Wake me up when September ends, right?
Last night one of the other teams beat one of the other other teams en route to the Eastern Conference Finals. Cool. Cool cool cool.
Yesterday the Oilers re-upped one of their journeymen, though he hasn’t had much of a journey to speak of just yet. Patrick Russell will be back next year, and judging by the one-way deal he received, it seems fairly likely he’s closer to an NHL player than an AHL player for the organization next season.
Whether that’s true based on his ability and performance, I suppose, remains to be seen.
More news broke yesterday about the Oilers facing almost $700,000 in bonus overages, in very large part due to the incentive-laden contract — and inexplicable deployment — of one Mike Smith.
I don’t know about anyone else, but it burns my ass that the Oilers have a cap penalty to navigate now because they signed him. Of all players.
You never hate when your young talent exceeds expectations and achieves more than you expected them to. You can’t. That’s found money. But in the case of Mike Smith, the Oilers gave him an opportunity to collect almost $2MM in performance bonuses last year, with all of his regular season bonuses tied to how many games he played.
So, whatever, fine. We talked about this when Ken Holland signed him, and even with these clauses, the organization could have kept him below 20GP for the year and avoided paying him even a cent of those bonuses.
Instead, the Oilers paid almost a full $3MM last year for a replacement level goaltender, and now have to carry over a bonus overage of $670,000 next year (or at 50% for the next two years, see below) for their trouble.
It was bad enough paying for Smith once. But twice? Yikes.
And if, somehow, someway, that sunk money on Smith makes them even a fraction likelier to bring him back next year? Woof.
https://t.co/Ihwb2PUs3N reports #LetsGoOilers will have bonus overage carryover of $670K.— PuckPedia (@PuckPedia) August 31, 2020
The $670K Bonus Overage will be cap hit either 100% in 20-21 or 50% next 2 years.https://t.co/yC72vfAUSy
For futher detail on #LetsGoOilers bonuses:— PuckPedia (@PuckPedia) August 31, 2020
-Smith: $500K 35 GP >30 mins, $250K pro-rated to $213K for 40 GP pro-rated to 35
-Haas: $212.5K for Top 3 F in +/-
-Jones: $26K Games Played
-Bear: $19K Games Playedhttps://t.co/yC72vfAUSy
Oilers Re-Sign F Patrick Russell (Copper and Blue)
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