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 Oilers » Practice and Day Off Notes of InterestPages (6): [ «  <  1  2  3  4  5  6]
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 Re: Practice and Day Off Notes of Interest [message #804290 is a reply to message #798696 ]
Mon, 18 April 2022 12:46 Go to previous messageGo to next message
Adam  is currently offline Adam
Messages: 17835
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Do you ever feel like this organization loves playing with fire?

Quote:

Ryan Rishaug
@TSNRyanRishaug

My sense on the Woodcroft contract situation is, team will take a wait and see approach for now. More likely to get done after playoffs are finished and the full body of work is in. Has gotten impressive results so far, and would certainly have interest from other clubs IMO…/

...

But with that said, I believe the organization has to be happy with what they’ve seen. Top players flourishing, team meeting it’s potential, much improved 5v5 play. A deal feels likely to me, it’s just a matter of when.


Woodcroft was probably a fairly cheap extension in February, but that price tag keeps going up. If we have a lengthy run in the playoffs, then he could be even more expensive and the potential of him just waiting a short while to see what else is out there is also a danger. You hope that this team is showing him some level of appreciation at least, but really, who knows.

I do wonder what most of Ken Holland's days look like. He definitely seems like he's not working particularly hard for his $5MM a year.



"Thinking that a bad team's best players are the reason the team is bad is the "Tambellini re-signing Lennart Petrell" of sports opinions." @Woodguy55
#FireLowe #FireChiarelli #FireBobbyNicks #FireKeithGretzky #FireKenHolland #FireTippett

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 Re: Practice and Day Off Notes of Interest [message #804294 is a reply to message #798696 ]
Mon, 18 April 2022 13:59 Go to previous messageGo to next message
Skookum Jim  is currently offline Skookum Jim
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Found this on LT's blog.. thanks Woodguy.

Kane is off for a few days on personal leave for an NHL meeting in NYC with regards to his contract dispute with SJ. He's supported by the NHLPA filing a grievance v. Sharks on Kane's behalf, if he gets it all ($23 M) then I'll be hoping he won't feel the need to swing for an end-of-career home run on his next contract and might find a way to stay in Edm.

Quote:

@TSNRyanRishaug
Woodcroft says Kane is on personal leave today and tomorrow. Didn’t specify further.

@JasonGregor
I’m told Kane is in New York for meeting. And it is in regards to San Jose termination of his contract. #Oilers


[Updated on: Mon, 18 April 2022 14:02]


McDAVID! Oh YEAH Baby!!
Tic-Tac-Tao!
Keep on Rockin' in the Free World
P. Chiarelli math.. T. Hall = A. Larsson, Yak= bag o'pucks (OK he got one right...) K. Russell = $4.1 M+NMC, G. Reinhart= M. Barzal + A. Beauvillier, J. Eberle = R. Spooner,

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 Re: Practice and Day Off Notes of Interest [message #804297 is a reply to message #804294 ]
Mon, 18 April 2022 14:41 Go to previous messageGo to next message
Adam  is currently offline Adam
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Skookum Jim wrote on Mon, 18 April 2022 13:59

Found this on LT's blog.. thanks Woodguy.

Kane is off for a few days on personal leave for an NHL meeting in NYC with regards to his contract dispute with SJ. He's supported by the NHLPA filing a grievance v. Sharks on Kane's behalf, if he gets it all ($23 M) then I'll be hoping he won't feel the need to swing for an end-of-career home run on his next contract and might find a way to stay in Edm.

Quote:

@TSNRyanRishaug
Woodcroft says Kane is on personal leave today and tomorrow. Didn’t specify further.

@JasonGregor
I’m told Kane is in New York for meeting. And it is in regards to San Jose termination of his contract. #Oilers





I would think this is almost hopelessly optimistic.

If he is paid $23MM by the Sharks, he'll pay half that in tax plus have agent fees to deal with. I have no idea how escrow would work on something like that too - but I'd assume it's another discount.

A full payout probably would require a lengthy court case though and his lawyers are likely to push for a settlement instead where he leaves something behind so that he doesn't have to battle it out, potentially for years, and with an open potential of losing that court case. I think that it's likely that Kane has the upper hand here, given that the NHL didn't find enough cause to suspend him again, but when you go to court you just never know so it's better to take the money in a settlement - maybe he gets $20MM - rather than risk it on a hope he's someday successful in litigation.

At the time of his bankruptcy in 2019, Kane had assets of $10MM and liabilities of $26MM - and that's not including the battery lawsuit.

https://irasmithinc.weebly.com/blog/evander-kane-how-to-expl ain-his-gambling-debt-and-other-problems-bankruptcy-to-his-b oss

So if he clears $9MM from this, even if you supposed that he didn't need any of that to go towards living expenses, he's still owing probably $5MM plus on his insolvency. And that's ignoring this part:

Quote:

Kuechle v. Kane: On a much more serious note, Evander Kane listed this civil litigation in the Erie County Supreme Court in Buffalo, NY as pending. In her claim, filed on July 1, 2016, Rachel Kuechle declares that on December 26, 2015, she met Kane at the Encore Restaurant in Buffalo. She claims that he provided her with alcoholic beverages and invited her to his hotel room at the Buffalo Marriott Harborcenter on the early morning of December 27, 2015.
Kuechle further claims that upon arriving at the hotel that morning, Kane allegedly battered her creating her to experience physical injury consisting of lacerations, considerable hemorrhaging needing several surgical treatments as well as blood transfusions, along with severe emotional trauma. As the case is still pending, these claims have not yet been adjudicated. At the time, Evander Kane was playing for the Buffalo Sabres.


