A quirk of the NHLs salary-cap system gave new Carolina Hurricanes forward Jeremy Welsh a record $17.9 million salary-cap figure when he signed to play in the teams final game Saturday.
Welsh, an undrafted free agent, signed with the Hurricanes after Unions semifinal loss in the NCAAs Frozen Four on Thursday. His one-year contract included a $92,500 signing bonus in addition to an annual salary of $832,500.
Welsh earned one days salary 1/185 of his annual salary, based on the number of days in the NHL season, or $4,500 as well as his entire signing bonus for playing in that one game. Based on the NHLs labor agreement, that entire bonus counts against the Hurricanes salary cap, so his one-day salary-cap figure was $97,000.
That one-day figure is multiplied by 185 to get his full-season cap figure of $17,945,000, although only one day of that is applied to the Hurricanes cap, leaving them at $50.5 million for the season, 27th in the NHL, according to the cap-tracking website capgeek.com, which first noticed the anomaly regarding Welshs cap figure.
Welsh, who played 15 minutes in Saturdays 4-1 loss to the Florida Panthers, completed the first year of his contract by playing in that game and is now a restricted free agent.
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