Lucky Lou trades for Cap Space

Okay, Lou Lamarillo did the impossible.

He’s gotten himself out of his complete salary cap disaster.  Go here to get a summary of this issue, it’s something else that he ended up there and we’ve only been able to speculate all summer what was going to happen. 

By all reports, New Jersey will get cap relief on Alex Mogilny’s salary due to his long-term hip ailment.  I’m not sure about the details of why he can get it, but that’s whats being reported.

Now, Lamorillo has traded away Malakov to San Jose.  Malakov has recently told a reported he’s retired, and enjoying playing tennis in Florida.  Funny how he’s also claimed to have aching knees and is playing tennis….  Anyways, what’s even crazier is that Malakov hasn’t filed his retirement papers yet, and has always been in an indecisive state over this ‘retirement’ status.  Meaning, I actually think NJ suspended him and told him he’s retired.  Regardless….

The deal works out like this. Malakov and a first round draft pick for Jim Fahey and Alex Korolyuk.

Essentially, Lou had to give up a first round draft pick in order to move Malakov’s salary from his cap.  Now, there isn’t any salary to be paid to Malakov if he’s not playing, and he likely won’t.  But there is a hit against a team’s cap space that needs to be accounted for here. 

And that makes this a hard and bitter pill for New Jersey to swallow.  A great move by San Jose to pick up another prospect in a future year, and it really only cost them a depth defenseman in Jim Fahey. 

The Chief Canuck

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