How much that case may eventually settle for is uncertain but that one does not seem to be one where Kane is in the driver's seat. The threshold for civil court is much less than in criminal court, and the fact that the complainant had injuries so severe they needed surgeries probably doesn't play well in front of a jury.

I would expect he could be facing another multi-million dollar liability here.

Not to mention, even after all these are cleared up, he still needs enough to live on. He's done nothing but hockey since he was a teenager and he could be out of the game after the next contract, so I think he needs to get as much as he possibly can out of this contract.



"Thinking that a bad team's best players are the reason the team is bad is the "Tambellini re-signing Lennart Petrell" of sports opinions." @Woodguy55
#FireLowe #FireChiarelli #FireBobbyNicks #FireKeithGretzky #FireKenHolland #FireTippett

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 Re: Practice and Day Off Notes of Interest [message #804298 is a reply to message #804297 ]
Mon, 18 April 2022 15:58 Go to previous messageGo to next message
inverno76  is currently offline inverno76
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Adam wrote on Mon, 18 April 2022 14:41

Skookum Jim wrote on Mon, 18 April 2022 13:59

Found this on LT's blog.. thanks Woodguy.

Kane is off for a few days on personal leave for an NHL meeting in NYC with regards to his contract dispute with SJ. He's supported by the NHLPA filing a grievance v. Sharks on Kane's behalf, if he gets it all ($23 M) then I'll be hoping he won't feel the need to swing for an end-of-career home run on his next contract and might find a way to stay in Edm.

Quote:

@TSNRyanRishaug
Woodcroft says Kane is on personal leave today and tomorrow. Didn’t specify further.

@JasonGregor
I’m told Kane is in New York for meeting. And it is in regards to San Jose termination of his contract. #Oilers





I would think this is almost hopelessly optimistic.

If he is paid $23MM by the Sharks, he'll pay half that in tax plus have agent fees to deal with. I have no idea how escrow would work on something like that too - but I'd assume it's another discount.

A full payout probably would require a lengthy court case though and his lawyers are likely to push for a settlement instead where he leaves something behind so that he doesn't have to battle it out, potentially for years, and with an open potential of losing that court case. I think that it's likely that Kane has the upper hand here, given that the NHL didn't find enough cause to suspend him again, but when you go to court you just never know so it's better to take the money in a settlement - maybe he gets $20MM - rather than risk it on a hope he's someday successful in litigation.

At the time of his bankruptcy in 2019, Kane had assets of $10MM and liabilities of $26MM - and that's not including the battery lawsuit.

https://irasmithinc.weebly.com/blog/evander-kane-how-to-expl ain-his-gambling-debt-and-other-problems-bankruptcy-to-his-b oss

So if he clears $9MM from this, even if you supposed that he didn't need any of that to go towards living expenses, he's still owing probably $5MM plus on his insolvency. And that's ignoring this part:

Quote:

Kuechle v. Kane: On a much more serious note, Evander Kane listed this civil litigation in the Erie County Supreme Court in Buffalo, NY as pending. In her claim, filed on July 1, 2016, Rachel Kuechle declares that on December 26, 2015, she met Kane at the Encore Restaurant in Buffalo. She claims that he provided her with alcoholic beverages and invited her to his hotel room at the Buffalo Marriott Harborcenter on the early morning of December 27, 2015.
Kuechle further claims that upon arriving at the hotel that morning, Kane allegedly battered her creating her to experience physical injury consisting of lacerations, considerable hemorrhaging needing several surgical treatments as well as blood transfusions, along with severe emotional trauma. As the case is still pending, these claims have not yet been adjudicated. At the time, Evander Kane was playing for the Buffalo Sabres.


How much that case may eventually settle for is uncertain but that one does not seem to be one where Kane is in the driver's seat. The threshold for civil court is much less than in criminal court, and the fact that the complainant had injuries so severe they needed surgeries probably doesn't play well in front of a jury.

I would expect he could be facing another multi-million dollar liability here.

Not to mention, even after all these are cleared up, he still needs enough to live on. He's done nothing but hockey since he was a teenager and he could be out of the game after the next contract, so I think he needs to get as much as he possibly can out of this contract.


The ugly truth. Damn I love the way he plays on the ice and then the facts of the real him just go supernova making it hard to stomach the man.

Guarantee what we read is not as bad as reality, but what we do not know about him is likely worse.

I am a believer in change. Even if it’s unlikely. His rope of trust shouldn’t even fit in his hand for the next decade.



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 Re: Practice and Day Off Notes of Interest [message #804300 is a reply to message #804298 ]
Mon, 18 April 2022 16:44 Go to previous messageGo to next message
oilfan94  is currently offline oilfan94
Messages: 373
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inverno76 wrote on Mon, 18 April 2022 17:58

Adam wrote on Mon, 18 April 2022 14:41

Skookum Jim wrote on Mon, 18 April 2022 13:59

Found this on LT's blog.. thanks Woodguy.

