Stamkos: Procedure, rules, myths
Daily News Flyers blog
Stamkos: Procedure, rules, myths
With all of the hoopla surrounding the Flyers’ possible interest in Tampa Bay’s restricted free agent forward Steven Stamkos, let’s outline some facts, rules, and figures.
We outlined here in our story in Tuesday's paper why the Flyers might want to and why Tampa Bay might not come to terms with Stamkos on a new deal. A report from Rogers SportsNet in Canada on Tuesday said Stamkos and the Lightning are still "not close" on an extension.
Whether any of this happens remains to be seen, but it’s important to know how it all works.
PROCEDURE:
Starting today (Tuesday), at 5 o’clock, if the Flyers are so inclined, they may contact Tampa Bay forward Steven Stamkos - through his agents, Don Meehan and Mark Guy of Newport Sports Group - to express their interest by way of an offer sheet.
According to the NHL’s Collective Bargaining Agreement, the offer sheet can be presented - and must be faxed to the Lightning and NHL and NHLPA - but no agreement can be signed until the free agency period opens on July 1.
In the meantime, Stamkos could use the offer sheet (if presented) for leverage in his negotiations with Tampa Bay.
“Restricted Free Agents may make contact with Clubs (including their own) regarding potential interest, but may not sign new SPCs or Offer Sheets until the opening of Free Agency Signing Period.”
The Lightning will have 7 calendar days to review the offer sheet. They can decide to either match the offer sheet, exercising their “first refusal notice,” and pay their player the amount listed on the offer sheet, or they can choose to accept the compensation.
“(ii) An Offer Sheet, once signed by the Player and the New Club, shall be irrevocable.”
If the prior club, or Tampa Bay in this case, decides to not address an offer sheet after 7 calendar days, the player will become property of the new club.
COMPENSATION:
Since Stamkos would likely be signed to an offer sheet above $7,533,584 million, the compensation would be four (4) first round draft picks, payable in one first round pick per year for four straight years.
The Lightning have a right to check with the NHL and place a reserve on the Flyers’ draft picks, meaning they cannot trade them in another move, while mulling over any offer sheet.
It is not possible to send an offer sheet without first having said compensation available. The Flyers have all four of their next first round picks.
MYTHS:
-Steven Stamkos is not eligible for arbitration as he has not played four professional seasons after signing his entry-level contract.
-If he is presented with an offer sheet, accepts, and the Lightning decide to match, he must honor the deal.
OTHER QUESTIONS:
-The Flyers could sign Stamkos to a deal with any (reasonable) term that doesn't circumvent the CBA, a la Ilya Kovalchuk. For instance, a 14-year, $110 million deal would work for an average cap hit of $7.8 million.
-The Flyers are permitted to exceed the $64.3 million salary cap (and have in the past) by up to 10 percent in the summer but must be cap compliant by Oct. 6.
-The maximum money in any given year is set near $12 million. So, for instance, a deal structred like $20M-$5M-$7M-etc. will not work.
OFFER SHEET:
According to the NHL’s CBA, here is exactly what a (rather simple) offer sheet looks like:
EXHIBIT 6 FORM OF OFFER SHEET
OFFER SHEET
Name and Address of Player ("Player"):
Name and Address of Player's Certified Agent, if any:
Prior Club:
New Club:
[New Club] hereby offers to enter into an NHL Standard Player's Contract ("SPC") with Player containing the following Principal Terms:
1. Term of SPC:
2. Signing, Reporting, or Roster Bonus (if any): $
3. Paragraph 1 NHL Salary for each year of SPC: $
4. Paragraph 1 Minor League Salary, if any, for each year of SPC: $
Date: _______________
_______________________ Player (signed)
__________________________ New Club (signed)
cc: NHL Central Registry, NHLPA, Prior club
THE OTHER SIDE:
-For a solid look from the other side, read Erik Erlendsson's blog on the Tampa Tribune web site about the on-going Stamkos saga.
