Tampa Bay Lightning: 50 Greatest Moments In Franchise History
By Kyle Barber
Sep 16, 2013; Philadelphia, PA, USA; Philadelphia Flyers center Vincent Lecavalier (40) during warmups before preseason game against the Washington Capitals at the Wells Fargo Center. Mandatory Credit: Eric Hartline-USA TODAY Sports
23. Tampa Bay Lightning Buyout Contract Of Vincent Lecavalier
Date: June 27, 2013
Whenever you have a long tenured player like Vincent Lecavalier on your roster and they are not producing, sometimes it is hard to cut ties. When you are paying this player $7.7 million dollars per season and he is the captain of your hockey team, the decision is even tougher. On June 27th, 2013, Tampa Bay Lightning General Manager Steve Yzerman announced the Lightning will exercise the use of a compliance buyout on Captain Vincent Lecavalier.
The Lightning would pay Lecavalier two-thirds of the value of his contract over the This means that the Lightning would owe Lecavalier approximately $2.14 million dollars annually for the next 14 years for a total of just under $30 million.
It was a tough day for all of Lightning nation as they said goodbye to their captain. Lecavalier was the number one overall selection of the 1998 NHL Entry Draft and was the face of the franchise over the last 13 seasons in a Lightning uniform. Though it was sad to see him go, the benefits of clearing up $7.7 million dollars of cap space has made the Tampa Bay Lightning into the team they are today. With the ability to sign players like Steven Stamkos, Victor Hedman, and Ben BishopTyler Johnson to contract extension was because of the money the team saved when they cut ties with Lecavalier.
Though we will never forget what Lecavalier did for the Tampa Bay Lightning, the buyout of his contact helped form the winning team that the team puts onto the ice each and every night.
Next: Winning The Trade By A Landslide