Erik Cole is 34 years old, coming off of a 61-point season and is signed with the Montreal Canadiens through the 2014-15 campaign. All the same, he might hang up his skates this summer, according to the Montreal Gazette.
“I enjoyed my time at home and the kids are in school here until the end of June and we’ll reevaluate things after that,” said Cole, referring to the extra time he spent with his family during the lockout.
Cole is not thrilled about some of the financial concessions the players made compared to the previous CBA and that appears to be a key consideration as he ponders his future.
“I want to have a conversation with the (players association) about some of the escrow stuff and some of the fearsome things in the new CBA,” Cole said.
“Family-wise it’s a transition year with my daughter in school next year and I think it’s something to be considered and everybody should consider this when they look at the new CBA, not just the way it affects the group but how it affects you individually.”
Before the lockout began, Cole was set to make $4 million this season. He is scheduled to make another $4 million in each of 2013-14 and 2014-15, but because his contract was frontloaded, his cap hit is $4.5 million.
In slightly less interesting Los Angeles Kings news than the latest in the Mike Richards fiasco, the team handed Peter Budaj a one-year, two-way deal on Friday.
The veteran goalie’s contract pays $575K on the NHL level and $100K in the AHL (though it’s $150K guaranteed), according to Hockey’s Cap.
At the moment, it sounds like Budaj will be third on the Kings’ goalie depth chart. That says as much about how things have been going lately for Los Angeles than Budaj’s work on a PTO.
As noted above, one of the more significant moves in Budaj’s favor came when the New York Islanders claimed Jean-Francois Berube off of waivers this week.
The Kings actually waived Budaj before signing him, so this has to be a relief to a goalie with a fairly robust resume as a backup.
All apologies to Budaj, but it’s probably true that the Kings would prefer not to see him at the NHL level very often in 2015-16.
The Los Angeles Kings announced today that they have “reached an agreement with Mike Richards to resolve the grievance filed in relation to the termination of his NHL Standard Players Contract. The terms are agreeable to all parties.”
The club said that it will not be commenting further “on the terms” of the settlement.
The NHLPA released a similar statement.
It was reported earlier in the week that a settlement was close to being reached; however, it wasn’t clear what salary-cap penalties the Kings would incur.
We’re starting to find out some details now:
How the final numbers differ from what the Kings would have incurred if they’d bought Richards out will be interesting to see. And if there are differences, how will they be justified?