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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Comment removed.
Here is why Stamkos (and losing first round 4 picks) might not be that bad...You have to follow me a few levels deep... but here it goes...The NHL is upside down right now. You will see this in the next few days, when teams that are usually cheap start looking to add salaries by trading away young talent (and picks) for over priced veterans. We are used to seeing the complete opposite from these cheaper teams. This will happen because at least 1/3 of the teams in the league have to add a major amount of payroll just to get to the league minimum salary floor (ie see Florida.) In this style marketplace, veteran players and guys who justify big contracts will be the goal of all the teams in need of adding salary. This means there will be "a lot" of opportunity for the Flyer's to seek more cap relief by dumping high priced players to teams like Florida in return for picks. Picks aren't helping teams like Florida now, they need players (and salaries) not picks and over the years the lesser teams have compiled a ton of picks by trading away talent they refused to pay and via being bad teams and getting picks from the league. So The Flyer's maybe able to add a bunch of draft picks (maybe even a 1st rounder or two) by trading away some current roster players (who have decent sized salaries.) This will (1) free up more cap space for Philly & (2) will get more picks to supplement future Flyer's drafts. The addition of these picks (even if they aren't first rounders) will ultimately give the Flyer's more comfort that they aren not mortgaging the next 4 years of the organization's future draft considerations on one player.— drmonday- Is everybody comfortable with the fact that Stamkos' 186 points over the last 2 seasons brought him to a combined +1? Carter was a combined +29 with 127 points over the same period. Carter's percentage was right around 10.5% while Stamkos' was around 16.8. I guess what I'm asking is, with all of the criticism of Carter's uninspired play away from the puck, are we going to be hearing the same thing about Stamkos if the Flyers get him?— 1980
- Am I comfortable? Yeah, I'm comfortable with Stamkos over Carter. — monty142
- also see this as unlikely but I dont understand how so many can see this as "not worth it"--are you serious? a player like Stamkos doesnt come along often (and/or is rarely available) so figure it out and get it done--brings in a 21 yr old stud that is one of the top few players in the game.— btmb
- Can I just note: This hoopla has been created by this newspaper, and everyone else is sourcing you?— trungy
- Some ages to consider if losing 4 1st rd picks - JVR (22) Giroux (23), Schenn (19) Simmonds (22) Voracek (21) Couturier(18)
Add Stamkos (21)with some or all of above and we’re good....this would make the carter/richards deals more than worth it— philly thug - Comment removed.
- hey fabulous, ever watch a tampa game before? pp specialist is hardly how i would characterize stammer. he's a fast break/pp/one-timer/even-strength specialist if you ask me. and he commands the defenses' attention. look at how good his linemates performed this year. they were wide freaking open ALL THE TIME.
ps our pp wasn't that great last year.— otown philly fan - I just don't understand how we could say for a week that draft picks, especially first rouders are important, and then give away 4. I'd still be pretty psyched to get him though.— Chutley26
- I also heard that Toronto will not be tendering an offer sheet for Stamkos. Looks like this is a two horse race between PHL and Tampa, Toronto and NYR are into Richards (Brad that is). Star power is big for a sports franchise and Snider knows that, we have some young guns but will they be selling jerseys like stamkos would?— Chutley26
- If you project your team to be a good club, then Stamkos is worth the 4 first round picks because they will all likely be picks above 20....after the top 6-7 picks it's all a crapshoot anyway. For every 1 Giroux, Gagne, and Richards you end up with 5 Ouellets, Sittlers, Bowens and Woywitkas. 4 first round picks for a player & known commodity like Stamkos....DONE!— DaveyPoulin
- Comment removed.
- Cole has been around for about ten years. His first full season was last year?— Myohmy
- drmonday---hit the nail on the head---the cap 'floor' makes this offer/deal for Stamkos a very real possibility.— Romus
