Jun 15, 2014, 9:09 AM EDT
The unrestricted free agent market won’t open until July 1, but some big names could be available sooner. That’s because the window for exercising teams’ remaining compliance buyouts will start Monday and run through June 30, per CSN Washington.
Compliance buyouts are a special option that teams were granted as part of the new CBA to help them cope with the fact that the new agreement was lowering the cap. Each franchise was allowed to buy out the contracts of up to two players over the summers of 2013 and 2014 without suffering any cap penalty.
For some teams, this summer’s compliance buyout window represents their last chance to safely get out of long-term contracts that could hurt them down the road, especially given the recapture penalty that punishes teams when players signed to long-term, heavily front-loaded deals retire with years remaining.
One prime example of that is New York Rangers forward Brad Richards, who is 34 years old and comes with a $6,666,667 annually cap hit through 2019-20. Los Angeles Kings forward Mike Richards might find himself in the same boat as his role has diminished despite the fact that he’ll cost $5.75 million annually against the cap through 2019-20.
Not all the compliance buyouts will be on big names though. It seems likely that Detroit will buy out the contract of Jordin Tootoo while San Jose’s Martin Havlat and Buffalo’s Ville Leino will also probably be wearing new uniforms in 2014-15.
It’s worth noting that while these buyouts don’t count against the cap, those players will still receive two-thirds of what was owed, with the payments spread out over double the remaining length of his contract. For example, the Flyers are also paying bought out goaltender Ilya Bryzgalov roughly $1.6 million annually through 2026-27 in addition to consistently spending to the cap.
So while compliance buyouts are a helpful tool for teams to utilize, they also require that owners make a financial sacrifice.
Oct 25, 2014, 11:45 AM EDT
Anthems will be played from Ottawa to the buildings in Montreal and Toronto.
Oct 25, 2014, 10:45 AM EDT
San Jose hosts Buffalo in a Saturday matinee
Oct 25, 2014, 9:45 AM EDT
Stars overcome controversial goal call for win in New Jersey.
Oct 25, 2014, 12:50 AM EDT
“I can see, thank God, I can see,” he reportedly said.
Oct 25, 2014, 12:50 AM EDT
She reportedly hasn’t spoken to police since being released from the hospital.
Oct 25, 2014, 12:30 AM EDT
It was the game-winner, too.
Oct 25, 2014, 12:00 AM EDT
Semyon Varlamov’s first win of 2014-15 and Colorado’s first home victory.
Oct 24, 2014, 11:30 PM EDT
Actually, Taylor Hall probably deserves the most credit for Edmonton’s highlight goal.
Oct 24, 2014, 11:12 PM EDT
Somehow the latter fight didn’t leave a crater in the ice.
Oct 24, 2014, 10:44 PM EDT
The Dallas Stars get the extra point.
Oct 24, 2014, 10:29 PM EDT
Injuries continue to … strike Tampa Bay.
Oct 24, 2014, 10:13 PM EDT
Update: Vladislav Namestnikov was credited with the last goal.
Oct 24, 2014, 9:59 PM EDT
On the bright side, Michael Grabner may resume skating soon.
Oct 24, 2014, 9:19 PM EDT
Unfortunately, Tampa Bay might face another injury in J.T. Brown.
Oct 24, 2014, 8:13 PM EDT
They send their 2014 first-rounder to the OHL.
Oct 24, 2014, 7:45 PM EDT
San Jose’s enjoyed such center depth before.
Oct 24, 2014, 6:32 PM EDT
Tough times lately for St. Louis.
Oct 24, 2014, 5:47 PM EDT
Highly-touted rearguard on his way to the bigs.
Oct 24, 2014, 5:30 PM EDT
Hey, maybe the NHL should try 3-on-3 overtime.
Oct 24, 2014, 4:34 PM EDT
Speaking from experience.
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- Ghost Time: Flyers recall Gostisbehere from AHL 26
- Trotz calls Healy’s comments on Ovechkin (and Ovechkin’s mom) ‘disrespectful’ 26
- Report: Billionaire wants NHL team in Vegas; new Coyotes owner ‘sees flipping the team as a good investment’ 23
- Chara has PCL tear, out 4-6 weeks 20
- Coburn, MacDonald out four weeks with lower-body injuries 20
- Red-hot Quick sets new Kings’ franchise shutout record 10
- Reports: Chara could miss at least 4-6 weeks with knee injury 13
- Video: Red Wings’ stars stun Penguins with late surge 32
- Video: Two quick third-period goals propel Flyers over rival Penguins (82)
- Updated: Kings’ Voynov arrested for domestic assault, suspended indefinitely (78)
- Babcock: ‘Price definitely initiates contact’ in disallowed Datsyuk goal (59)
- ‘It’s stupid': Tempers flare after Kesler’s late charge on Granlund (54)
- Lucic apologizes for obscene gesture: ‘I’m obviously not proud of what I did there’ (45)