Jun 15, 2014, 9:09 AM EST
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.
Dec 21, 2014, 9:09 PM EST
Varlamov is expected to be back on Tuesday.
Dec 21, 2014, 8:17 PM EST
Bartkowski received a game misconduct.
Dec 21, 2014, 7:39 PM EST
The Stars swapping goaltenders didn’t slow Edmonton.
Dec 21, 2014, 6:48 PM EST
He had been playing with Patrick Kane and Kris Versteeg.
Dec 21, 2014, 5:56 PM EST
The Hurricanes are getting close to full strength.
Dec 21, 2014, 5:00 PM EST
Will Calvin Pickard be sent to the minors once Varlamov is healthy?
Dec 21, 2014, 3:45 PM EST
Rob Zepp makes NHL debut
Dec 21, 2014, 3:00 PM EST
Collapsed on the team’s bench Saturday night.
Dec 21, 2014, 2:15 PM EST
Was fired by the Oilers Dec. 15.
Dec 21, 2014, 1:30 PM EST
The 33-year-old was recalled Friday.
Dec 21, 2014, 12:45 PM EST
The Penguins forward was penalized twice for embellishment on Saturday.
Dec 21, 2014, 12:00 PM EST
Torrey Mitchell and Tyson Strachan have been placed on IR
Dec 21, 2014, 11:15 AM EST
They’re not impressed with how Bylsma and his staff were treated.
Dec 21, 2014, 10:30 AM EST
He called it “no big deal”
Dec 21, 2014, 9:45 AM EST
Had just one goal in eight games prior to the injury.
Dec 21, 2014, 1:18 AM EST
Christopher Tanev scored the overtime winner on his birthday.
Dec 21, 2014, 12:33 AM EST
Vancouver reported it’s holding him out of the rest of the game for precautionary reasons.
Dec 20, 2014, 11:51 PM EST
Minnesota has won five of its last 13 games.
Dec 20, 2014, 11:20 PM EST
They had pulled their goaltender on a delayed penalty.
Dec 20, 2014, 11:05 PM EST
Stamkos hopes this loss will serve as a wake up call.
- Pickard makes one last bid to stay, beats Wings in nine-round SO 0
- Video: Bartkowski delivers controversial hit to Gionta, fights Foligno 8
- Giroux line takes Leafs ‘to school’ in Flyers’ 7-4 victory 17
- Wolverine Pacioretty gets two assists just two days after being hospitalized 17
- Ovechkin scores beauty as Caps shutout Devils 8
- Seriously? Stress fracture sidelines Columbus’ Jenner for 1-2 months 6
- Julien chides Bruins’ offense for too many cute plays 40
- Sens roll over Ducks, who ‘weren’t ready’ 11
- Flyers’ Mason tweaked back, will miss weekend games 10
- Gordie Howe makes ‘amazing’ recovery following stem cell treatment in Mexico 15