Contract Extensions Cheaper than current salary

[PigsRule]

are you able to offer a contract extension that lowers the players existing salary...

example: i bid on FA bryzgalov and win with 50m bid... assuming i have the cap space, i sign the guy to 1yr deal at 50m, then extend him to 5yrs at 8million OR 4yrs at 6.4m (goalie extension ceiling) instead of 5yrs at 10m per.

Q: is this a contract loophole or just good cap management.

[hockeyfreak6000]

That would not be alowed. I have been meaning to add that to the rules. Only players with an existing contract expiring this season can be extended. Players who have just been signed are not eligable for an extension untill the end of the season if they signed a one year deal.

[PigsRule]

thx for clearing that up RE free agent signings.

how about existing players on our roster in the final yr of their contract... can we extend them at a lower per yr rate if they qualify per position ranking? I wouldve thought we cant extend a player below their current salary, it would have to be equal to or great in value than the current salary.

[hockeyfreak6000]

Yes if the player in his final year you can extend him at the eisting rates at the term that applies.The rates are lower for some players but higher than real life value for some players as well. It kinda balances out. For example a young player with potential whos contract expires this year is eligable. You can take a gamble and sign him to contract now at his current value or wait see how he does during the season and risk having to sign him more money.