The Canucks have  signed Lou for 12 more years at $64 Million. This would keep his salary at 5.33 mil in terms of the Cap a season. I’m not a capologist but, If the extension is considered this year, the Canucks have freed up that 2 million. However, that does mean that Luongo will be on the payroll until he’s 42 (at approximately 10% cap hit). Regardless, I’m still pretty Steve Nash fired up! [UPDATE: turns out extension does not affect this years cap hit.]