Tag: contract buyout

Scott Gomez

Report: Canadiens will buy out Scott Gomez’s contract


One potential issue for new Canadiens GM Marc Bergevin will be what to do with Scott Gomez.

The 32-year-old forward has two years remaining on his contract and a massive cap hit ($7.3 million) without the production to match it. Louis Jean of Sportsnet hears from a source, Dave Morrisette of Le Match in Quebec, that Montreal’s plan for Gomez will be to buy him out of his deal this summer.

Gomez’s buy out price will be stiff. Under the current CBA, buying out a veteran player means taking two-thirds of their cap hit and paying it out over twice the length of the remaining years on the deal. What might be worse than paying Gomez to play poorly for you for the next two seasons? Having a gnarly cap hit for the next four years while he plays for someone else.

According to CapGeek.com, buying out Gomez means having a cap hit of just over $3.5 million on the books this season followed by a hit of over $4 million next season with two more seasons at $1.67 million just going to waste.

Those are some ugly numbers but with a new CBA on the way, you wonder if Montreal will hold off on buying out Gomez right away because the rules will be different. There’s the chance there will be amnesty buyouts (meaning no cap hit punishment) as well as the possibility that burying contracts in the AHL won’t be allowed anymore. I hope no one told Bergevin the job would be easy.

As Rangers second buyout window approaches, Wojtek Wolski watch begins

Wojtek Wolski

When the Rangers got the deal done with Ryan Callahan this afternoon for three years and nearly $13 million, they were able to get their forward lines all squared away and under contract. With Callahan also being their last restricted free agent to be signed, it also means that their second buyout period is set to begin at midnight.

With the Rangers being at just over $700,000 under the salary cap, the Rangers might be seeking out a little extra room under the cap. With the Rangers having a few extra forwards under contract and only 12 spots for starters, there are a few guys that could be getting a long look in regard to their salary cap hits. The main guy that could find himself on the chopping block is Wojtek Wolski.

With Wolski coming with a $3.8 million cap hit this season, buying him out would give the Rangers a nice cushion of cap space. As Andrew Gross from Rangers Rants tells us, however, don’t expect the Rangers to be too busy over the next 48 hours during their final shot at buyouts.

But not only is there no buyout of Wolski coming over the next couple of days, it’s almost a near certainty he will not be traded between now and the start of training.

The trick may come if the Rangers want to start the season with both Tim Erixon ($1.75 million) and Michael Del Zotto ($1.09 million) on their roster. They have approximately $700,000 left in cap space including Erixon as one of the six defensemen on the roster but not including Del Zotto. However, it also includes center Erik Christensen ($925,000) who may find himself squeezed from a roster spot now that the team has signed Brad Richards. The Rangers currently have 14 forwards, including Mats Zuccarello ($1.75 million) and could opt to carry just 13.

It’s a curious plan for the Rangers, but dancing near the cap is nothing new for competing teams. We saw the Devils handle things rather poorly last season while trying to balance how to handle having Ilya Kovalchuk’s deal as well as other bloated contracts on the roster to go with it. The Rangers do have enough flexibility with their contracts that they can get away with some lineup juggling if need be, but if minor injuries pile up and players can’t be placed on long term injured reserve, trouble managing the cap could arise.

The Rangers are better off having that offensive depth and while the addition of Brad Richards will help perk up their offense, they’ll need more goals from all their lines to win. Keeping Wolski as well as Erik Christensen and others who could be cap casualties is key for New York since they don’t have the minor league depth to help support them offensively if things go wrong. Losing Wolski could help the Rangers financially, but he’ll be able to give some help scoring and who knows… Perhaps playing in the final year of his contract will help motivate him to play focused regularly.

Predators add J.P. Dumont to the buyout bin

Predators Ducks Hockey

The bone-dry ranks of unrestricted free agent defensemen received an interesting boost once it became clear that Sheldon Souray’s flamethrower slap shot, Mike Commodore’s ruggedness/red afro and Cam Barker’s untapped potential will be added to the mix.

After possibly adding a big chunk of unrestricted free agents to the market on accident thanks to their Dale Tallon-esque qualifying offer issues, the Nashville Predators actually intentionally added one of their players to the unrestricted free agent ranks today. The Predators bought out forward J.P. Dumont, breaking down the $4 million salary from the last year of his contract into a $1.3 million cap hit in both 2011-12 and 12-13.

Dumont could be an interesting gamble for another NHL team (wait for it …) if the price is right. His hot-and-cold game went frigid in 2010-11 as he only scored 19 points in 70 games while averaging a bit more than 11 minutes per night. After peaking in Nashville in 06-07 (66 points), 07-08 (a career-high 72) and 08-09 (65 points), Dumont’s game kept dropping the last two seasons. He went from 45 points in 09-10 to that abysmal 19-point showing in 10-11.

Still, some teams might look at that not-too-long-ago run and wonder if he might be productive on a more offense-first squad. Much like Souray, Dumont doesn’t work at his inflated salary but he might be considered an interesting piece if he keeps his economic goals reasonable. He’s probably a more enticing buyout-turned-free-agent than banged up center Chris Drury, if nothing else.

It’s an understandable move by the Predators, but times could be really tough if the NHLPA’s grievance ends up giving them some serious free agent headaches. Stay tuned for the resolution to that and many other issues during this off-season.