Signing bonus plus salary can’t exceed $14MM

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So there’s no “$24 million” upfront. Sorry. The CBA limits salary plus bonuses in any given year to 20% of the upper limit in the year in which the contract is signed.

Winger Zach Parise has a once-in-a lifetime chance to get maximum dollars in unrestricted free agency. He can write his own ticket. If he wants giant dollars up front in his new deal — via a two-stage signing bonus for, say, $24 million — he will get giant dollars up front. That is why the New Jersey Devils failed to keep him off the market.

via Zach Parise rejects New Jersey Devils, enters market | Yardbarker.com.
 

Some posts the robot says are related, but I'll let you be the judge of that:

  1. Is signing Jarret Stoll a “must-do”?
  2. NBA salary cap memo points to economic trouble ahead for NHL – Allan Muir – SI.com
  3. Why the Blackhawks can exceed the cap – From The Rink
  4. NHLSCAP.com – Salary Cap FAQ [and my notes on how it applies to Rathje and the Flyers' Cap Problems]
  5. From Mirtle: More on the Salary Cap
  6. From TSN: Salary cap will be approx. $57MM
  7. From Tom Benjamin’s NHL Blog: Signing the Sedins
  • Sam

    Man, Kovalchuk has to be bummed. Brodeur will likely leave as will Parise. Then again, there was a lot of talk Kovalchuk’s deal would make it impossible to keep the team together. Either way, Jersey may be a shadow of the team that won the East.

    • http://www.mcsorleys-stick.com/ Quisp

      Brodeur is old. He was never going to be around for the bulk of Kovalchuk’s deal (neither will Kovalchuk, but that’s another story). We talked, two summers ago, at some length about the likelihood that Kovalchuk’s signing would drive Parise out. If Lou is able to re-sign him it will be a minor miracle for Devils fans.

      • Garrett79

        Teams that owe $77,000,000 that they don’t have to assorted creditors should not be allowed to continue signing players to these types of contracts.

  • IAmJoe

    What I’ve seen Bob McKenzie and others talking about today is $24M “up front” and they’ve explained that they mean across the first two years. 12M signing bonus now, 12M signing bonus next year, so that as much of the money is front loaded as possible. I get the same out of that quoted piece there, given the “two-stage” bit.

    • http://www.mcsorleys-stick.com/ Quisp

      I can get that out of the article if I already know the rules but otherwise it sounds like he is somehow asking for or can actually get $24MM per year.