Stars waived Turgeon - looking for buyout

[Drbio]

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Pricey Turgeon waived by Stars
Unproductive winger's contract not a good fit, says GM


05/16/2003

By MIKE HEIKA / The Dallas Morning News


Stars general manager Doug Armstrong has placed forward Pierre Turgeon on waivers, saying he doesn't know how to fit Turgeon and his contract into the team's plans for next season and beyond.

"We'd like to try to give him a chance to see if he can catch on with another team," Armstrong said Thursday. "We don't see a future with our team."

Still, determining that Turgeon doesn't have a future and actually moving him to another team are two different things.

Turgeon was signed as a free agent by the Stars in 2001 to a five-year deal for $32.5 milllion. He has three years remaining on the contract for $20.5 million ($7.5 million, $7.0 million and $6.0 million) with a no-trade clause for next season.

Pierre Turgeon
The Stars have the right to buy Turgeon out at two-thirds of that contract or $13.53 million, but Armstrong said that option was too expensive. Not only would the buyout be due in a lump sum, the Stars could be paying Turgeon for the 2004-05 season, when there is a chance of no hockey because of a labor disagreement.

"With the uncertainty of the labor agreement going forward, that just doesn't make sense," Armstrong said.

The NHL's collective bargaining agreement with the players expires Sept. 15, 2004, and there will be no hockey until a new CBA is signed. If, as many predict, the 2004-05 season is lost because of a lockout or strike, owners are not obligated to players at that time.

The Stars can offer to buy out Turgeon at a reduced rate. As long as both sides agree to the deal, the buyout can be consummated. If Turgeon took a $5 million buyout, for example, he would immediately get the cash and then would be able to shop himself to any team as an unrestricted free agent.

If Turgeon decided he could be happy under that scenario, then a deal could be done. If he decides he needs the full $13.53 million, the Stars could get tough and try to make his life with the team uncomfortable by sending him to the minors.

Once Turgeon clears waivers next Wednesday, the Stars have the option of doing anything they like with him.

"At that time, we'll comment further," Armstrong said.

Because of the Stars' abundance of centers, Turgeon was moved to left wing this season. He had the worst goal-scoring year of his career with 12 and accounted for 42 points in 65 games. Two seasons ago with St. Louis, Turgeon had 82 points in 79 games.

E-mail mheika@dallasnews.com

[MavsFanatik33]

That kinda sucks. I'm really gonna miss him, but I thikn it will help The *Stars* in the long run

[ames7]

There are rumors now that the buyout has happened, but they are unconfirmed (tsn.ca is the only source that carries this report, they were the ones to break the waiver story 2 days ago & they are also reporting that the Stars are looking into maybe doing the same for Claude Lemieux, who is due $4mil next yr).

Turg just never fit in w/the Stars. Not anyone's fault, it just never worked out & we just don't have the budget to keep him. We gotta clear room to resign Hatch & Turco. Best of luck to him elsewhere.

[ames7]

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.

***
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.

[jayC]

This guy has the biggest bag of nothing.

[ames7]

There is a debate on the Stars boards on who is the biggest overpaid Dallas sports spare. The consensus seems to be between Raef & Turgeon. Tough call.

[MFFL]

<< And to make matters even worse for the Stars, Turgeon has another advantage -- a no trade clause in his contract. >>



But the Stars CAN send him to the minors for the next three years. Turgeon has very little room to play hard ball, if the Stars want to end his career they can.

[Drbio]

<<

<< And to make matters even worse for the Stars, Turgeon has another advantage -- a no trade clause in his contract. >>



But the Stars CAN send him to the minors for the next three years. Turgeon has very little room to play hard ball, if the Stars want to end his career they can. >>



That would be ballsy. I would love to see something like that. I would gain a tremendous amount of respect for Hicks if he ordered it. Still, Turgeon negotiated the contract and the Stars agreed to take it over.