The only thing that should adjust is tax, both federal and state should be allowed to adjust the salary cap per team.
The idea of having your home grown players not count against the cap make no sense. It would just revert back to big market teams paying their home grown all stars insane amounts of money and poaching other teams players who can’t afford similar contracts.
Also, what’s defined as home grown? Is Fox? What about Hajek? Must the player be drafted by that team or just play his first game for that team? What would happen is more Fox situations where young players decide not to sign only to become free agents and pick large market teams so that they can make more money than otherwise available.
This team has made more than a couple of poor decisions and they are paying for them. That’s the way it should work. Girardi, Staal, Smith and Shattenkirk. An aging Hank who is no longer that perennial all star player. These things will need to be dealt with either via a fortuitous trade, buyout or just time.
Also, let’s not act like the team only signed Panarin. They also acquired a RD in Trouba who they knew wanted a good amount of money long term. Those two together are going to be ~$19m.
This system has been in place for a while, the team knew the rules of the game and made their decisions. Just because it has turned out poorly doesn’t mean they can just request the rules to be changed.