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Marleau Cap Hit if retires
If Marleau were to accept a trade to Arizona and then retire, does his cap hit count against Arizona, Toronto or partially to both. I was made to believe if a player who signs a contract after he is 35 and he retires with term on his contract the AAV would count against the team that originally signed the player.
If a player signs a multi-year contract after he's 35, the Cap Hit will count for the entire length of the contract even if he retires. The Cap Hit will stay with whoever the player belongs to when he retires. In your example, if Marleau was traded to Arizona and then retired with a year left on his contract, Arizona would have the the full Cap Hit for the remaining year.
Over 35 multi-year contracts can be bought out, but the cap hit is still the original cap hit of the contract and doesn't change. Buying out a 35+ contract only impacts the actual cash paid, not the cap hit.