Kane is off for a few days on personal leave for an NHL meeting in NYC with regards to his contract dispute with SJ. He's supported by the NHLPA filing a grievance v. Sharks on Kane's behalf, if he gets it all ($23 M) then I'll be hoping he won't feel the need to swing for an end-of-career home run on his next contract and might find a way to stay in Edm.

Quote:

@TSNRyanRishaug
Woodcroft says Kane is on personal leave today and tomorrow. Didn’t specify further.

@JasonGregor
I’m told Kane is in New York for meeting. And it is in regards to San Jose termination of his contract. #Oilers





I would think this is almost hopelessly optimistic.

If he is paid $23MM by the Sharks, he'll pay half that in tax plus have agent fees to deal with. I have no idea how escrow would work on something like that too - but I'd assume it's another discount.

A full payout probably would require a lengthy court case though and his lawyers are likely to push for a settlement instead where he leaves something behind so that he doesn't have to battle it out, potentially for years, and with an open potential of losing that court case. I think that it's likely that Kane has the upper hand here, given that the NHL didn't find enough cause to suspend him again, but when you go to court you just never know so it's better to take the money in a settlement - maybe he gets $20MM - rather than risk it on a hope he's someday successful in litigation.

At the time of his bankruptcy in 2019, Kane had assets of $10MM and liabilities of $26MM - and that's not including the battery lawsuit.

https://irasmithinc.weebly.com/blog/evander-kane-how-to-expl ain-his-gambling-debt-and-other-problems-bankruptcy-to-his-b oss

So if he clears $9MM from this, even if you supposed that he didn't need any of that to go towards living expenses, he's still owing probably $5MM plus on his insolvency. And that's ignoring this part:

Quote:

Kuechle v. Kane: On a much more serious note, Evander Kane listed this civil litigation in the Erie County Supreme Court in Buffalo, NY as pending. In her claim, filed on July 1, 2016, Rachel Kuechle declares that on December 26, 2015, she met Kane at the Encore Restaurant in Buffalo. She claims that he provided her with alcoholic beverages and invited her to his hotel room at the Buffalo Marriott Harborcenter on the early morning of December 27, 2015.
Kuechle further claims that upon arriving at the hotel that morning, Kane allegedly battered her creating her to experience physical injury consisting of lacerations, considerable hemorrhaging needing several surgical treatments as well as blood transfusions, along with severe emotional trauma. As the case is still pending, these claims have not yet been adjudicated. At the time, Evander Kane was playing for the Buffalo Sabres.


How much that case may eventually settle for is uncertain but that one does not seem to be one where Kane is in the driver's seat. The threshold for civil court is much less than in criminal court, and the fact that the complainant had injuries so severe they needed surgeries probably doesn't play well in front of a jury.

I would expect he could be facing another multi-million dollar liability here.

Not to mention, even after all these are cleared up, he still needs enough to live on. He's done nothing but hockey since he was a teenager and he could be out of the game after the next contract, so I think he needs to get as much as he possibly can out of this contract.


The ugly truth. Damn I love the way he plays on the ice and then the facts of the real him just go supernova making it hard to stomach the man.

Guarantee what we read is not as bad as reality, but what we do not know about him is likely worse.

I am a believer in change. Even if it’s unlikely. His rope of trust shouldn’t even fit in his hand for the next decade.


Totally agree here. When I see him play, I think about how much I hope we can keep him on the team, but when you see the truth laid out I realize that it isn't worth giving up on other guys to make sure we keep him. He is on his best behavior right now, and while I hope for his sake (and his daughter's sake) he can stay that way long term, I think it is still pretty risky to bet too much on him (no pun intended).



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 Re: Practice and Day Off Notes of Interest [message #804301 is a reply to message #804297 ]
Mon, 18 April 2022 17:46 Go to previous messageGo to next message
Skookum Jim  is currently offline Skookum Jim
Messages: 8467
Registered: March 2006
Location: Burnaby, BC

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Adam wrote on Mon, 18 April 2022 13:41

Skookum Jim wrote on Mon, 18 April 2022 13:59

Found this on LT's blog.. thanks Woodguy.

Kane is off for a few days on personal leave for an NHL meeting in NYC with regards to his contract dispute with SJ. He's supported by the NHLPA filing a grievance v. Sharks on Kane's behalf, if he gets it all ($23 M) then I'll be hoping he won't feel the need to swing for an end-of-career home run on his next contract and might find a way to stay in Edm.

Quote:

@TSNRyanRishaug
Woodcroft says Kane is on personal leave today and tomorrow. Didn’t specify further.

@JasonGregor
I’m told Kane is in New York for meeting. And it is in regards to San Jose termination of his contract. #Oilers





I would think this is almost hopelessly optimistic.

If he is paid $23MM by the Sharks, he'll pay half that in tax plus have agent fees to deal with. I have no idea how escrow would work on something like that too - but I'd assume it's another discount.

A full payout probably would require a lengthy court case though and his lawyers are likely to push for a settlement instead where he leaves something behind so that he doesn't have to battle it out, potentially for years, and with an open potential of losing that court case. I think that it's likely that Kane has the upper hand here, given that the NHL didn't find enough cause to suspend him again, but when you go to court you just never know so it's better to take the money in a settlement - maybe he gets $20MM - rather than risk it on a hope he's someday successful in litigation.

