"Under the previously outlined scenario, the Maple Leafs would pay Luongo a total salary of $43,666,000 for his seven years of service. But their cap hit for those seven years would only be $37,333,331. The Leafs' cap benefit when Luongo retires in 2019 would be $6,332,669.
They'd divide that by three and would face a cap hit of $2,110,890 in the 2019-20, 2020-21 and 2021-22 seasons."[/QUOTE]
And that is a good thing; dead cap space for a retired player?
What if Lou, the competitor he is, doesnt want to retire and continues to play, but his play doesnt warrant a 5.3 hit which is very likely? I know, trade him away or send him to the minors to hide the cap hit.