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Tim Thomas waives no-movement clause; will Bruins get out from under his cap hit?
Earlier this month, we learned that Tim Thomas planned to take a year off from hockey. Unless something changes (and this is a man who sticks to his convictions pretty strongly, so it's unlikely something will), he'll be sitting out the Bruins' 2012-13 campaign.
Or perhaps he'll be sitting out somebody else's. Thomas has obliged a request to waive his no-movement clause. From Boston.com:
Tim Thomas has waived his no-movement clause. The clause is in place until July 1, when the fourth and final year of Thomas's contract begins.
Several teams have inquired about Thomas's availability. GM Peter Chiarelli said those calls have been in relation to the cap floor, which currently projects to be approximately $54 million in 2012-13. Even if Thomas doesn't play next season, an acquiring team could apply his $5 million annual cap hit toward its total number. Thomas is due $3 million in salary.
Ah, the stupid cap floor.
One issue the Bruins are facing is that, because Thomas signed his deal after he turned 35, it will count towards the cap no matter what. For a team like Boston that operates near the ceiling, this is a real pain. But one man's trash is another man's treasure, and for a team that operates near the floor, this is an opportunity to save some money.
The Islanders, Jets, Coyotes, Panthers, and Avalanche are all sitting about $14 million below the projected cap floor right now, and by acquiring Thomas, they'd get $5 million closer without having to pay $5 million.
Who has the leverage in this instance? Would they take Thomas off of Boston's hands for next to nothing? Would they have to pay for the privilege, or would they be asking for a little something extra as a token of gratitude?
I couldn't say, but here's one thing I know for sure: the irony of Tim Thomas, Republican and Free Citizen, helping a poor team cook the books to take advantage of revenue sharing would be hilarious.