At the time of his bankruptcy in 2019, Kane had assets of $10MM and liabilities of $26MM - and that's not including the battery lawsuit.

https://irasmithinc.weebly.com/blog/evander-kane-how-to-expl ain-his-gambling-debt-and-other-problems-bankruptcy-to-his-b oss

So if he clears $9MM from this, even if you supposed that he didn't need any of that to go towards living expenses, he's still owing probably $5MM plus on his insolvency...


Just a cursory review below..

Kane filed for Chapter 7 bankruptcy (individual), where creditors can not tap into Kane's future earnings after discharge of debt, which is why some creditors are filing court appeals to move it to Chapter 11 (corporate) where the creditors have rights to future earnings. I find it unlikely Kane's Chapter 7 filing will be overruled, and that he'll be re-classified as a corporation.. but we'll see how the courts rule on appeal.
Quote:

Chapter 7
Known as “liquidation” bankruptcy
Assets are sold off by a trustee to pay debts
When all assets are sold, the remaining debt generally is forgiven
Used by both businesses and individuals

Chapter 11
Known as “reorganization” bankruptcy
Debts are restructured by a trustee, and the business continues
Remaining debts must be paid back through future earnings
Used primarily by businesses


In Chapter 7 all the exempt assets.. (i.e. primary home, personal belongings, car..) are removed from the assets list, and the remaining assets liquidated to repay creditors.. once the debt is discharged, the debtor is released of all personal liability for payment. Its not clear if this process has happened yet with Kane (court appointed trustee, liquidation of existing non-exempt assets, debt discharge), but if the debt has already been discharged, I think the creditors are out of luck. If not, then probably expect more court appeals.
https://www.investopedia.com/terms/c/chapter7.asp
Quote:

... Trustee Appointment and Meeting of Creditors
The bankruptcy court will appoint an unbiased trustee to oversee the entire bankruptcy process. They will review assets and determine which assets can be liquidated to pay creditors. The trustee then schedules meetings with the creditors, where the validity of the petition and finances is confirmed. As the name suggests, the “meeting of creditors” allows them to meet with the trustee and the debtor to ask questions.

Debt Repayment
The bankruptcy trustee reviews the personal assets and finances of the debtor. Exempt property—or property necessary to maintain basic standards of living—is retained by the debtor. Nonexempt property is seized and liquidated to pay creditors. Property exemptions vary in each state. However, in many cases debtors are allowed to keep their primary home, personal possessions, and car. The trustee then oversees the liquidation of all other property.

Discharge of Remaining Debt
Most debts are discharged under a Chapter 7 bankruptcy. The discharge of debt will release the debtor from any personal liability for payment. Once a deficit is discharged under Chapter 7, the creditor may no longer seek future restitution from the creditor. Obligations relating to alimony, child support, some government debts, income taxes, and federal student loans are not allowable for release during bankruptcy. The law is very restrictive on discharging money owed for income taxes and student loans. The United States Bankruptcy Code lists 19 categories of debts that are not dischargeable.3 In most instances filers receive a discharge approximately two months after the meeting of creditors.

Serious Ramifications
There are definitely negative consequences to bankruptcy, which is why debtors should be sure it is right for them. Creditors may attempt to recover debt after discharge, even though they have no right to it (so it’s important to retain bankruptcy documents, as duplicates can be costly). The instance of bankruptcy will appear on credit reports for 10 years from the filing date, seriously damaging the debtor’s ability to get loans. Also, a person cannot file and receive a subsequent Chapter 7 discharge within eight years of a previous Chapter 7 discharge. It's important to be especially prudent financially after going through Chapter 7.


If he does receive the payout for his Sharks contract (future earnings to 24/25), it will be interesting to see how that payment will be classified by the courts.. is it considered an asset retroactive to his original Chapter 7 court judgement, and thereby accessible to creditors? Chapter 7 leans more in protection of the individual than creditor, so it will be interesting how this decision turns out.

All in all I'd think the full amount of the remaining debt owed to creditors ($26M?) is very much in doubt of being paid out, might even be none depending if the debt has already been discharged by a trustee earlier. More likely that Creditors in the end are forced to accept a settlement agreement for some amount of pennies on the dollar.

https://www.hockeyfeed.com/nhl-news/evander-kane-s-financial -future-looks-bleak-in-latest-court-filing
Quote:

Last year Judge Stephen Johnson ruled in favor of Evander Kane when creditors attempted to move his Chapter 7 bankruptcy claim to a Chapter 11 bankruptcy, one that would have allowed them to collect the money that Kane borrowed from them from his future earnings as a player in the NHL. Now however those creditors are appealing that decision in federal court and Kane is once again at risk of seeing his future earnings being garnished by his creditors.
Quote:

"What is clear, is it is not possible for this Court to grant effective relief to Zions because Zions cannot depend on Kane’s terminated contract to fund a Chapter 11 plan," reads Kane’s filing as per The Athletic. "Indeed, Kane’s professional prospects beyond the current season are uncertain. Were this Court to reverse the Conversion Order and remand the case to the bankruptcy court, there would be no basis to reconsider the Conversion Order because the underlying contract is gone."



Another thing that could affect creditor attempts to claim to any of Kane's contract settlement from San Jose, is if the Sharks payout the settlement over multiple years,; which they'd want to do for the franchise's annual cash flow, as well as cap hit reduction (if one is ruled by the NHL).