-This is another helpful link on signing RFAs.
For the latest updates, follow Frank Seravalli on Twitter: @DNFlyers
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I don't it see it happening. We'll make smaller moves like signing the guys we got in the trades, Leino, and maybe an erik cole or sean burgenheim. I don't see how we could do either Stamkos or Richards and have any type of flexibility if injuries occur on the team, which will happen.— dave1walsh
Comment removed.- I would wet my pants if they were able to steal him away with a huge money deal!! Anyone have an opinion on whether or not he is worth a deal like Kovalchuk ?(14-year, $110 million); that was mentioned above.— eaglessuperfan
- Nice bit of info Frank. Thank you.
Funny how some fools on this board don't think you know anything. Looks like you do your homework, IMHO...— 7xChamp - Comment removed.
- What a coup it would be. At 7 mil per season, it is worth it. Maybe you look at moving Timmonen while he still has value. 4 1st round picks is a ridiculous amount. What a horrible rule, but in this case, it would probably be worth it considering the young talent on the team.— bugsyhawk
- I don't think Stamkos is worth the huge investment that it would cost the Flyers. He is a stud but more or less a power play specialist. Tying up that much money in him would strap the Flyers for years. I think signing Gagne and another veteran defenseman would be priority for the team. Anyone else think Leino is worth 4 million?— Fabulous
- What Flyers power play have you been watching? A lot of you guys I don't get. If the Flyers were attempting to win with all role guys you'd be up in arms. Here it looks like they might go after one of the best in the game, right now and...you're up in arms. Talent cost money and the most talented cost the most money, welcome to major league sports. It's win now that counts. — SFPhillyphan
- Comment removed.
- Comment removed.
- Not worth it. Read the Tampa article. Stamkos could get $12 million/year. But that would severely limit whatever team he signs with. This may be a tactic that has been used before. You sign a rival team's player to a sheet, frocing them to pay more than they wanted, and limiting their flexibility in the future. Edmonton has done this before.— tdcuse
- Comment removed.
- This is the time of the year that the Flyers always shock us with a "BIG" deal we never expected.
One funny thing I would like to add. The Flyers have been thinking about doing this Stamkos trade for some time, you can bet on that. Once they knew they could shop Carter and Richards, they started thinking Stamkos. He is a franchise player and easily worth four first rounders. Each of those picks will be in the late stages of the first round by the way, as the Flyers will be right up at the top of the heap with this guy scoring goals and Briere, along with Giroux making for the best three centers on any team in the NHL. Even when Briere retires there will be a great young center in the wings when on of the two new young centers is ready to play.
The Flyers raised our season ticket prices $18 bucks a seat per game for next year, so they definately had something in the wind to spend my money. I think Stamkos is who they will go after. If they don't get him, there are still two other good unrestricted players at center available.— redstaterightwinger - Please, oh please, make this work, Homer. This guy would be worth every penny. He's 21 and a huge superstar. Think about what all this would boil down to if they got Stamkos: Carter, Richards, Powe, Carcillo, 4 1st round picks (none of which will be high) for Stamkos, Bryzgalov, Voracek, Couturier, Simmonds, Schenn. To me, Carter and Richards for Bryzgalov and Stamkos alone is a steal--throw in some real young talent like the other guys above and you've got a nice team for a long time.
That said, I still don't see this really happening. But it's nice to hope. Make it work, Homer!— monty142 - The Flyers under Ed Snider have always strived to be the best team possible and this offseason will be no different. They will sign Stamkos(arguably the best player in the NHL) to an offer sheet. Whether they get him remans to be seen.
Snider doesnt lose 2 franchise players(Richards+ Carter) for young guys with potential. Adding a Stamkos type player along with that young talent would seem to fit Sniders/Flyers M.O..
Plus with Comcast/NBC/Versus being based in Philly it would behoove Comcast-NBC to get one of the NHL's superstars out of Tampa and into a big market like Philly.— argonne
