Report: Zetterberg retirement will cost Wings millions for nothing

If he retires as planned, the cap penalties could cripple the team during its most pivotal rebuilding seasons.

HockeyFeed
HockeyFeed
Published 6 years ago
Report: Zetterberg retirement will cost Wings millions for nothing
Keystone Presss

Last week Detroit Red Wings captain Henrik Zetterberg admitted that he had no intention of completing his 12-year contract when he signed it in 2009. In a candid interview with a Swedish radio station, Zetterberg said, “I may have two years left, but I have also learned to take one year at a time”. This development has led to speculation that Zetterberg will retire following the 2018-19 season when his salary falls to just $1 million annually. He’s set to earn $7 million and $3.35 million annually in each of the next two seasons.

What’s really troubling for Red Wings fans though, aside from losing their captain and leading scorer, is that the team could be facing enormous cap implications if Zetterberg decides to follow through on his plans. According to a report from Ted Kulfan of The Detroit News, the Wings would be hit with a cap penalty of approximately $5.5 million in the final two years of Zetterberg’s deal due to some strange and extremely punitive rules in the NHL’s collective bargaining agreement. 

As a way to fight back against long-term deals like Zetterberg’s, the NHL instituted a cap recapture penalty on such long-term deals that could potentially cripple teams financially if come to pass. If Zetterberg retires following the 2018-19 season, the Wings would be the first NHL team to suffer under the rule. Other notable players with similar deals are Florida Panthers and former Vancouver Canucks goaltender Roberto Luongo and Chicago Blackhawks forward Marian Hossa. While the Blackhawks have managed to get Hossa off the books due to a rare skin condition, it remains to see what teams like the Canucks and Red Wings can do in their respective situations.


Source: Ted Kulfan