A precedent to consider is what happened with Mike Richards and the LA Kings in 2015. If you recall Richards got caught going across the US/CAN border with drugs. LA terminated the contract. NHLPA filed a grievance on behalf of Richards, for the 5 years and $22M remaining. They settled for $10.5M, paid out over 17 years, ending in 2031/2032. LA also received a cap hit by the NHL for every one of those years.. although small.
Surprised LA had to pay a cap hit, Richards had much worse situation than Kane, Richards had actually been caught and formally charged with a major crime, which could be considered a "material breach" of contract by LA, and he still received half his contract.
As it relates to Kane, he doesn't have a "material breech" for the Sharks to terminate of his contract, so I think he gets awarded a major percentage of his contract, and San Jose will want to pay it out over several years, like LA did.

I expect being paid out over several years will be harder for creditors to claim it as an "asset" under Chapter 7.

Another point which I hadn't thought about is that San Jose might actually have a cap hit out of all this.. like LA did with Richards.. might even be a higher cap hit because they had less of a reason to terminate the contract.. apparently LA didn't pay the full cap hit, got a discount from the league..
https://thehockeynews.com/news/report-kings-will-be-paying-m ike-richards-settlement-until-2031-32

[Updated on: Mon, 18 April 2022 20:22]


McDAVID! Oh YEAH Baby!!
Tic-Tac-Tao!
Keep on Rockin' in the Free World
P. Chiarelli math.. T. Hall = A. Larsson, Yak= bag o'pucks (OK he got one right...) K. Russell = $4.1 M+NMC, G. Reinhart= M. Barzal + A. Beauvillier, J. Eberle = R. Spooner,

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 Re: Practice and Day Off Notes of Interest [message #804309 is a reply to message #804301 ]
Tue, 19 April 2022 10:59 Go to previous messageGo to next message
oilfan94  is currently offline oilfan94
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Skookum Jim wrote on Mon, 18 April 2022 19:46


A precedent to consider is what happened with Mike Richards and the LA Kings in 2015. If you recall Richards got caught going across the US/CAN border with drugs. LA terminated the contract. NHLPA filed a grievance on behalf of Richards, for the 5 years and $22M remaining. They settled for $10.5M, paid out over 17 years, ending in 2031/2032. LA also received a cap hit by the NHL for every one of those years.. although small.
Surprised LA had to pay a cap hit, Richards had much worse situation than Kane, Richards had actually been caught and formally charged with a major crime, which could be considered a "material breach" of contract by LA, and he still received half his contract.
As it relates to Kane, he doesn't have a "material breech" for the Sharks to terminate of his contract, so I think he gets awarded a major percentage of his contract, and San Jose will want to pay it out over several years, like LA did.

I expect being paid out over several years will be harder for creditors to claim it as an "asset" under Chapter 7.

Another point which I hadn't thought about is that San Jose might actually have a cap hit out of all this.. like LA did with Richards.. might even be a higher cap hit because they had less of a reason to terminate the contract.. apparently LA didn't pay the full cap hit, got a discount from the league..
https://thehockeynews.com/news/report-kings-will-be-paying-m ike-richards-settlement-until-2031-32


It's funny because in the article quotes the NHLPA that this case "could not be used as precedent in any future cases", but I am not sure how they can really say this. It is definitely an extreme, and now with Kane they have another extreme case. As you say though, I think San Jose could end up with a bigger hit than LA, but it will probably be over 15 years and not have much effect on their overall cap hit. I am sure the Sharks expected to have to pay Kane, but were willing to do whatever it took to get him off the team, and jumped at the opportunity. If he was a well liked player on their team there is no way they would have treated him the same way.



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 Re: Practice and Day Off Notes of Interest [message #804311 is a reply to message #804309 ]
Tue, 19 April 2022 13:14 Go to previous messageGo to next message
Skookum Jim  is currently offline Skookum Jim
Messages: 8467
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Location: Burnaby, BC

6 Cups

oilfan94 wrote on Tue, 19 April 2022 09:59

It's funny because in the article quotes the NHLPA that this case "could not be used as precedent in any future cases", but I am not sure how they can really say this. It is definitely an extreme, and now with Kane they have another extreme case. As you say though, I think San Jose could end up with a bigger hit than LA, but it will probably be over 15 years and not have much effect on their overall cap hit. I am sure the Sharks expected to have to pay Kane, but were willing to do whatever it took to get him off the team, and jumped at the opportunity. If he was a well liked player on their team there is no way they would have treated him the same way.


I think the reference to "can't be used as a precedent" was to assure the NHLPA, and the other teams, that it can't used as a tactic by teams to get rid of players contracts, because the other teams were "screaming bloody murder" that LA was able to circumvent the cap rules. So I think the NHLPA will be using the NHL's ruling in this case in their arguments, and dig their heels in hard as they won't let a precedent be set where teams can nullify players contracts without just cause. The major difference between Kane and Richards cases is at least LA could point to a federal drug charge with Richards as a plausible reason to terminate, SJ doesn't have that, which I think will be the focal point of arguments.

I'll really be interested to see what San Jose has to pay in cap hit, if anything, and if the teams complain about it.

Friedman did 30 thoughts about it back when.. at bottom..

