Bonuses will help some avoid lockout pain
NHL players won’t receive salaries if the lockout extends into the season, but 30% of the league’s 50 highestpaid players will get money from their teams.
When Shea Weber signed an offer sheet from the Philadelphia Flyers, it included a $13 million signing bonus that he received once the Nashville Predators matched. He’ll miss out on $1 million in salary while locked out.
Zach Parise and Ryan Suter each got a $10 million signing bonus from the 13-year, $98 million deals they signed with the Minnesota Wild.
According to CapGeek.com, Buffalo Sabres defenseman Tyler Myers received a $10 million bonus while New York Rangers center Brad Richards ($8 million), Buffalo Sabres defenseman Christian Ehrhoff ($5 million) and Columbus Blue Jackets defenseman James Wisniewski ($3 million) received bonuses during the summer on deals signed in 2011.
Injured players will also get paid during the lockout, and the Rangers’ Marian Gaborik (shoulder surgery) will draw on his $7.5 million salary until he’s cleared by team doctors to play.
Boston Bruins center Marc Savard ($6.5 million) and Flyers defenseman Chris Pronger ($7.2 million) could get paid all season as they recover from concussions.
All players will have cash flow in October because the league will return most, if not all, of each player’s escrow payments from last season. Players had 8.5% of their salaries withheld last season in case players earned more than their allotted 57% of revenue. The refund could arrive around the time that players miss their first paycheck.
“When you’re receiving no income at all, getting the escrow payment will be good for the players,” agent Matt Keator said. “Eight-and-a-half percent of a whole season’s pay is a lot for some guys and is helpful for many in terms of day-to-day expenses and investments.”
Players get paid 13 times during the season, so Tampa Bay Lightning center Vincent Lecavalier, who makes $10 million, will lose $769,000 gross per paycheck. He’ll get about $850,000 back from escrow.
No player will lose more per paycheck than New Jersey Devils winger Ilya Kovalchuk, whose salary is $11 million. Each lost check is worth roughly $846,000 gross.
He made $6 million last season, so his escrow refund would cover about $510,000 of that.
The Washington Capitals’ Alex Ovechkin and Pittsburgh Penguins’ Evgeni Malkin, each scheduled to make $9 million this season, would give up about $692,000 per paycheck.
The three Russians have signed to play in the Kontinental Hockey League until the lockout ends.
A player making $1 million will lose about $77,000 per paycheck, starting in the middle of October.
“Having gone through this in 200405, many of the players have either lived this process or have been well educated as to what to expect during a lockout,” Keator said. “(NHL Players’ Association executive director) Donald Fehr runs a very communicative operation that has kept the players well informed and prepared for what may occur in the months ahead.
“Many have saved money and been ready for the potential of a long work stoppage. It is the fourth one in the last 20 years (a 1992 strike and three lockouts), so it’s not like it has not happened before.”