As reported yesterday, Henrik Lundqvist signed a 7 year, $59.5 million dollar contract extension. Here is the year to year salary structure.
In addition to the no-move clause that was reported here
yesterday via Katie Strang at ESPN, Lundqvist received another nugget in the form of a $8 million dollar signing bonus due to him this fall when the new contract takes effect.
Couple other FAQ's that were asked to me yesterday:
1. If Lundqvist does decide to retire before his contract expires, the full cap hit does come off the books and Lundqvist forfeits all remaining salary.
2. Lundqvist's new contract is not subject to the "cap-recapture" penalty. The penalty only applies to contracts of 7 years or more signed before September 15, 2012.
As far as the contract itself; While concerns about having a 8.5 cap hit on a 38 year old goaltender are justified, you also have to take into consideration how high the cap ceiling is going to be at that point. There is a lot of chatter about the salary cap increasing by as much as $10 million in the next 2 seasons helped along by the NHL's new TV contract in Canada. In fact, there are some projections that have the cap over $100 million by the time the CBA expires in 2022. James Mirtle from The Globe and Mail wrote a great piece last week detailing how the new TV deal and the additional outdoor games could affect the salary cap next season and beyond.
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