From previous article..
Quote:

When the settlement was first announced, Friedman reported that other teams were “screaming bloody murder” about the Kings being able to terminate Richards’ contract and not have to pay a long-term buyout. However, NHL deputy commissioner Bill Daly told Friedman that had the issue gone to arbitration — and the NHLPA had filed a grievance on Richards’ behalf — Los Angeles could have very well won the case.

Quote:

There shouldn’t be concern about this being a tactic used by GMs to get out from under contracts, however. Friedman reported the NHLPA was assured Richards’ termination and subsequent settlement “could not be used as precedent in any future cases.” And Richards’ case was unique in that the 30-year-old center was arrested and subsequently charged with a crime which led to the “material breach” and the termination of his deal.


Friedman's 30 thoughts..
https://www.sportsnet.ca/hockey/nhl/30-thoughts-the-aftermat h-of-the-mike-richards-settlement/
Quote:

The most asked question in NHL circles last weekend was, “What’s going to happen with their cap?”

The Los Angeles Kings reached a settlement with Mike Richards, ending the grievance process with a player whose contract was terminated. While bits and pieces have leaked, the exact salary cap repercussions have yet to be shared with the other teams.

But here’s what we do know:

If the Kings had bought out Richards last summer, he would have stayed on their payroll until the end of the 2024-25 season. The cap hit would move from approximately $1.2M this season to $1.7M next year, followed by $2.7M in 2017-18 and a two-season peak of $4.2M in 2018-19 and 2019-20. Then it would stay just under $1.5M for the final five seasons.

With the agreement, Richards’ cash lasts until the end of 2030-31 campaign. As part of a cap-recapture penalty due to decreasing dollar values towards the end of his contract, the Kings lose $1.32M from their cap this year — and the next four — with the settlement amount added to that total. Starting in 2020-21, the team’s only penalty is the settlement itself — and that’s not a high number, believed to be somewhere in the $550,000 per season range on average.

The year-to-year totals apparently vary. That’s huge cap relief for the Kings, especially when you consider his hit was to be $5.75M this year because they did not buy him out.

Privately, other teams are screaming bloody murder and are threatening to make an issue about it at December’s Board of Governors’ meeting. But the NHL is not sympathetic. In a phone conversation, Deputy Commissioner Bill Daly pointed out Article 50 of the CBA does have a mechanism for settlements.

“In our view, the Kings had a ‘Bona Fide’ opportunity to win this grievance,” Daly said. “In that case, they would have no cap hit at all. This way, there’s some penalty.”

You can dispute the merits of Daly’s argument, but when an arbitrator gets involved, all bets are off. All summer, I read how courts don’t like to overrule collective bargaining agreements between two parties. That didn’t stop the NFL from getting crushed by Tom Brady. So, who knows?

Richards hasn’t spoken yet, but it wouldn’t surprise me if he pushed for the settlement. No one had more to lose than he did. If the NHLPA loses, everyone who argues for him still gets paid. If the Kings lose, yes the cap takes a hit, but owner Philip Anschutz is still worth $11.6 Billion, according to Forbes.

If Richards loses, he gets nothing. It’s easy to say, “Hey, you’ve got a good case,” when it’s not your money. I understand why he’d want it for peace of mind.

The agents weren’t thrilled either.

“What’s to stop other teams from trying this?” one asked. The NHLPA did get, in writing, assurances the Richards grievance could not be used as precedent in any future cases.

That’s important language. But, we did cross new ground here. Are other clubs saying, “If they did it, we can too?”

30 THOUGHTS

1. Richards’ next court date is Dec. 8, so his future remains unclear. But he is an unrestricted free agent, and there is interest. He doesn’t turn 31 until February and it was his contract — not his play — that prevented other clubs from taking him. It’s believed the Kings were offering two or three prospects (Jordan Weal likely among them) to the Calgary Flames and/or Edmonton Oilers as incentive to acquire him before the arrest. Richards will have suitors should the time come.

2. Richards, his agency (Newport) and the NHLPA were very unhappy with Dean Lombardi’s comments to The Los Angeles Times, but chose not to throw gasoline on the fire with a statement of their own. No doubt they were angry it happened while legal proceedings continue. The GM stayed on the sidelines as Kings Vice-President of Hockey Operations and Legal Affairs Jeff Solomon handled the negotiations. In a sport full of emotional people, Lombardi may be most emotional of all. When the Kings won the Cup in 2014, his on-ice interaction with the players was easily the most intense I’d ever seen between an executive and a championship team. The pride he conveyed to them was really something. When he traded for Richards, he passionately defended the player against any character-related questions. To his credit, Lombardi accepted a lot of blame for things that happened with his players over the past year, so this was a jarring change. His biggest concern out of this: do Richards’ ex-teammates react negatively to it?

[Updated on: Tue, 19 April 2022 13:22]


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 Re: Practice and Day Off Notes of Interest [message #804316 is a reply to message #798696 ]
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Today was photo day, sans Kane. Does he get digitally added later?


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 Re: Practice and Day Off Notes of Interest [message #804317 is a reply to message #804316 ]
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Oscargasm wrote on Tue, 19 April 2022 15:48

Today was photo day, sans Kane. Does he get digitally added later?


Didn't take long, the team already wants him out of the picture !



