 1M – some or all will have to go to Elliott. If its a qualifying offer, it’ll be something like 5 or 10% higher than what he made last year. Given Jimmy Howard is at 750K w/Detroit I’d guess Elliott to wind up around 850K for 1 yr, unless they’re working out a longer deal. Either way the cap savings are minimal, but every dollar counts …

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