Montreal to buy out Gomez contract
According to media sources, the Canadiens may soon be parting ways with center Scott Gomez as the Habs prepare to buy out the remainder of his deal at season’s end. Gomez has two years left with an annual cap hit of $7.36 million and is over the age of 26, Montreal would assume his cap hit over a period of four years (twice the remaining length of the contract)…
- 2012-13: $3,523,810
- 2013-14: $4,523,810
- 2014-15: $1,666,667
- 2015-16: $1,666,667
If the buyout does indeed happen, it’ll be a rather fitting end to one of the most disastrous acquisitions in Canadiens history. Not only did Montreal take on one of the league’s most bloated contracts — they paid a pretty price in doing so, giving up the likes of Pavel Valentenko, Chris Higgins and Ryan McDonagh. Since coming to Montreal in 2009 Gomez has appeared in 196 games, scoring just 21 goals while posting a minus-23 rating.
Note: Tha Habs hope the NHL adopts the amnesty clause (like the NBA) and just get rid of him that way. The “amnesty” clause, a.k.a. the “get-out-of-jail-free” card, allows each team to waive one player and remove him from the salary cap — creating room to sign another player and potentially saving millions in luxury-tax penalties. The player must still be paid, but the provision could give a few teams some relief and put an extra jolt in the free-agent market. Amnesty players will go through waivers, like any other player. However, teams that make claims will also enter bids. The highest bidder will get the player and pay that amount (with the balance paid by the team that cut him).
So let’s say the NHL had an amnesty clause. Now suppose the Canucks decided Cory Schneider was the goalie of the future in Vancouver. The Canucks could waive Roberto Luongo and his $5.3-million annual cap hit would be off the books forever. Now enter the Columbus Blue Jackets, who like Luongo but not for what he’s making. The Jackets could bid 60 cents on the dollar and, assuming nobody outbid them, they’d get Luongo, with the Canucks responsible for the salary shortfall, but not cap hit. (I smell a new rule for our pool!!!)
There are plenty of bad contracts out there. Imagine if every team was allowed to ditch its worst one…. Yes folks, we’re headed for another strike!