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Panthers to use regular buyout, not compliance, on Kuba

Jul 3, 2013, 4:09 PM EDT

FilipKuba

After just one season in Florida, Filip Kuba is on his way out.

The Panthers will buy out the final year of Kuba’s contract, according to TSN’s Bob McKenzie — a decision that will cost the club $4.2 million in salary next year.

Also, because the team is using a standard buyout as opposed to a compliance one, his $4 million hit will still count against Florida’s cap.

It’s believed the Panthers aren’t worried about cap space this season — they’re $17 million under the ceiling with Kuba on the books — and this allows them to retain both compliance buyouts for next season, if they so choose.

Kuba, 36, signed a two-year, $8 million deal with the Panthers in 2012 after reviving his career in Ottawa during the 2011-12 campaign.

Paired with Norris-winning defenseman Erik Karlsson, Kuba enjoyed a 32-point effort and a plus-26 rating while playing nearly 24 minutes a night with the Sens, a big reason why Florida inked him to a lucrative deal to replace the departing Jason Garrison.

In 2013, Kuba played a bunch — 44 games, over 21 minutes a night — but his production fell to just 10 points and he finished minus-18 on the year.

  1. ibieiniid - Jul 3, 2013 at 4:44 PM

    can somebody explain the difference to me between unconditional waivers (this buy out) and just regular assignment waivers? are they just trying to help Kuba out by letting him sign with somebody else instead of being stuck in the AHL? unless that’s the case, I don’t see why they wouldn’t just send him down. somebody help me out… my waiver knowledge isn’t the most thorough.

    • ray2013 - Jul 3, 2013 at 5:15 PM

      Players can be put on the two types of waivers, one so that any team in the NHL is able to claim the player like the Canucks did with Ballard. The other is the unconditional waivers, as part of the process to buy-out the contract.

      Buy-outs allow teams to take bad contracts off the books by letting them pay a portion of the total contract (I think it’s 2/3). This makes the bought-out player a free agent, and able to sign with whomever he chooses (like Lecavalier is doing). Normally, this buy-out counts against the cap, like it does here. But under the recent CBA, they allow each team to buy out two contracts, and these buy-outs don’t count on the cap. Basically, the two compliance buy-outs are “get out of jail free” cards, to take really bad contracts off the books instead of sitting in cap hell until the contracts are over.

      Maybe Florida was deciding it may want to buy out players in the future, so they’re saving the buy-out. Maybe they just wanted the buy-out on their cap so they can spend less on players in future years.

      Under the previous CBA, you could send players down to the minors and hide their contract, like they did with Redden. This new CBA prevents that now, and contracts can’t be hidden in the AHL anymore.

  2. canucks30 - Jul 3, 2013 at 4:55 PM

    Arguably the cheapest organization in the NHL.

    Well, at least this side of the Islanders.

    • elvispocomo - Jul 3, 2013 at 9:51 PM

      This is what’s so confusing. Two teams (NYI and now Florida) are willing to pay players to not play when they supposedly aren’t making any money but they wouldn’t trade for a goalie that can play for them because of cost. And in Florida’s case, they’d choose a regular buyout for Kuba that’s available every year over a compliance buyout because they get the benefit of the cap hit penalty but the cap recapture penalty on Luongo’s contract is such a detriment they wouldn’t trade for him.

  3. canucks30 - Jul 3, 2013 at 4:59 PM

    Teams can no longer bury players in the minors. Regular waivers are an attempt to allow a team to pick up a players full salary without assets going the other way.

    Unconditional waivers are for buyout purposes when a team has exhausted all it’s trade and waiver options and gives up on moving a player out any other way.

    As for the Panthers, they elected for a regular buyout so they can artificially toll his cap hit instead of a compliance buyout whereby he wouldn’t have counted against the cap but would have had to replace his cap hit with another player(s) for similar money.

    Hence, the cheapness of the organization

  4. beaver15 - Jul 3, 2013 at 9:14 PM

    Thanks Ray & Canucks…Waivers for whatever reason is more complicated than the AT&T Commercials

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