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P. Chiarelli math.. T. Hall = A. Larsson, Yak= bag o'pucks (OK he got one right...) K. Russell = $4.1 M+NMC, G. Reinhart= M. Barzal + A. Beauvillier, J. Eberle = R. Spooner,

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 Re: Practice and Day Off Notes of Interest [message #804319 is a reply to message #804317 ]
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Skookum Jim wrote on Tue, 19 April 2022 17:29

Oscargasm wrote on Tue, 19 April 2022 15:48

Today was photo day, sans Kane. Does he get digitally added later?


Didn't take long, the team already wants him out of the picture !


I think a lot of guys on the team want him around.



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 Re: Practice and Day Off Notes of Interest [message #804320 is a reply to message #804319 ]
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Oscargasm wrote on Tue, 19 April 2022 18:14

I think a lot of guys on the team want him around.

I have no doubt, especially Bison.. weird that they wouldn't wait a day for the photo shoot., Kane's back tomorrow from his arbitration meeting.



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P. Chiarelli math.. T. Hall = A. Larsson, Yak= bag o'pucks (OK he got one right...) K. Russell = $4.1 M+NMC, G. Reinhart= M. Barzal + A. Beauvillier, J. Eberle = R. Spooner,

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 Re: Practice and Day Off Notes of Interest [message #804472 is a reply to message #798696 ]
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Early word is Darnell will not be on the trip to CBJ and Pitt


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 Re: Practice and Day Off Notes of Interest [message #804473 is a reply to message #804472 ]
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Oh well these games aren't life and death anymore hopefully he's back to play 1 more before seasons end


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 Re: Practice and Day Off Notes of Interest [message #804474 is a reply to message #804473 ]
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sinfulchimp306 wrote on Sat, 23 April 2022 13:12

Oh well these games aren't life and death anymore hopefully he's back to play 1 more before seasons end


Heal up and get ready for the playoffs. He’s not perfect, but he’s the best we got (some would debate).

Hopefully it’s nothing serious. It didn’t look bad, but who knows what he’s been dealing with this late in the season.



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He's a warrior if anything, I think it would take something bad to keep him out of game one


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 Re: Practice and Day Off Notes of Interest [message #804482 is a reply to message #804478 ]
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sinfulchimp306 wrote on Sat, 23 April 2022 19:13

He's a warrior if anything, I think it would take something bad to keep him out of game one

Random Oiler related thought. Is Oscar Klefbom still alive? Is anyone checking on him?



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Babaganoosh2.0 wrote on Sat, 23 April 2022 20:09

sinfulchimp306 wrote on Sat, 23 April 2022 19:13

He's a warrior if anything, I think it would take something bad to keep him out of game one

Random Oiler related thought. Is Oscar Klefbom still alive? Is anyone checking on him?


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 Re: Practice and Day Off Notes of Interest [message #804484 is a reply to message #804483 ]
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Oscargasm wrote on Sat, 23 April 2022 22:07

Babaganoosh2.0 wrote on Sat, 23 April 2022 20:09

sinfulchimp306 wrote on Sat, 23 April 2022 19:13

He's a warrior if anything, I think it would take something bad to keep him out of game one

Random Oiler related thought. Is Oscar Klefbom still alive? Is anyone checking on him?


Loving a peaceful life back home in Sweden

So is he retired. I've googled the hell out of this and can't find anything less then over 6 months old. Anyone mind filling me in?



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 Re: Practice and Day Off Notes of Interest [message #804486 is a reply to message #804484 ]
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Babaganoosh2.0 wrote on Sat, 23 April 2022 23:08

Oscargasm wrote on Sat, 23 April 2022 22:07

Babaganoosh2.0 wrote on Sat, 23 April 2022 20:09

sinfulchimp306 wrote on Sat, 23 April 2022 19:13

He's a warrior if anything, I think it would take something bad to keep him out of game one

Random Oiler related thought. Is Oscar Klefbom still alive? Is anyone checking on him?


Loving a peaceful life back home in Sweden

So is he retired. I've googled the hell out of this and can't find anything less then over 6 months old. Anyone mind filling me in?


It's the Oilers and he's out of sight, so I imagine management has forgotten he even exists and hasn't bothered to call for an update in those same six months.



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Babaganoosh2.0 wrote on Sat, 23 April 2022 23:08

Oscargasm wrote on Sat, 23 April 2022 22:07

Babaganoosh2.0 wrote on Sat, 23 April 2022 20:09

sinfulchimp306 wrote on Sat, 23 April 2022 19:13

He's a warrior if anything, I think it would take something bad to keep him out of game one

Random Oiler related thought. Is Oscar Klefbom still alive? Is anyone checking on him?


Loving a peaceful life back home in Sweden

So is he retired. I've googled the hell out of this and can't find anything less then over 6 months old. Anyone mind filling me in?


He was here a few months ago for a ‘checkup’. He’ll make an appearance again before the next season, where team docs will “check” his shoulder again and he’ll be placed on LTIR for the final year of his contract. He’s effectively retired.



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 Re: Practice and Day Off Notes of Interest [message #805872 is a reply to message #804482 ]
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Babaganoosh2.0 wrote on Sat, 23 April 2022 20:09

sinfulchimp306 wrote on Sat, 23 April 2022 19:13

He's a warrior if anything, I think it would take something bad to keep him out of game one

Random Oiler related thought. Is Oscar Klefbom still alive? Is anyone checking on him?


