Found June 25, 2013 on The Bay Cave:
Nhl_live_westerneastern_c282

Vincent Lecavalier is second in team history with 874 points and 491 assists. He’s first all-time with 383 goals. He is also the franchise leader in games played with 1,037 games. But the long time Lightning captain and fan favorite may not get the opportunity to increase those numbers if the team buys out his contract. The NHL buyout period begins Wednesday night and it is an option given to teams who want to raise their salary cap space without any major salary cap consequences like they would incur if they just simply released a player. Lecavalier’s contract calls for a $7+ million cap hit through 2020 and has $45 million salary remaining. To buy his contract out, the Lightning will have to pay $30 million if that decision was made Thursday, which is then spread out through 14 years. Thanks to the folks at CapGeek.com, they have created a calculator to calculate a player’s buyout and we can see below how much it will cost the Lightning to buy out Lecavalier’s contract. The negative amount indicates a credit to the team’s cap numbers. Vincent Lecavalier buyout from CapGeek.com 2013-14: -$129,870 2014-15: -$129,870 2015-16: -$129,870 2016-17: $1,370,130 2017-18: $5,870,130 2018-19: $8,370,130 2019-20: $8,870,130 2020-21: $2,142,857 2021-22: $2,142,857 2022-23: $2,142,857 2023-24: $2,142,857 2024-25: $2,142,857 2025-26: $2,142,857 2026-27: $2,142,857 As you can see, the team will average just over $2 million per season for the next 14 years if they in fact buy out his contract. A lot less than having to pay over $7 million per season for the next seven seasons. But do the Lightning make that move? At 33 years old, Vinny Lecavalier is still an asset to the team so it’ll be a tough decision. If they do, he becomes an unrestricted free agent and he — nor any other player who gets bought out — can re-sign with his former team for one year. And you better believe teams will be after his services if he does hit the open market.

THE BACKYARD
BEST OF MAXIM
AROUND THE WEB
RELATED ARTICLES
END OF AN ERA

Lightning buying out Vincent Lecavalier

After spending 15 years in the Tampa Bay Lightning organization, the former #1 overall pick now finds himself looking for a new place to work.

Vincent Lecavalier Should Move to Top of Detroit Red Wings’ Wish List After Buyout

Vinny Lecavalier could be the missing piece up front for the Red Wings. The Tampa Bay Lightning announced Thursday that they will use a compliance buyout on center and captain Vincent Lecavalier, who has been with the franchise since being taken No. 1 in the 1998 draft. The move, once it becomes official (Lecavalier must pass through waivers to be bought out), could be just the break...

Report: Leafs were going to buyout Lecavalier for the Lightning

According to reports, the Toronto Maple Leafs and Tampa Bay Lightning tried to make a loophole trade involving Vincent Lecavalier. The Lightning were going to trade Lecavalier and possibily a prospect or draft pick to the Toronto Maple Leafs. The Leafs, one of the richer teams in the NHL, would then use their compliance buyout on Lecavalier who still has seven years and $45 million...

Lightning will use compliance buyout on Vincent Lecavalier

Via Tampa Bay Lightning press release TAMPA BAY The Tampa Bay Lightning will use a compliance buy-out, as allowed by the NHLs 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...

Talking Ryan Malone, Vinny Lecavalier Buyouts

from Damian Cristodero of Lightning Strikes, Malone and Lecavalier's agent, Kent Hughes, said on Tuesday that they had not heard anything from the team regarding a buyout. But Hughes said, "We understand it's something they might be contemplating. It would be natural to do so." Added Malone: "It occupies zero of my thoughts. I have no control over...

Lightning to Buy Out Vincent Lecavalier’s Contract

Vincent Lecavalier may be the captain of the Tampa Bay Lightning. However, he was set to come with a $7.27 million salary cap hit through the 2019-20 season. For a team that’s already close to the 2013-14 salary cap, the Bolts had to do something. That something, apparently, is to buy out Lecavalier’s contract. RDS’ Renaud Lavoie was the first to report Thursday morning that...

Will Wings Have Interest In Lecavalier?

Ansar Khan of Mlive is correct when he states the Wings may need a 2nd line center... The NHL's shallow free-agent pool just got a little deeper, as the Tampa Bay Lightning announced today that they will use a compliance buyout on center Vincent Lecavalier. Lecavalier will become an unrestricted free agent on July 5, eligible to sign with any team except the Lightning...

Lightning Sever Ties With Captain Vincent Lecavalier by   Steven Ellis

The Tampa Bay Lightning have parted ways with team Captain and Center Vinny Lecavalier, using a compliance buyout on the long time Bolts forward. 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 and goals with 383. Earlier this month, the New York Post reported [...]

Michael Stuart: Introducing the Tampa Bay Lightning's Blogger Roundtable

The Tampa Bay Lightning has asked me to be a part of the organization’s Blogger Roundtable. This new feature, which has a number of independent writers weigh in on issues surrounding the team, will be a weekly column on the team’s website. I can't begin to express how thrilled and honored I am to be HockeyBuzz’s representative on the panel. Below is my response...

Michael Stuart: Lightning Blogger Roundtable on the Draft

The Tampa Bay Lightning has asked me to be a part of the organization’s Blogger Roundtable. This new feature, which has a number of independent writers weigh in on issues surrounding the team, will be a weekly column on the team’s website. Today's question has to do with the team's third overall pick. This weekend's draft is going to be huge for the Lightning...

Hockey Thoughts Early In The Off-Season

from Elliotte Friedman of CBC, - I'm hearing Yzerman is trying to trade Ryan Malone. Tampa Bay would prefer to avoid a buyout payout and the Lightning are offering a draft pick as an enticement. Malone has a no-move clause in his contract until July 1, which gives him some control of the situation. It is a limited no-trade after then. - There is incredible skepticism...

Ryan Wilson: Homecoming For Ryan Malone?

One of the results of the recent NHL lockout was giving teams the ability to use amnesty buyouts. Players would still be paid handsomely on their current contracts but the teams would no longer have that money tied up into their salary cap. Given that the free agency crop this year leaves much to be desired, the potential players that will be bought out may be the more attractive...

Lightning Will Buyout Lecavalier

TAMPA BAY – The Tampa Bay Lightning 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...

Eric Engels: Lecavalier, Briere, Jagr and the Habs...

Fire up the DeLorian... Three names on the market: Vincent Lecavalier, Daniel Briere, Jaromir Jagr. Let's talk about them... We all knew that for Steve Yzerman to build a competitive roster, buying out Lecavalier was a must. That said, it was a near-impossible reality to fathom. Would Jeff Vinik and Yzerman be willing to rid themselves of the face of their franchise...

Report- CBA Loophole Closed

from Larry Brooks of the NY Post, The NHL on Monday moved to close a loophole left in the allegedly airtight collective bargaining agreement by notifying general managers the league would deem re-signing a player following a trade and a subsequent amnesty buyout as circumvention, and thus would not register the contract, The Post has learned. It is believed the Lightning...
Today's Best Stuff
For Bloggers

Join the Yardbarker Network for more promotion, traffic, and money.

Company Info
Help
What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.