Earlier today, Boston Bruins General Manager Peter Chiarelli issued a statement in regards to the NHL’s investigation of Marc Savard’s seven-year $28.05 million contract extension that was inked back on Dec. 1, 2009:
“We are cooperating fully with the League in its investigation of the Marc Savard contract extension. The League informed us upon their registration of the contract on December 1, 2009 that they would be investigating the circumstances surrounding this contract. From that point on, they commenced their investigation and it has been ongoing since then. On August 4th, I met with two League appointed lawyers as part of the investigation. We will continue to cooperate with the League in any future investigative proceedings if necessary and we will have no further comment on the matter at this time.”
Savard’s seven-year deal, which begins this 2010-11 NHL season, is heavily front-loaded, where he will receive $7 million for the first two seasons; $6.5 million in 2012-13; $5 million in 2013-14; $1.5 million in 2014-15; and $525,000 for each of his last two years (2015-17) when Savvy turns 40 years-old.
If the NHL ultimately revokes this contract, then Savard would become an unrestricted free-agent, and the Bruins would free-up a whole lot of cap-space ($4.083 million) for this year…and beyond. Could the Bruins benefit from the NHL’s investigation? I, for one, wouldn’t mind whatsoever. The Bruins could salvage some contract integrity, free-up some cash, and open the doors for younger players (Colborne, Sauve, Caron) to make the roster.