Zach Laing did some sleuthing and posted this on Twitter;

oscar played in a tennis pro-am in april, and was in rickard rakell’s wedding party last year!!
https://twitter.com/zjlaing/status/1524196726365597696?s=21& amp;t=G1QNihe_u9BQzmT3RYPUxg



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 Re: Practice and Day Off Notes of Interest [message #805871 is a reply to message #798696 ]
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Per Reid Wilkins on the Twitter machine;

The Oilers have called Philip Broberg up from Bakersfield.

They've also signed Carter Savoie to a 3-year ELC.


Broberg has been playing. Broberg is a Klefbom-Nurse hybrid. Insert him in game 6 and let’s FG!



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 Re: Practice and Day Off Notes of Interest [message #806502 is a reply to message #798696 ]
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Oilers black aces will be Dylan Holloway, Philip Broberg, Marcus Niemelainen, Brad Malone & Seth Griffith.

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Add Stuart Skinner and Dmitri Samorukov. Kyle Turris was recently recalled as well. The list will continue to grow. There are a few Condors players who are a little banged up after the series against Stockton.



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 Re: Practice and Day Off Notes of Interest [message #806503 is a reply to message #806502 ]
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OH good. So people can stop melting down about the initial announcement that it was just Turris. The reaction on twitter was pretty funny.

[Updated on: Tue, 17 May 2022 13:34]


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Kr55 wrote on Tue, 17 May 2022 13:31

Tom Gazzola @TomGazzola
Oilers black aces will be Dylan Holloway, Philip Broberg, Marcus Niemelainen, Brad Malone & Seth Griffith.

#StanleyCup

Add Stuart Skinner and Dmitri Samorukov. Kyle Turris was recently recalled as well. The list will continue to grow. There are a few Condors players who are a little banged up after the series against Stockton.



The bizarre thing with Turris is that it's not clear he was ever in Bakersfield. Despite being demoted months ago, he never played a single game with that squad.

I wonder where he's been? I have to think he's near the bottom of the list to get back in the lineup, since he hasn't played in a game since March 5th, and before that January 22nd.



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 Re: Practice and Day Off Notes of Interest [message #806506 is a reply to message #806504 ]
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Adam wrote on Tue, 17 May 2022 13:39

Kr55 wrote on Tue, 17 May 2022 13:31

Tom Gazzola @TomGazzola
Oilers black aces will be Dylan Holloway, Philip Broberg, Marcus Niemelainen, Brad Malone & Seth Griffith.

#StanleyCup

Add Stuart Skinner and Dmitri Samorukov. Kyle Turris was recently recalled as well. The list will continue to grow. There are a few Condors players who are a little banged up after the series against Stockton.



The bizarre thing with Turris is that it's not clear he was ever in Bakersfield. Despite being demoted months ago, he never played a single game with that squad.

I wonder where he's been? I have to think he's near the bottom of the list to get back in the lineup, since he hasn't played in a game since March 5th, and before that January 22nd.

I thought I heard just because he's a vet with a young family, he's been around town on "LTIR". Didn't want to send him down and be away from his family.



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 Re: Practice and Day Off Notes of Interest [message #806512 is a reply to message #806506 ]
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RDOilerfan wrote on Tue, 17 May 2022 13:49

Adam wrote on Tue, 17 May 2022 13:39

Kr55 wrote on Tue, 17 May 2022 13:31

Tom Gazzola @TomGazzola
Oilers black aces will be Dylan Holloway, Philip Broberg, Marcus Niemelainen, Brad Malone & Seth Griffith.

#StanleyCup

Add Stuart Skinner and Dmitri Samorukov. Kyle Turris was recently recalled as well. The list will continue to grow. There are a few Condors players who are a little banged up after the series against Stockton.



The bizarre thing with Turris is that it's not clear he was ever in Bakersfield. Despite being demoted months ago, he never played a single game with that squad.

I wonder where he's been? I have to think he's near the bottom of the list to get back in the lineup, since he hasn't played in a game since March 5th, and before that January 22nd.

I thought I heard just because he's a vet with a young family, he's been around town on "LTIR". Didn't want to send him down and be away from his family.


I think you are thinking of Duncan Keith



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Kr55 wrote on Tue, 17 May 2022 13:31

Tom Gazzola @TomGazzola
Oilers black aces will be Dylan Holloway, Philip Broberg, Marcus Niemelainen, Brad Malone & Seth Griffith.

#StanleyCup

Add Stuart Skinner and Dmitri Samorukov. Kyle Turris was recently recalled as well. The list will continue to grow. There are a few Condors players who are a little banged up after the series against Stockton.



Also - no Benson and Marody? Those seem like rather big omissions.

I do wonder what went down when Benson was demoted. It was reported he was really unhappy about it, but I wonder if there was some kind of blowout. It's pretty abnormal to see a number re-allocated during the season while the guy who was wearing it is in the minors, and now to see him not recalled, I wonder if he let loose on the way out or something. He did report to the AHL team though, although barely played in the playoffs, so maybe he's hurt and I'm reading more in to this than there actually is?



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 Re: Practice and Day Off Notes of Interest [message #807387 is a reply to message #798696 ]
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Evander Kane did not travel with the team to Calgary today as his gf’s pants launched and she gave birth to their son, Iverson Frank Kane today.


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Extra motivation to pump in a couple of goals for his new son tomorrow. Pretty handy that the game is only a few hours down the highway so easy to get too.


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