Flo The Action wrote:does anyone know what the penalties are for willingly staying bellow the cap floor? is it a percentage of that amount?
i can't help and wonder if this is what ownership is aiming for if it can save more money that way.
There’s an entire section regarding punishments. Nothing is concrete in there though and they make it pretty clear that it wouldn’t be advisable. They will destroy you more than you saved with money and assets.
I imagine it would be lost 1st rounders/etc etc. I don't even think the league would allow a team to get in that situation.
Look what happened to Arizona just for testing some kids early. Times that by 10 if Ottawa goes full Ottawa.
I found this from an old article.....
(i) Impose a fine of up to $5 million in the case of a Circumvention by a Club or Club Actor, but in no circumstances shall such fine be less than $1 million against any Club or Club Actor if such party is found to have violated Article 50 of this Agreement. If such a fine is assessed against a Club (except in the case of a financial reporting violation), that Club's Payroll Room shall also be reduced by such amount for the following League Year, and if such reduction of the Club's Payroll Room renders the Club out of compliance with the Payroll Range (i.e., the Club does not have sufficient Payroll Room to accommodate its Player commitments comprising Club Salary) for such following League Year, then the Club must take such steps as are necessary (e.g., Assignment, Buy-Out, Waivers, etc.) and as are permitted by this Agreement to ensure that the Club will be in compliance with Article 50 of this Agreement upon
commencement of the following League Year;
(ii) Impose a fine against a Player of up to the lesser of $1 million or twentyfive (25%) percent of a Player's Paragraph 1 Salary in the case of a Circumvention by a Player or Player Actor, but in no circumstances shall such fine be below the lesser of $250,000 or twenty-five (25%) percent of the Player's Paragraph 1 Salary. Notwithstanding the $1 million limitation set forth above, any additional amounts by which the Player has been unjustly enriched due to the Circumvention shall be ordered to be disgorged;
(iii) Direct a Club to forfeit draft picks (the number, placement, and League Year of which shall be determined in the Commissioner's sole discretion);
(iv) Declare a forfeiture of any NHL Game(s) determined to have been affected by a Circumvention;
(v) Direct a Club to disclose and report to the Independent Accountants all information required by this Agreement, including, without limitation, by the provisions of Article 50;
(vi) Void any SPC, or any extension of an SPC, between any Player and any Club when both the Player or Player Actor and the Club or Club Actor are found to have committed such a violation with respect to such SPC or extension; and
(vii) Suspend any Club employee, Player, or Certified Agent involved in such a violation for a period of time determined in the sole discretion of the Commissioner, the System Arbitrator, or the NHLPA, respectively.