So you understand incorrectly. Franzen's contract (as well as Hank's & Kronner's) is covered by the Cap Advantage Recapture clause, also known as the Roberto Luongo Rule, in the new CBA. If a player signed a 7 year+ deal prior to Jan 2013 & retires before the expiration of the contract, the potion of the contract that was considered a cap advantage (years where actual salary exceeded the cap hit) is recaptured over the remaining years of the actual contract. So for example, if Franzen were to retire after the 2015-16 season, he would have been paid $36m over the course of 7 seasons but the cap hit was only $27,681,815. The difference would apply evenly over the course of the final 4 years of Franzen's contract, meaning the Wings would take a $2.08m cap hit for Franzen starting the 2016-17 season & he would finally come off the books after 2019-20.
You can find a really easy to use cap hit recapture calculator here: http://www.capgeek.c...ure-calculator/
I stand corrected!!