That pesky over 35 clause in the CBA hasn't really nabbed anyone since Vladimir Malakhov's untimely departure from the NHL (which departure is shrouded in mystery). Let's revisit what that clause essentially states: Any player who signs a multi-year contract over the age of 35 (as of June 30th of the year that contract goes into effect), his contract is considered to count against the salary cap in the 2nd and any subsequent years, regardless of whether or not he is retired or active, unless he is put on Long-Term Injured Reserve.
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Philadelphia, Ottawa, New Jersey, and Detroit seem the worst off here. Detroit has two players who had awful seasons on the cap for 2 more seasons. Philadelphia has Ian Laperriere likely dragging down their team or their cap, not to mention the horrible possibility of Chris Pronger getting injured and playing at a sub-par level. New Jersey has the Brian Rolston contract which began horribly and may never recover. Ottawa's contracts are to skill players who have showed few signs of declining, but could at any moment.