New development:
Turgeon sticking around
Wednesday, May 21, 2003
Stars forward Pierre Turgeon cleared waivers Wednesday. No big surprise there. But Stars GM Doug Armstrong indicated that Turgeon will be sticking around with the Stars when they hit training camp in September.
Turgeon, who is under contract for three more years at $20.5 million, isn't interested in negotiating a reduced rate buyout.
"We've talked about a buyout with Pierre. He felt it just wasn't in his best interest," Armstrong told the Dallas Morning News. "We'll move forward with him as a roster player in our organization. There's not much else we can do."
The Stars have the right to do the buyout at a two-thirds rate, but that would cost them a lump sum of around $13.6 million. That's something Armstrong said the team can't afford.
That's a lot of money for a team hoping to re-sign captain Derian Hatcher and giving goalie Marty Turco a much deserved raise. And to make matters even worse for the Stars, Turgeon has another advantage -- a no trade clause in his contract.
And Turgeon isn't interested in waiving that no-trade clause either. So that means the Stars hands are basically tied. Turgeon will remain a Star heading into training camp, which begins in September.
The Stars could end up sending Turgeon to the minors next season. That would clear up a roster spot, but it would not settle the money issue. Turgeon could have a change of heart on the buyout or trade issues, but when and if he does will have an impact on the money issue. And the money issue is a big one for the Stars.
Turgeon's refusal to budge on a buyout or a trade will have major implications as Armstrong tries to keep the Stars payroll at $66 million for next season. That's about where the Stars ended this past season and what owner Tom Hicks has indicated is the team's limit for 2003-04.
After watching some lower payroll teams advance past the Stars in this year's playoffs, Hicks has suddenly become convinced that forking out big money contracts isn't a ticket to team success.
"We want to make sure we are in a position to win the Cup again, but that doesn't correlate to payroll," Hicks said after the Stars got bounced in the second round by Anaheim.
The Stars are already committed to about $58 million in salary for just 15 players for next season, including Turgeon's $7.5 million salary. And that $58 million doesn't include Hatcher and Turco, who together could add another $10 million to $12 million in salary to the Dallas payroll.
Hatcher, who becomes unrestricted free agent on July 1 if the Stars can't re-sign him and is among the top players to will hit the market this summer, could command up to $7 million per year.
Turco, who made $850,000 last season, is also looking at a big raise. Based on his numbers last season and what others before him have received, he could be looking at a contract between $3.5 and $5 million per season.
The Stars will have also take into account that without a deep playoff run next season, ticket revenues, which are the big cash cow for any NHL team, could stay about the same.
The Stars, who have seen season ticket holders drop over the past two seasons, have already cut season ticket prices in the pricey lower bowl and hope to break even on the lost revenue by jacking up individual ticket prices.
All that leaves Armstrong to face a dual challenge this summer. Build a team capable of winning the Stanley Cup next season, but do it within the confines of a payroll budget where about 11 percent could go to Pierre Turgeon, a player Armstrong says the team no longer wants.
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Can't say this makes me like Turgeon any better. Seems rather selfish of him. I just don't see him turning it around & going anywhere w/this organization. Word has it the Maple Leafs are planning to offer Hatch $10mil a yr, way beyond our reach. I wouldn't be too surprised to see us trade/let go other $$$ players now, maybe Sydor, maybe Arnott, very probably Matvichuk.