Originally written on The Bay Cave  |  Last updated 6/27/13

The Tampa Bay Lightning announced, through their media release, they will use a compliance buy-out, as allowed by the NHL’s Collective Bargaining Agreement, on center Vincent Lecavalier, vice president and general manager Steve Yzerman announced today. Lecavalier becomes an unrestricted free agent on July 5, eligible to sign with any team in the NHL, except Tampa Bay. The Lightning will pay Lecavalier two-thirds of the value of his existing contract over twice the term of the deal. “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,” said Yzerman upon announcing the buyout. “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.” Lecavalier was a first overall selection by the Lightning in the 1998 NHL Entry Draft.  He is the Tampa Bay’s all-time leader for games played with 1,037, goals with 383, power play goals with 112 and game-winning goals with 60.  Lecavalier played 14 seasons in Tampa Bay, posting 12 consecutive seasons with 20 goals or more, four NHL All-Star appearances and a Maurice “Rocket” Richard Trophy as the league’s leading goal-scorer (52 in 2006-07). He served as an alternate captain in 2004 when the Lightning won the franchise’s first and only Stanley Cup.  The NHL also recognized Lecavalier for his community contributions with the King Clancy Memorial Trophy and the NHL Foundation Player Award in 2008.  He formed the Vinny Lecavalier Foundation in 2003, eventually opening the Vincent Lecavalier Pediatric Cancer and Blood Disorder Center at All Children’s Hospital in St. Petersburg in 2010. On Tuesday, TheBayCave.com looked into the possibility of Lecavalier being a candidate for a contract buyout. Via CapGeek.com, the Bolts will project a cap hit just over $2 million average over the next 14 years.

GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Report: Brady authorizes NFLPA to appeal his case in court

NFL, NFLPA reduce Le'Veon Bell suspension

Tim Brown: Cardinals new coach Jen Welter is 'tough as nails'

NFL seeks federal court ruling to confirm Brady’s suspension

Royals reportedly acquire Ben Zobrist from Athletics

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Dallas Cowboys officially release RB Ryan Williams

Hulk Hogan reportedly used homophobic slurs, too

Pettine on Browns GM: We're singing from the same hymnal

Reports: Troy Tulowitzki had no idea he was being traded

Dolphins sign Josh Freeman just four days after cutting him

Teammate: Victor Cruz looks faster now than ever before

Penguins trade Brandon Sutter to the Canucks

Ronda Rousey willing to fight Miesha Tate a third time

Mexico fires head coach for alleged airport brawl following Gold Cup win

Jameis Winston: Back at a good weight heading into camp

Shaq on Scottie Pippen beef: 'I don't let bums disrespect me'

Five NFL players who will take a step back in 2015

Jets won't hesitate to bench Geno Smith if he struggles

Jonathan Papelbon will be traded … somewhere

Six players poised for big year after season-ending injuries

‘Mystery pooper’ torments golf course by defecating in holes

Gyllenhaal’s parents made him turn down ‘Mighty Ducks’ role

Eli, Romo channel Rob Lowe in new DirecTV commercials

NHL News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

NFL upholds Tom Brady's suspension, legal battle likely

Cardinals hire first female NFL coach

Larry Bird: Michael Jordan would kill me in 1-on-1 now

Seau family: HOF broke their word

Kobe to see time at power forward next year

Mike Pettine not ruling out Manziel

Galette appears to unload on Payton

Dez Bryant in 'financial distress' before signing new deal

Top 10 CFB coaches on the hot seat

Was Popovich close to retiring last year?

Kyle Busch continues historic run with Brickyard win

WATCH: Mike Trout HR lands in 'Trout Net'

Today's Best Stuff
For Publishers
Company Info
Help
Follow Yardbarker