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Is Jeremy Welsh's 2011-12 cap hit a typo?

Short answer, no. Jeremy Welsh's cap hit for 2011-12 is technically $17,945,000, the highest in NHL history. The long answer follows.

When a one-year contract containing bonuses is signed after the season has started, and is effective for the then-current season, the standard cap-hit formula is adjusted to the following:

[ ( base salary * days remaining in season / days in season ) + total signing and performance bonuses ] * days in season / days remaining in season

Examples of this in the past are entry-level contracts for Welsh with Carolina and Jesse Winchester with Ottawa in 2007-08 and Mats Sundin's one-year deal with Vancouver in 2008-09.

JEREMY WELSH

Base: $832,500
Signing bonus: $92,500
Performance bonus: $0
Signed on: April 7, 2012
Days in season: 185
Days remaining: 1

[ ( $832,500 * 1 / 185 ) + $92,500 ] * 185 / 1 = $17,945,000

** NOTE: Welsh's cap hit of $17,945,000 is compliant with Section 50.6 (a) of the CBA — the "20 per cent rule" — because his actual cap charge could not exceed $97,000 based on the date he signed.

JESSE WINCHESTER

Base: $762,500
Signing bonus: $87,500
Performance bonus: $25,000
Signed on: March 24, 2008
Days in season: 187
Days remaining: 13

[ ( $762,500 * 13 / 187 ) + $112,500 ] * 187 / 13 = $2,380,769

MATS SUNDIN

Base: $1,626,500
Signing bonus: $4,000,000
Performance bonus: $0
Signed on: Dec. 19, 2008
Days in season: 186
Days remaining: 113

[ ( $1,626,500 * 113 / 186 ) + $4,000,000 ] * 186 / 113 = $8,210,570

If the player is signing a multi-year contract under the same scenario, the standard calculation of a player's cap hit applies. Examples of this are Justin Abdelkader's entry-level deal with Detroit in 2007-08 and Antti Miettinen's deal with Tampa Bay in 2011-12.