Report: Leafs win arbitration case with Cowen

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The Toronto Maple Leafs have won their arbitration case with Jared Cowen, who will remain bought out.

TSN’s Bob McKenzie reported the news today. It is a significant loss for Cowen, the 25-year-old defenseman who came to the Leafs in February as part of the Dion Phaneuf trade.

From Sportsnet’s story before the ruling:

At issue is whether Cowen was healthy enough to have the final year of his contract bought out by the Leafs last summer. A lengthy section of the CBA is devoted to “procedures for determining fitness to play,” and they include a player’s right to pursue a second medical opinion beyond what is provided by the team.

That information, plus witness testimony and other evidence, will be taken into account by the arbitrator while rendering a decision.

For Cowen, there is $3-million in salary at stake. That represents somewhere in the neighbourhood of 25 per cent of his career NHL earnings to date – a huge amount given his injury history and diminished future earning potential.

For the Leafs, it’s significant win. They’ll actually get a $650,000 cap credit this season. Next season, they’ll take a $750,000 hit, and after that their obligations are over.

If they’d lost, they would’ve lost the credit and assumed a $3.1-million cap hit this season, the final year of Cowen’s contract.

Sportsnet explains why the Leafs didn’t want to lose:

That’s a $3.75-million cap swing in total and would almost certainly result in the Leafs invoking long-term injury relief on one of three players – Nathan Horton, Stephane Robidas or Joffrey Lupul – to remain compliant.

Even though the LTI maneuver would offer immediate relief, it’s something the Leafs hope to avoid since it would increase the size of the cap overage penalty they’ll carry into next season because of performance bonuses expected to be earned by as many as five rookies in their current lineup.

Cowen had hip surgery after he was bought out. It’s been reported he may not be ready to play until February, assuming he can find a team. He played 37 games for the Senators last season, registering no goals and four assists.

Related: Lupul to start season on injured reserve, still aims to play again

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