Steen Retires

The Note

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Quite a career, glad he got that Cup. He clearly wasn't the player he used to be and was overpaid but he was still a good player in his own right. Selfishly this helps the Blues cap in the immediate, though it always seemed he may be headed for LTIRment. I hope (if it's what he wants) he sticks around in some advisory role, but ultimately that he goes on to enjoy a healthy post-playing career. Also; what an absolute fleecing of the Maple Leafs that trade was!
 

KirkOut

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Great Blue. Yeah he kind of sucked lately but during his prime he was a real asset and clearly led by example his entire tenure. Loved the SOB line, and loved that 4th line of him, barbashev, and sundqvist during the cup run
 

Xerloris

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Gonna miss him. He was the right mix of everything you need in a team mate. I hope he retired before his injury was bad enough to effect the rest of his life.
 
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ort

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Wow, mixed feelings. I'm really glad the 2020 version of Steen is off the books, but what a career he had with the Blues. One of my favorites during his time here.

So happy he won his cup and so happy he won it with the Blues.
 

Stupendous Yappi

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But I was told this would never happen.... now stage 2 Steen accepts role within the organization
Did Steen just forfeit 3.5M in salary for this year? I understand retiring. I don’t understand why he wouldn’t show up and have doctors say he’s not fit, so he goes on LTIR. Or is this a situation where he IS going on LTIR but the retirement can be acknowledged openly for what it is?

Furthermore, this isn’t one of those recapture situations is it? Since his cap hit exceeded his salary?
 
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The Note

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Did Steen just forfeit 3.5M in salary for this year? I understand retiring. I don’t understand why he wouldn’t show up and have doctors say he’s not fit, so he goes on LTIR. Or is this a situation where he IS going on LTIR but the retirement can be acknowledged openly for what it is?

Furthermore, this isn’t one of those recapture situations is it? Since his cap hit exceeded his salary?


He is headed to LTIRement. Not sure about the recapture ramifications.
 

MissouriMook

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Did Steen just forfeit 3.5M in salary for this year? I understand retiring. I don’t understand why he wouldn’t show up and have doctors say he’s not fit, so he goes on LTIR. Or is this a situation where he IS going on LTIR but the retirement can be acknowledged openly for what it is?

Furthermore, this isn’t one of those recapture situations is it? Since his cap hit exceeded his salary?
My understanding is that he does forfeit the salary, however there is no recapture due to his cap hit exceeding his salary for this season. that only applies to contract where the player was already 35+ when it was signed. I expect that he will get some of his money from this season back in some sort of front office capacity.

Good luck, Steener. Thanks for some great hockey.

EDIT: Well, based on the update from JR, apparently he is still getting paid and still on the cap as an LTIRetired player.
 

Stupendous Yappi

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My understanding is that he does forfeit the salary, however there is no recapture due to his cap hit exceeding his salary for this season. that only applies to contract where the player was already 35+ when it was signed. I expect that he will get some of his money from this season back in some sort of front office capacity.

Good luck, Steener. Thanks for some great hockey.

EDIT: Well, based on the update from JR, apparently he is still getting paid and still on the cap as an LTIRetired player.
How does that make sense. If he’s on LTIR for the year, his cap hit exists, but it frees the Blues to exceed the cap by his salary, right? I think JR is saying this in a confusing way. Functionally is there much difference in cap ramifications if he formally retired vs if he LTIRed?
 

Xerloris

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How does that make sense. If he’s on LTIR for the year, his cap hit exists, but it frees the Blues to exceed the cap by his salary, right? I think JR is saying this in a confusing way. Functionally is there much difference in cap ramifications if he formally retired vs if he LTIRed?

From what I understand, the player can only be placed on LTIR after the season starts. So technically his cap still counts for now?
 

EastonBlues22

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How does that make sense. If he’s on LTIR for the year, his cap hit exists, but it frees the Blues to exceed the cap by his salary, right? I think JR is saying this in a confusing way. Functionally is there much difference in cap ramifications if he formally retired vs if he LTIRed?
I believe in a formal retirement, the Blues would get immediate relief from his full cap hit since it isn't subject to the recapture penalty. LTIR formulas are complicated, and I believe different for various points in the season, and also if there is other players on LTIR. The Blues getting full relief is dependent on other factors.
 

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