Rule changes

[Rob]

The following rule changes are official:

Releasing Players
Any released player signed for less than $1m will not count against the cap.  Any released player signed for $1m+ still has his contract count against the cap.  The released contract will count for 3 years at the most.  So any released contracts over 4 years long only count for 3 years.  If the released player is signed by another team the original team will receive a 50% reduction to the players cap hit (years stay the same).  If the original team bids on the released player he is still responsible for the original contract (no reduction) in addition to the new contract.  Any player released under a prospect contract will not cause a hit to the cap.

Longterm Injured Reserve
Each team will have one Longterm IR slot.  Any player on LTIR does not count against their teams cap.  Only players on the NHL Injured List may be moved to LTIR status.

Retired Players
All contracts for players who retire from the NHL are considered null and void.