With the proposed salary cap changes, there are some teams that will in trouble if the Salary Cap changes as proposed by the NHL earlier this week. I go on record as saying that with the Collective Bargaining Agreement expiring just before the start of the new seasons’ Training Camps for teams… there should have been something in place to prevent the big contracts from being signed.
As proposed, the salary cap will be just below $60 million (which is $10 million below where it is now), and some teams will find themselves doing some revisiting on contracts they signed players to during the last few years.
If I were a player… yes, I would be upset about having my pay cut. As an owner, I should not have allowed my General Manager the leeway to sign away with what owners wanted to do economically to stop the losses, and the overpaying of players.
Teams that will need to revisit what they have been doing, and did over this past summer include Boston, Minnesota, Vancouver, Calgary, Philadelphia, San Jose, Chicago, Buffalo, Montreal, Washington, Toronto, Tampa Bay, Edmonton, Los Angeles, Detroit, and Pittsburgh.
Now, it is possible some teams with deep pockets could buy out the contracts they signed some players to, but it will cause some financial difficulties immediately to some teams.
I believe, in all honesty, the NHL is at fault for not stopping the signing of players when they realized the problems of realizing a new CBA. I honestly thought as everyone that with the new proposal, we would see a season start on November 2nd, but after researching the proposal… I knew it was highly unlikely.
This is a wait and see situation as today (10/19/12), we have learned tensions between Gary Bettman and Donald Fehr are at an all-time high.