I'm hesitant to post this since I don't want to stoke speculation about trading Luongo. [EDIT IN: Everything changed about this situation last night when the Canucks staved off elimination in the 4th game of their first round series with LA. Cory Schneider got the start, which has started EVERY sports journalist following the Canucks to speculate that Luongo will be traded in the off-season. Note that this thread was started October 28th. We've always had the option to trade either of our goalies, and not just Cory as has been the common misconception].
The reason I'm posting this is to help quell the idea that we're "stuck" with Luongo because of his contract. I think this is a huge part of the reason why he's getting so much abuse from the fan base. Well, we're not stuck with him. If management needs to move him, the team that would be receiving him would really only be on the hook for his contract for 3-5 years. See below.
There are a couple of "out clauses". The first comes up in three years, the fifth year of the deal, where Luongo can request a trade. btw, Luu has a limited no-trade, but not a no-movement clause in his contract. Here's some info from 2009 when he signed:
http://www.faceoff.com/story.html?id...5-6c328be5e1d1This deal includes several “escape clauses,” mitigating risk by giving both parties an out if they’re unhappy.
The first comes five years into the extension. If Luongo isn’t pleased with where the team is at, or where it’s heading, he can then trigger a trade. The out clause is timed for what should be an organizational crossroads — one year after the Sedins’ current long-term deal is up. The Canucks have agreed to accommodate the request by moving Luongo at that point.
It’s likely Luongo would be a valuable commodity, coveted by NHL teams even at age 36. If it were to happen, the team which traded for him would owe him $27.2 million for the final seven years of his deal.
Two years later, after the contract extension’s seventh year, the Canucks have a reciprocal clause. If they want to go in another direction, they will have an opportunity to move Luongo despite his no-trade clause.
Luongo would be 38 years old. But, if he’s still playing at an elite level, should remain an intriguing trading chip. At that point of the deal Luongo would have five years left and he would be owed just $13.714 million.
If they wanted to do a deal, I think two GMs could make it happen. The destination team would only be on the hook for 3-5 more years:
- 5th year of contract, 3 years until Luongo's out
- 7th year of contract, 5 years until the Canucks' (or team he'd be with) out