Joined: May 2023
Posts: 512
Likes: 452
The way LTIR works is that in order to benefit, you need to be able to fit the players salary before they are on LTIR.
So, for example, let's say Joseph goes on LTIR, Sens would be allowed to exceed the cap by an amount up to his AAV (I say up to because there's a formula, it's not necessarily the full amount), but that cap also counts Joseph. You don't suddenly they 6M of cap space. You get up to an extra 3M, while still counting Joseph's.
If you're up against the cap, or over, and trade for an LTIR contract, you don't get to ignore their cap hit and then also get relief up to that amount, that would be double dipping. Carey Price would be worth more than when he was still playing.
It's basically a "Let's pretend this player and their cap hit doesn't exist" when counting against the cap.