Kirlenko has played one season for MIN, coming over from Russia. He has a player-option for $10,219,420 next season, and is considering declining it in favor of a new contract. My questions:
1. This is a totally new contract, and not an extension on his current contract, correct? So the first year does not have to equal the amount that he's giving up by declining the player option, right?
2. Without cap space and the MLE probably too small, MIN would probably need to use the non-Bird exception.
Mr. Larry Coon wrote: This exception allows a team to re-sign its own free agent to a salary starting at up to 120% of his salary in the previous season (not over the maximum salary, of course), 120% of the minimum salary, or the amount needed to tender a qualifying offer (if the player is a restricted free agent -- see question number 43), whichever is greater. Raises are limited to 4.5% of the salary in the first year of the contract, and contracts are limited to four seasons when this exception is used.
I believe this passage talks about the most money and the most years that can be offered - are there any restrictions on making a smaller offer?
Thanks.