The NHL’s buyout window opened at 12:01 am ET on Friday, June 15 and closes on June 30 at 5:00 p.m. ET.
When a player is bought out of his contract he immediately becomes a free agent available to any other club. But unlike the compliance buyouts that were allowed in 2013 and 2014, which allowed teams to get out from under contracts without a salary cap penalty, these ones aren’t get out of jail free cards.
These buyouts are paid out over twice the length of the remainder of the player’s contract. For players under the age of 26, the rate of that payout is one-third the total of the remaining salary; and for those 26 and older the payout is two-thirds the remaining salary. So a team will save some money against the cap up front, but will be penalized in the years over which the original contract would have expired.
For a full and in-depth rundown on how these work, check out CapFriendly.com’s explainer.
As this year’s buyout window opens, keep it here for an up-to-date rundown:
June 30
Montreal Canadiens – Steve Mason
The Canadiens put goaltender Steve Mason on unconditional waivers for the purpose of a buyout hours after acquiring him in a trade from the Winnipeg Jets.
Mason lasted just one year with the Jets after signing a two-year contract worth $8.2 million in 2017. He only played 13 games for Winnipeg when he went 5-6-1 with a .906 save percentage and 3.24 goals-against average.
Here are the details of the buyout:
Buyout information from CapFriendly.com.
The Wild have put forward Tyler Ennis on unconditional waivers for the purpose of a buyout.
Ennis had one year left of the five-year contract he signed back in 2014 with the Buffalo Sabres worth $4.6 million per year. The Wild acquired Ennis in a trade last June, but the 28-year-old had a disappointing season in Minnesota where he recorded just eight goals and 14 assists through 73 games.
Here are the details of the buyout:
Buyout information from CapFriendly.com.
June 26
Ottawa Senators — Alexandre Burrows
The Senators have placed veteran winger Alex Burrows on unconditional waivers for the purpose of a buyout, Sportsnet’s Chris Johnston reports.
Burrows joined the Senators via trade in February 2017, heading to Ottawa from Vancouver in exchange for prospect Jonathan Dahlen.
The 37-year-old went on to post 25 points through 91 games in a Senators jersey, 14 of those coming in 2017-18.
He had one year remaining on a two-year deal which would’ve paid him $2.5 million in 2018-19. Ottawa will save $833,333 as a result of the buyout.
Buyout information from CapFriendly.com.
June 23
Colorado Avalanche — Brooks Orpik
The Avalanche have placed defenceman Brooks Orpik on unconditional waivers for the purpose of a buyout, according to Sportsnet’s Chris Johnston.
Colorado acquired Orpik and goaltender Philipp Grubauer from the Washington Capitals on Friday in exchange for the 47th pick in the NHL draft. The move helped clear salary-cap space for the Stanley Cup champion Capitals, who could attempt to re-sign integral pending free agent John Carlson.
Orpik, 37, had one year and $5.5-million left on his contract. He collected 10 assists in 81 games with the Capitals during this past regular season; across 24 playoff games he registered one goal, four assists and a plus-17 rating.
The buyout will save the Avalanche $1.5 million.
Buyout information from CapFriendly.com.
June 22
The Sharks have placed defenceman Paul Martin on unconditional waivers for the purpose of buying out his contract.
Martin had two assists in 14 NHL games in 2017-18 and added two more assists in 18 games with the AHL’s San Jose Barracuda.
“Paul Martin has been the upmost professional on and off the ice during his three years in San Jose,” Sharks GM Doug Wilson said in a release. “His leadership, character and on-ice contributions have been essential to our success and in reaching the 2016 Stanley Cup Final. The impact he has had on our organization, his teammates and many of our younger players will be felt for many years to come.”
The move gives San Jose an extra $2,833,333 in cap space for the upcoming season.
Buying out Paul Martin's final year gives the #Sharks an additional $2,833,333 in cap space for the upcoming season, resulting in San Jose having a current projected salary cap of $60,657,084.
That is $18,842,916 below the newly announced $79.5M Upper Limit for 2018-19.
— CapFriendly (@CapFriendly) June 22, 2018
Buyout information from CapFriendly.com.
JUNE 21
The Edmonton Oilers placed defenceman Eric Gryba on unconditional waivers for the purpose of a buyout.
Gryba, 30, had one year remaining on a two-year, $1.8 million contract.
His buyout will save the Oilers $600,000 next season but add $300,000 to their cap in the 2019-20 season, according to Cap Friendly.com.
Eric Gryba’s buyout information from CapFriendly.com.
Gryba had two assists and 31 penalty minutes in 21 games for the Oilers last season.
[relatedlinks]
