- Sep 17, 2007
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I'm sure this was pointed out already, but a 35+ contract is a contract signed when the player was 35 years or older on June 30th (the day before the contract kicks in).
Look at Lundqvist for instance: He was bought out after 35, but there was still cap relief because he signed the contract prior to turning 35, therefore it being an SPC.
In addition to the age requirement when signing, the contract must also be a multi-year deal to qualify as a 35+ contract. Joe Thornton's contract is not a 35+ contract, even though he signed it at age 41, because it is only a 1 year deal. Ovechkin's contract was signed at age 35, and is for 5 years, so it is a 35+ contract.
Only the 2nd and subsequent years are subject to penalty if the player retires or is bought out. In the past, the penalty would be incurred regardless of the salary structure of the contract, but this was changed in the MOU so that the penalty is incurred only if the contract is front loaded. Mike Smith signed a 2 year deal at age 39, but it is backloaded. He makes more in the 2nd year than the 1st year. This contract is not subject to 35+ penalties.
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