VegasInsider.com
VI Mobile Scores and Betting OddsVI Mobile Scores and Betting Odds Be Social
Home
NFL
NBA
NHL
MLB
NCAA FB
NCAA BK
Golf
Auto
Horses
Soccer
Boxing/MMA
More
Betting Tools

 
Lightning to buy out Lecavalier's contract

TAMPA, Fla. (AP) - The Tampa Bay Lightning are buying out the contract of center Vincent Lecavalier, a move that will create salary cap space and make one of the stars of the franchise's only Stanley Cup champion a free agent next month.

Advertisement
Lecavalier was the first overall pick in the 1998 NHL draft and helped Tampa Bay win the NHL title in 2004. He is Tampa Bay's career leader in goals and games played.

The four-time All-Star spent 14 seasons with the Lightning and was team captain for much of that time.

General manager Steve Yzerman said Thursday that using a compliance buyout allowed by the NHL's collective bargaining agreement will provide financial flexibility that will provide an opportunity to improve the Lightning roster for the long term.

The buyout will cost more than $32 million over 14 years.

``Vinny has been a significant reason for many of our past successes, including the 2004 Stanley Cup, and his contributions to the community are immeasurable,'' Yzerman said in a statement released by the team. ``The Lightning organization is indebted to Vinny; we thank him for all he has done here and we wish him well as he moves forward.''

Lecavalier, who was owed about $45 million over the next seven seasons, will become an unrestricted free agent on July 5. He will be able to sign with any team except Tampa Bay.

Under the buyout, he will receive two-thirds the value of his existing deal spread over twice the term of the contract.

``After much internal deliberation, we believe this will prove to be a pivotal move for us as we strive to achieve our long term goal of competing at the highest level, year-in, year-out,'' Yzerman said. ``The economics and structure of the CBA are necessitating this decision and we at the Lightning are excited at the newly created opportunities this presents to us.''

Lecavalier led the NHL with 52 goals during the 2006-07 season. Besides franchise-bests of 1,037 games played and 383 career goals, he also is Tampa Bay's all-time leader in power play goals with 112 and game-winning goals with 60.

The move saves $7.727 million in salary cap space next season.

Copyright 2017 by STATS LLC and Associated Press.
Any commercial use or distribution without the express written
consent of STATS LLC and Associated Press is strictly prohibited.

  
HEADLINES
Williams: In the Crease - Week 11
News: Grand Salami - December
Wild G Dubnyk sidelined with injury
Neil retires after 15 seasons with Sens
Merrill's 1st goal lifts Vegas past Pens
Saros saves 46, Preds blank Oilers 4-0
NHL-best Lightning beat Coyotes 4-1
Sharks edge Flames on late Donskoi goal
Wild's Stalock blanks Leafs in 2-0 win
MORE HEADLINES
 
Why Buy Picks From VegasInsider.com
NHL Pro Hockey Handicapper Sports Picks Records
NHL Hot Streaks
9-2 L11, 41-18 G-Plays, +1,301 TY
4-1 +355 L5, 12-3 +1,085 L15 Run
5-0, +530 L5 Guarantees
3-1 +315 L4, +1,245 G-Plays TY
4-1, +365 Record Yesterday
12-5 L17 Picks, 6-3 L9 G-Plays
NHL Pro Hockey Expert Sports Picks - San Jose Sharks at Vancouver Canucks
2017 NHL SEASON PICK RECORDS
Money Leaders
Handicapper Money
Matt Fargo + 1301
ASA + 1020
Kevin Rogers + 798
Underdog Leaders
Handicapper Money
ASA + 923
Bill Marzano + 435
Gary Bart + 198
Over-Under Leaders
Handicapper Money
Stephen Nover + 1107
Bruce Marshall + 882
Doc's Sports + 334
Guaranteed Leaders
Handicapper Money
Matt Fargo + 1780
Kevin Rogers + 1245
ASA + 423
Favorite Leaders
Handicapper Money
Matt Fargo + 1099
Kevin Rogers + 1061
Bill Marzano + 530
Member Leaders
Handicapper Money
Doc's Sports + 726
ASA + 715
Stephen Nover + 277
MORE PICK RECORDS
  
corner graphic
With a VI Gold Membership, you can SAVE 10% off a Live Odds subscription, SAVE 20% off Daily Pick packages, and receive access to up to 1,000 Member Plays each month!
VI Gold Membership